Market Forces                    Impacting the Pool Industry                                                              ...
Results Sponsored by  2
APSP Research Program                        A commitment to staying informed and ahead of member                        ...
Who Our Research Represents                                                                      Discretionary            ...
Agenda                                                                     Overall Market Trends                         ...
Let me ask you…             Did You Change Your Shopping             Practices as a Result of the             Recession?CO...
Do You Feel the US is still in a             Recession?CONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document c...
Will You Go Back to Your Pre-             Recession Spending Practices?CONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIO...
Self-Reliance Supports Static State  9
Just When You Think Things Are Looking Up…                                                               % of Total Who Be...
Views on Stock Market Continue to Fluctuate                      Stock Market Right Now…                                  ...
Little Movement Since the Damage was Done in Q2, 2011                                                      Aggregate Spend...
The Pool is Your Vacation at Home                                                                                         ...
Ouch!                            I am looking forward to                                                                  ...
Money is Reserved for the Important Things                                                             I am buying fewer b...
Uncertainty Everywhere…                                                                                                   ...
Uncertainty Is the Issue             Would increase spending                 if they had more                             ...
Operating Within Short Time Horizons                                                                                      ...
Turning Less to External Cues on Ability to Spend              Things that Matter Less as Signals to Spend                ...
Savings in Cash is the New Black                                                                                          ...
Its Going Under the Mattress                         U.S. Annual                       Personal Savings                   ...
Hedging and Deleveraging in Process                                                      % of households with             ...
As the Stash Gets Bigger…             It gets less risky to spend a larger number             More OK to occasionally ha...
Demand For Real Estate Continues to Grow                                                                            Real e...
Trends Update   Success Under Siege and Stealth Wealth   Experiences and Quality in Life   The Pull of Worth and the Pu...
Main Street vs. Wall Street                                       “We Need”                                               ...
There is Some Justification                                                                   Household Income: A Picture ...
“One Percenter” Angst                                  % Who Are Extremely/Very Concerned About                           ...
Perceiving a Climate of Contempt                                                      Upper Middle Class                  ...
Perceiving a Climate of Contempt   % of Affluent/wealthy who think fewer/more Americans feel each way relative   to a year...
Stealth Wealth Strengthens                                                     % Agree: I like it when others recognize   ...
Affluent ResponseCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and ...
This Extends to Their BackyardsCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, pr...
Trends Update   Success Under Siege and Stealth Wealth   Experiences and Quality in Life   The Pull of Worth and the Pu...
Happiness and Success See Q2 Uptick                                                                 Self-Reported Happines...
The Value of Experiences In Supporting Quality in   Life are Long-Lasting                                                 ...
Trends Update   Success Under Siege and Stealth Wealth   Experiences and Quality in Life   The Pull of Worth and the Pu...
Worth: A Matter of Degree                                                              Luxury Shopper Segmentation Along t...
Rejection of Compromise Holds Strong                                     I am trading down some of my luxury purchases    ...
Worth Characteristics Intensify in Value                Strongly Agree with Statements About Desired Qualities of Brands  ...
Worth: The Store & Sales Experience Matters                                                                               ...
What we’ve Covered So Far… 42
Trends Working Against Pool Business            •         Stuck Economy                         •        Spending unlikely...
Trends Working In Favor of Pool Business            •         Cash Accumulation                         •         Assets h...
CONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret info...
Now for Pools…                                         Pool Business Owner Highlights                                     ...
Pool Business Owners Report Finances Better 2012        One-third of improvement to new pools. Other important contributi...
Do You Believe in Your Own Product?                        Customer Reports of Satisfaction                               ...
Pool Business Owners Not Satisfied with Advertising        New Approaches Needed                                      Per...
Ready to Fight!                                                                                                           ...
Pool Business Owner Highlights                                         Pool Market Overview – Consumers                   ...
Pool Prospect Market Shrunk from the Recession        Pool Business Owners believe this to be true as well               ...
Pool/Prospect Populations Steady in 2012        Prospect populations are often larger than owners                       S...
Can Pools Bring Fun/Happiness Back to Life?                                                                               ...
Reengaging a VisionCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary an...
Satisfaction Not Universal                        Overall Satisfaction with Pool                           Ownership Exper...
Overall Pool Market Structure              • Significant number of non-lovers to ―care‖ for                               ...
Pool Negatives – Prospects Wary of Costs                                                                                  ...
Barriers for Purchasing a Pool                                   Primary or Secondary Barrier for Prospects               ...
Owning a Pool Not as Expensive as Prospects Think                            Monthly Energy Costs                         ...
Pool Business Owner Highlights                                         Pool Market Overview                               ...
Substantial Investment in Improvements Planned                                        Future Plans                        ...
Exposure to Pool Features and Upgrades      Low NOx Emissions Heaters – These compact heaters are eco-friendly, offer the ...
Need to Build Awareness of Pool Features and Upgrades                                                                     ...
Pool Business Owner Highlights                                         Pool Market Overview                               ...
The Target                                                                                                                ...
The Non-Target                 Not This!       Non-Prospects                  Already Have                     Mud-Pit    ...
Paying for the pool usually involves financing                       How did/will you pay for                             ...
Purchases Competing Most with Pool                                          Most Competing with Pool Purchase             ...
Increasing the Priority of Pool Installation                                                     Pool Purchase Options    ...
Things Pool Shoppers Think are Done Well                                               Attributes Receiving Higher Ratings...
Things Pool Shoppers Think are Done Not So Well                                                       Attributes Receiving...
Trusting Less/Searching More                                                   85 %                                       ...
Tough to Enter the Circle of Trust                                                                                        ...
Building Relationships: Stages of Reciprocity                          Nominal                                            ...
Good Salespersons                                                                                                         ...
Bad Salespersons                        Not This!               You Get the                  Idea!CONFIDENTIAL, PROPRIETAR...
Market Forces Impacting the Pool Industry
Market Forces Impacting the Pool Industry
Market Forces Impacting the Pool Industry
Market Forces Impacting the Pool Industry
Market Forces Impacting the Pool Industry
Market Forces Impacting the Pool Industry
Market Forces Impacting the Pool Industry
Market Forces Impacting the Pool Industry
Market Forces Impacting the Pool Industry
Market Forces Impacting the Pool Industry
Market Forces Impacting the Pool Industry
Market Forces Impacting the Pool Industry
Market Forces Impacting the Pool Industry
Market Forces Impacting the Pool Industry
Market Forces Impacting the Pool Industry
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  • IranEuro debtChina economy – full scale real estate tumbleIn the event of a real problem will just take the money away from rich people
  • Bubble in 2011 did not pan out. Has built more skepticism and expected need to continue to ride things out
  • Item number:79071624
  • Incomes up 6% for top 1% in 2011. Slightly lower among everyone else.In ‘O7 savings was only 12% among the top 1%, now at 34%.And that has not changed even with everyone saying the recession is over – did not happen coming out of 1981 recession when consumers spent like a drunken sailor. Just ask the BMW guys. Part was changing passive income tax back then from 70% to 20%.
  • Almost $6 trillion in personal savings account by end of year. Another $3-4 trillion in cash among business. Getting 0.3% interest and not complaining Wealthy Americans are funding the debt today making it more difficult to tax them. Obama has a tendency to attack the rich and Republicans are attacking Romney for success?
  • Almost $6 trillion in personal savings account by end of year. Another $3-4 trillion in cash among business. Getting 0.3% interest and not complaining Wealthy Americans are funding the debt today making it more difficult to tax them. Obama has a tendency to attack the rich and Republicans are attacking Romney for success?
  • SR4
  • This is not a literal interpretation
  • Convert to tracking among top 10%Repeat – later on in siege, 90, 9, 1%
  • Segments were created from a cluster analysis of attitudinal statements from the 2012 Survey of Affluence & Wealth Study. Based on their correlation with attributes related to belief in luxury as embodying craftsmanship, quality and service, 87% of respondents were classified into one of the four groups (13% remained unclassified). Those with the highest positive correlation to “Worth” statements such as “I am willing to pay full price on the products and services I buy to get the quality and service I deserve” are classified as “Fundamentally Worth-oriented” while those with the highest negative correlation to these statements are “Fundamentally Deal-oriented.”
  • Euro vs. luxury brands – worth are likely to buy luxury auto, hotels/resorts, jewelry etc.
  • Pool is not made as a decision in isolation
  • Market Forces Impacting the Pool Industry

    1. 1. Market Forces Impacting the Pool Industry September, 2012CONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express.
    2. 2. Results Sponsored by 2
    3. 3. APSP Research Program  A commitment to staying informed and ahead of member interests and questions  Nearly 7,000 interviews updated annually Quarterly Tracking Qualitative 2011 Quantitative 2012 Quantitative 3000 Interviews Exploration Market Assessment among Top 10% of Update 6 Focus Groups 2500 Interviews* HH Incomes 1,300 Interviews* $100K+ Discretionary *Among pool and hot tub owners, prospects and rejectersCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express.
    4. 4. Who Our Research Represents Discretionary Income Upper Middle Core One $100K+ Class Affluent Percenters % of U.S. 10% 5.2% 4.3% 1.0% Households* Median Household $275K $138K $275K $750K Income Median Assets $1.5MM $800K $2.3MM $7.5MM # of U.S. 12.0MM 5.9MM 4.9MM 1.2MM Households* * Estimates are based on total U.S. households of 114,600,000 as cited in the 2010 American Community Survey (ACS) from the US Census Bureau.CONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express. 4
    5. 5. Agenda  Overall Market Trends  Pool Industry Results  ActivationsCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express. 5
    6. 6. Let me ask you… Did You Change Your Shopping Practices as a Result of the Recession?CONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express.
    7. 7. Do You Feel the US is still in a Recession?CONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express.
    8. 8. Will You Go Back to Your Pre- Recession Spending Practices?CONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express.
    9. 9. Self-Reliance Supports Static State 9
    10. 10. Just When You Think Things Are Looking Up… % of Total Who Believe We are in a Recession AND it Will Last at Least Another Year 69 67 56 55 56 61 58 54 54 52 Q1-09 Q3-09 Q1-10 Q3-10 Q1-11 Q2-11 Q3-11 Q4-11 Q1-12 Q2-12CONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express. 10
    11. 11. Views on Stock Market Continue to Fluctuate Stock Market Right Now… Investing Risk Profile A real risk Moderate 58 57 58 59 58 58 56 55 56 50 50 51 50 50 38 Conservative 43 31 33 42 42 41 28 30 30 A real opportunity Aggressive 14 14 12 14 10 11 Q1 Q2 Q3 Q4 Q1 Q2 Q1 Q2 Q3 Q4 Q1 Q2 2011 2011 2011 2011 2012 2012 2011 2011 2011 2011 2012 2012CONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express. 11
    12. 12. Little Movement Since the Damage was Done in Q2, 2011 Aggregate Spending Change 60 % of Households Planning to Increase/Decrease Luxury Spend 50 40 30 20 Increase 11 Decrease 10 10 0 Q2 Q1 Q1 Q1 Q2 Q3 Q4 Q2 2008 2009 2010 2011 2011 2011 2011 2012 Total Affluent and Wealthy Average across categories among those participating in categoryCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express. 12
    13. 13. The Pool is Your Vacation at Home Total AWA Sample Q1 2012 Q2 2012 % % Weekend Getaways 12 13 Vacations 7 11 Footwear 7 6 Resorts and Fine Hotels 8 5 Average Apparel/fashion 5 4 Spending Change Personal Leather Goods 3 4 Eating in restaurants 4 3 Womens Handbags 1 3 Accessories 5 2 Home electronics 2 -1 Home Décor & furnishings -1 -2 Fine Watches -4 -12 Fine Jewelry -4 -14Calculations based on past spending and projected spending levelsCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American Express 13Travel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express. 13
    14. 14. Ouch! I am looking forward to I am looking forward to spending more money buying luxury goods and this year than last services more now than I did a year ago 45 Q1 2011 43 Q1 2012 33 30 26 27 23 21 18 18 14 15 Upper Middle Core Affluent One Percent Upper Middle Core Affluent One Percent Class ClassCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express. 14
    15. 15. Money is Reserved for the Important Things I am buying fewer big ticket items now than I did a year ago 81 76 71 71 61 60 57 51 49 Q1 2009 45 45 39 Q1 2010 Q1 2011 Q1 2012 Upper Middle Class Core Affluent One PercentersCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express. 15
    16. 16. Uncertainty Everywhere… Home Retirement Values Jobs Politics Personal Finance Uncertainty TaxesCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express. 16
    17. 17. Uncertainty Is the Issue Would increase spending if they had more Say they are saving confidence money because they are in knowing what their worried about the future future looked like (YTD) (YTD)CONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express. 17
    18. 18. Operating Within Short Time Horizons Just 24% have 100 confidence in No Confidence In Ability to 90 knowing what Predict Own Future in… their life will be 80 76 like in more than 70 5 years 60 50 48 41 40 30 27 20 10 0 6 months 12 months 2 years 5 yearsAmong Total, cumulative for each time periodCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express. 18
    19. 19. Turning Less to External Cues on Ability to Spend Things that Matter Less as Signals to Spend Sustained improvement in the stock market Sustained improvement in the consumer confidence index General recognition from economists that were in a growth cycleCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express. 19
    20. 20. Savings in Cash is the New Black Upper Middle Core One Income Savings Rate The 90% Class Affluent Percenters Avg. % Being Saved 10 17 23 34 65% say they are saving money because they are worried about the future Equates to $35,000 incremental savings per year among top 10%ersCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express. 20
    21. 21. Its Going Under the Mattress U.S. Annual Personal Savings $6 Trillion in Cash Stockpiling on the Sidelines! $250 B $550 B In 2007 In 2011 2007 2012 71 61 39 29 23 11 % Being Saved % to Personal % Invested In Financial Savings/Money Market Products and MarketsAmong TotalNational Personal Savings figures Source: Bureau of Economic Analysis (BEA.gov)CONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express. 21
    22. 22. Hedging and Deleveraging in Process % of households with Zero Credit Card Debt 80% But reports of 75% increasing credit use 71% are now emerging 69% Q1 2010 Q1 2011 Q1 2012 Q2 2012CONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express. 22
    23. 23. As the Stash Gets Bigger…  It gets less risky to spend a larger number  More OK to occasionally have justifiable indulgencesCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express. 23
    24. 24. Demand For Real Estate Continues to Grow Real estate currently represents an opportunity 72 71 70 66 65 63 63 63 “In the market” for real estate 28 25 24 21 16 15 9 13 Q1-09 Q1-10 Q1-11 Q2-11 Q3-11 Q4-11 Q1-12 Q2-12CONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express. 24
    25. 25. Trends Update  Success Under Siege and Stealth Wealth  Experiences and Quality in Life  The Pull of Worth and the Push of ―the Deal‖ 25
    26. 26. Main Street vs. Wall Street “We Need” “They Have”CONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express. 26
    27. 27. There is Some Justification Household Income: A Picture of Disparity (in 2010 dollars) Lower limit of top 5 percent Upper Limit of Fourth Fifth Upper limit of Third Fifth Upper limit of Second Fifth Upper limit of Lowest Fifth 1950 1960 1970 1980 1990 2000 2010Source: U.S. Census Bureau, Current Population Survey, Annual Social and Economic Supplements.Table F-1. Income Limits for Each Fifth and Top 5 Percent of Families (All Races): 1947 to 2010(Families as of March of the following year. Income in current and 2010 CPI-U-RS adjusted dollars (28))CONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express. 27
    28. 28. “One Percenter” Angst % Who Are Extremely/Very Concerned About Being Scorned for Being in the Top Part of the Economy 27 % One Percenters Q2 2012CONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express. 28
    29. 29. Perceiving a Climate of Contempt Upper Middle Class Core Affluent One Percenters 71% 70% 64% 62% 62% 62% I am frustrated by the amount of negative Wealthy people are not recognized for attention surrounding wealth disparity in the contributions they make to society AmericaSource: May and June waves of the Survey of Affluence and Wealth in AmericaCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express. 29
    30. 30. Perceiving a Climate of Contempt % of Affluent/wealthy who think fewer/more Americans feel each way relative to a year ago believe fewer more statement is true Wealth comes at the expense of others 6 63% 12% Wealth is impossible to obtain 10 60% 5% Wealth is a reflection of greed 7 56% 5% Wealth is something to look down upon 10 39% 1% Wealth is something to aspire to 16 30% 64% Wealth reflects hard work 44 15% 80%Source: May and June waves of the Survey of Affluence and Wealth in AmericaCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express. 30
    31. 31. Stealth Wealth Strengthens % Agree: I like it when others recognize me as being wealthy Q1 2010 Q1 2011 Q1 2012 Q2 2012 53 43 46 40 34 31 30 24 Total Affluent and Wealthy One PercentersCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express. 31
    32. 32. Affluent ResponseCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express.
    33. 33. This Extends to Their BackyardsCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express.
    34. 34. Trends Update  Success Under Siege and Stealth Wealth  Experiences and Quality in Life  The Pull of Worth and the Push of ―the Deal‖ 34
    35. 35. Happiness and Success See Q2 Uptick Self-Reported Happiness and Success 2012 Very Happy Successful in Personal Life 75 78 76 78 74 73 69 71 67 67 71 66 Total 2012 UMC CA Top 1% Very Happy 63 70 72 Successful in personal Life 73 76 77 Q1 2010 Q2 2010 Q1 2011 Q2 2011 Q1 2012 Q2 2012Top 3 Box of 10-Point ScaleCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express. 35
    36. 36. The Value of Experiences In Supporting Quality in Life are Long-Lasting Enjoy talking about… Love Talking About Neutral Avoid Talking About Family 80 16 4 Vacation experiences 77 13 10 Hobbies 54 33 13 Sports 52 20 28 Things you buy 36 33 31 Weather 34 49 17 Politics 33 21 46 Religion 16 24 60 Money 11 31 58 0 20 40 60 80 100CONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express. 36
    37. 37. Trends Update  Success Under Siege and Stealth Wealth  Experiences and Quality in Life  The Pull of Worth and the Push of “the Deal” 37
    38. 38. Worth: A Matter of Degree Luxury Shopper Segmentation Along the Worth/Value Continuum Total A&W Non-CM 20% 24% 14% 24% 18% Fundamentally Biased for Neither Worth Biased for Fundamentally Deal-oriented Deal nor Value Worth Worth-oriented GrowingCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express. 38
    39. 39. Rejection of Compromise Holds Strong I am trading down some of my luxury purchases to lower quality or lower priced items Q1 2010 Q1 2011 Q1 2012 Q2 2012 50 43 43 45 41 38 35 31 30 30 26 27 Upper Middle Class Core Affluent One PercentersCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express. 39
    40. 40. Worth Characteristics Intensify in Value Strongly Agree with Statements About Desired Qualities of Brands Total Sample Q1 Q2 Reflect high craftsmanship 46 50 Have a reputation for the best quality 43 45 Have a reputation for good service 44 46 Have a reputation for innovation 16 20(Note: Total agree for first 3 items is over 90%, total agree on "innovation" is near 80%)CONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express. 40
    41. 41. Worth: The Store & Sales Experience Matters Fundamentally Worth-oriented Fundamentally Deal-oriented 83% 78% 59% 61% 43% 36% 19% 10% For me, the act of I prefer stores that I depend on I have close purchasing needs to are really elegant salespersons to relationships with a be as pleasant as inside know the specific few salespeople that the experience of details that make I count on owning the product products worth moreCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express. 41
    42. 42. What we’ve Covered So Far… 42
    43. 43. Trends Working Against Pool Business • Stuck Economy • Spending unlikely to move significantly • Shortened Time Horizons • Pools have longer-term reward mindset • On-going Uncertainty • Preservation of assets • 1%er Angst • Play to Stealth WealthCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express. 43
    44. 44. Trends Working In Favor of Pool Business • Cash Accumulation • Assets have grown substantially • Targeted Spending on Things that Matter • Family first! • Operating on Internal Cues of Prosperity • Feeling fortunate in their personal situation • Real Estate Boom Coming? • Looking for hard assets • Return of Worth Based Purchasing • Presents more high margin customer opportunitiesCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express. 44
    45. 45. CONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express. 45
    46. 46. Now for Pools… Pool Business Owner Highlights Pool Market Overview Consumer Insight Driven Features/Benefits and Channel Dynamics Targeting/Communications Closing ConsiderationsCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express.
    47. 47. Pool Business Owners Report Finances Better 2012  One-third of improvement to new pools. Other important contributing sources Share of Sources of Improved Business Revenue More customers installing new pools 34% Improved Financial Practices 19% More customers renovating/enhancing 16% Customers are buying more pool supplies 15% More customers hiring pool maintenance 3% 10% Something elseCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express.
    48. 48. Do You Believe in Your Own Product? Customer Reports of Satisfaction What Pool Business Owners with Pool Ownership Experience Estimate Customers will Say Extremely Satisfied 28% Extremely Satisfied 25% 70% 57% Very Satisfied 42% Very Satisfied 32% Somewhat Satisfied 23% Somewhat Satisfied 32% Not Very Satisfied 6% Not Very Satisfied 12% Not at all Satisfied 1% Not at all Satisfied 7% Are we selling ourselves or our customers?CONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express.
    49. 49. Pool Business Owners Not Satisfied with Advertising  New Approaches Needed Perceived Effectiveness of Advertising (As reported by Pool Business Owners) Very Effective 19% Somewhat Effective 65% Not Very Effective 16%CONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express.
    50. 50. Ready to Fight! “Good is the Enemy of Great” - Jim CollinsCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express. 50
    51. 51. Pool Business Owner Highlights Pool Market Overview – Consumers Features/Benefits and Channel Dynamics Targeting/Communications Closing ConsiderationsCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express.
    52. 52. Pool Prospect Market Shrunk from the Recession  Pool Business Owners believe this to be true as well Perceived Popularity in owning a pool since the recession More Popular 19% Neither more nor less popular 50% Less Popular 31% q - In your view, do you feel it has become more or less popular to own a pool than it was before the recession?CONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express.
    53. 53. Pool/Prospect Populations Steady in 2012  Prospect populations are often larger than owners Single Family Detached 2011 And 2012 Home Owners - $75K HH Prospects Owners 3.7 MM 5.6 MM 10% 15% Rejecters 75% 27.7 MMCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express.
    54. 54. Can Pools Bring Fun/Happiness Back to Life? Owners Prospects Going through the recession has made life more serious and less fun 54% 52% I wish I could bring more fun back into my life 50% 68% Having a pool is a great way to bring more fun into my life 68% 81% The fun and enjoyment I get from a pool is worth every penny 65% 76% Q14- Please read the following statements that may or may not describe your attitudes on certain things. Using the 5-point scale below, please select the response that best indicates how much you agree or disagree with each statement. If no one response captures your feelings completely, just choose the answer that comes closest. q26 - Please read the following statements that may or may not describe how you feel about in-ground pools. Using the 5-point scale below, please select the response that best indicates how much you agree or disagree with each statement.CONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express.
    55. 55. Reengaging a VisionCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express.
    56. 56. Satisfaction Not Universal Overall Satisfaction with Pool Ownership Experience Extremely Satisfied 28% 70% Very Satisfied 42% Somewhat Satisfied 23% Not Very Satisfied 6% Not a Ringing Endorsement! Not At All Satisfied 1% Strength of Recommendation to Prospects An Extremely Good Idea 25% 65% A Good Idea 40% Somewhat of a Good Idea 25% A Bad Idea 8% An Extremely Bad Idea 2%CONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express.
    57. 57. Overall Pool Market Structure • Significant number of non-lovers to ―care‖ for Pool Prospects Love of the Pool Pool Owners Visionaries Fun in the Sun 60% Sunsetters 18% 20% 20% Younger Empty Nesting Busy Caretakers Backyard Expect many to exit 40% the category 24% 17% Chore of the PoolCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express.
    58. 58. Pool Negatives – Prospects Wary of Costs Owners Prospects Pools are too expensive to maintain 52% 48% Maintaining the correct water chemistry in a pool is a hassle 50% 55% Pool maintenance is very burdensome 50% 59% Pools get boring 27% 25% q26 - Please read the following statements that may or may not describe how you feel about in-ground pools. Using the 5-point scale below, please select the response that best indicates how much you agree or disagree with each statement.CONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express.
    59. 59. Barriers for Purchasing a Pool Primary or Secondary Barrier for Prospects Total A pool is too expensive to install 75% Concerned a pool would be too expensive to 62% maintain I am waiting to see if the economy becomes more 54% stable/improves A pool uses too much energy/electric bill will increase 52% Concerned a pool would take too much time to 52% maintainCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express.
    60. 60. Owning a Pool Not as Expensive as Prospects Think Monthly Energy Costs Monthly Maintenance Costs Owners $85 Owners $80 Prospects $139 Prospects $124 Difference Difference (Prospects – Owners) $54 (Prospects – Owners) $44CONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express.
    61. 61. Pool Business Owner Highlights Pool Market Overview Features/Benefits and Channel Dynamics Targeting/Communications Closing ConsiderationsCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express.
    62. 62. Substantial Investment in Improvements Planned Future Plans Owners I dont plan to do anything with my pool 50% I plan to make improvements to my pool 28% Plan to Spend in the Next 2 Years I plan to completely refurbish my pool 15% $3,000 on average I plan to replace my pool 4% estimated I plan to do something else 2% I plan to de-commission or remove my 1% pool q35 – Which of the following best describes your future plans with respect to your pool in the next 2 years?CONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express.
    63. 63. Exposure to Pool Features and Upgrades Low NOx Emissions Heaters – These compact heaters are eco-friendly, offer the best in efficiency and work quickly to warm up your pool. That means less time waiting for your pool to warm up, energy savings and more time enjoying it. LED Pool Lighting – Pools are great for daytime fun but they take on a whole new life at night, especially with energy efficient LED lighting. Set the light to the color of your choice or opt to have the lights cycle through the different color at a predetermined interval – all while using 80% less energy than traditional pool lighting. Natural Pool Sanitation Systems – Natural pool sanitation is a great way to be kind to the environment, save money on expensive pool chemicals and also create a more inviting swimming environment. Using the same minerals found in nature to cleanse your pool water, natural sanitation can reduce your pools chlorine needs by up to 80% and won’t irritate your skin, eyes or leave you smelling like chlorine. Automatic Pool Cleaners – Spend less time cleaning and more time enjoying your pool with an automatic pool cleaner. Automatic pool cleaners reduce the need to scrub, skim and vacuum while minimizing debris build-up in your filters, the need to use harsh chemicals and extending the life of your pool filtration system. Automatic Pool Controls – Control or program your pool heater, pumps, lights and automatic cleaner remotely using a touchpad, Smartphone or other internet connected device. Automatic controls can help you automate pool maintenance, conserve energy and make sure your pool is ready when everyone’s ready to jump in. Solar Swimming Pool Heaters – Harness the power of the sun to warm your pool. A solar heating system can keep your pool up to 15 degrees warmer, extending your swimming season without increasing your utility bills. Solar pool heaters are cost competitive with traditional natural gas, propane and electric pool heaters and, with the energy savings you realize, ends up paying for itself. Natural Salt Chlorination Systems – Save money, time, and hassle the natural way. A pool with natural salt chlorination requires less maintenance and is cheaper to maintain than a chlorine pool. Better yet, salt water chlorination won’t sting your eyes, fade your swimsuit or leave you smelling like chlorine. Spend less time managing water chemistry and more time swimming.CONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express.
    64. 64. Need to Build Awareness of Pool Features and Upgrades Familiarity Purchase Interest (Ext/Very) (Ext/Very Likely) Pool Features and Upgrades Owners Prospects Owners Prospects Among Pool Owners Automatic Pool Cleaners 60% 38% 45% 72% Automatic Pool Controls 47% 32% 32% 58% Solar Swimming Pool Heaters 41% 32% 38% 61% LED Pool Lighting 39% 33% 40% 54% Natural Salt Chlorination Systems 33% 34% 33% 62% Natural Pool Sanitation Systems 24% 28% 29% 54% Low NOx Emissions Heaters 19% 22% 28% 47% q41P - How familiar are you with each of the following pool features or improvements listed below? q42P - How interested are you in purchasing each of the following pool features or improvements listed below?CONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express.
    65. 65. Pool Business Owner Highlights Pool Market Overview Features/Benefits and Channel Dynamics Targeting/Communications Closing ConsiderationsCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express.
    66. 66. The Target This Prospects 42 Years Old (But many < 34) 2/3 have kidsCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express.
    67. 67. The Non-Target Not This! Non-Prospects Already Have Mud-Pit No TeethCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express.
    68. 68. Paying for the pool usually involves financing How did/will you pay for Prospects installing pool Financed/will finance it 33% Average saved Mix of financing and cash 41% $7,200 Pay in full with cash that I saved 24% saving Some other way 1% 44% have dipped into their pool Have done so 3 times on savings to cover other average expenses 1Among prospects who plan to pay for their pool in part or in full with cash 2Among all prospectsCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express.
    69. 69. Purchases Competing Most with Pool Most Competing with Pool Purchase Prospects Car, truck, van or SUV 33% Financial investments/savings 25% Home renovations 23% Vacation 18% Second home 9% Hot tub 9% Home furnishings 7% Boat (motorboat/sailboat/yacht) 6% Watches/jewelry 3% Something else not listed 8% q53 - Which of the following things are most competing with your purchase of a pool? That is, which of these take money away that you otherwise would use to purchase a pool?CONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express.
    70. 70. Increasing the Priority of Pool Installation Pool Purchase Options Prospects Discount on installation 40% No-interest financing offer 39% Discount on premium pool features 30% 1-year pool maintenance included 29% Long-term financing offer 26% Free pool maintenance training for new 24% owners Personalized estimate and cost breakdown 20% Special prices on future pool upgrades 20% Transferrable warranty 14% q54 - Which of the following would have the greatest impact on making having a pool installed a higher priority for you?CONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express.
    71. 71. Things Pool Shoppers Think are Done Well Attributes Receiving Higher Ratings (Past 5 Year Pool Shoppers) Offers quality products for sale Keeping up with the times Knowledgeable sales people on hand Clean, bright and well organized showroom Products are up to date and stocked appropriatelyCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express.
    72. 72. Things Pool Shoppers Think are Done Not So Well Attributes Receiving Weaker Ratings (Past 5 Year Pool Shoppers) Sales people have strong client service skills Is in touch with its customer base Attractive store front/presence (from the road) Leverages technology in sales/product demos Sales people have your best interest at heartCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express.
    73. 73. Trusting Less/Searching More 85 % % Rely less on 2 Trust the advice salespeople they receive from today than in the salespeople past Source: Affluent Attitudes Towards Salespeople, Harrison Group, 2010CONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American Express 73Travel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express.
    74. 74. Tough to Enter the Circle of Trust Realtors Doctors Travel Family Sales- Agent SELF people Lawyers Close Friends Financial advisors at financial Insurance institutions agents Financial advisors at banksCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express. 74
    75. 75. Building Relationships: Stages of Reciprocity Nominal Cursory acknowledgements Ordinal Ordinary, basic information Transactional Information related to the Transaction at hand Obligation is on the Private information – calls for company rep. to self- Intimate reciprocity disclose first Trusting Sharing of information that puts the teller at risk – very rareCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express. 75
    76. 76. Good Salespersons This Clean Cut Love their Job Feel Fortunate Not excessively deal drivenCONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express.
    77. 77. Bad Salespersons Not This! You Get the Idea!CONFIDENTIAL, PROPRIETARY & TRADE SECRET INFORMATIONThis document contains confidential, proprietary and trade secret information of American ExpressTravel Related Services Company, Inc. (“American Express”) and its subsidiaries and affiliates, and mustnot be disclosed whole or in part to any third parties without prior written consent of American Express.
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