A recent video sharing one woman鈥檚 New Year鈥檚 resolution to no longer tip has gone viral, proving that, for many consumers, tipping has become excessive. Just a few years ago, diners often ponied up 15% on a restaurant bill or bar tab. As restaurants were forced to close during the pandemic, tip prompts creeped up to 18%, 20%, or even 30%. Tip prompts were also added to many other services where tipping had never been customary 鈥� like drive-thru windows and even deli counters. Referred to as 鈥渢ip-flation鈥�, this phenomenon has sparked debate.
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Published on: 11 Jan 2024
Buy now, pay later technology offers loans to consumers to pay for purchases in instalments over time. A soft credit check verifies eligibility, and can extend credit to users who might not otherwise have access to credit products. These loans claim to improve the financial inclusion of lower-income young people, but should be approached with caution, writes Vivek Astvansh in The Conversation.
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Published on: 21 Dec 2023
Christmas is just around the corner, and even with inflation slowing down, gift prices are higher than ever. Canada鈥檚 Consumer Price Index is at an all-time high of nearly 160 points, Associate Professor Vivek Astvansh tells CTV News Montreal. 鈥淐onsumers are feeling the pinch, and while they want to buy stuff, they are resisting purchases,鈥� says Astvansh. Holiday spending will still be higher than it was last year, but not because people are actually buying more gifts. 鈥淭he prices of everything have gone up.
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Published on: 21 Dec 2023
Tipping has gotten out of control in Canada. Not only are restaurants鈥� automated payment systems prompting patrons for tips of up to 30%, there are even some tip prompts at self-serve kiosks. More than half of Canadians say they鈥檇 prefer a no-tip, service-included model that ensures higher base wages for employees. For now, shoppers should be reminded that tipping is discretionary, says Associate Professor Vivek Astvansh in an article for The Conversation.
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Published on: 14 Dec 2023
It has been a challenging few years for supply chains. After pandemic-related supply chain disruptions, many retailers increased their inventory for the 2022 holiday season. After all, demand was still booming at the time. But demand has come down off its peak, and that presents an entirely different problem for retailers in 2023. Some major retailers have reduced inventory so as to not be left with products they can鈥檛 sell.
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Published on: 8 Dec 2023
Scouring for holiday gifts at bargain prices is a savvy way to cut costs, but the allure of Black Friday deals sometimes masks potential pitfalls. In an article for BNN Bloomberg, Associate Professor Vivek Astvansh emphasizes the need for caution among bargain hunters to ensure they're fully informed about any unforeseen conditions.
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Published on: 30 Nov 2023
When a company declares bankruptcy, the spotlight often falls on its creditors, primarily focusing on corporate debt from financial institutions. However, it is crucial to acknowledge the significant role of suppliers in the company's journey through bankruptcy. While financial institutions play a key role, suppliers can also be instrumental in the company's successful emergence from bankruptcy proceedings. Suppliers stand to gain more by supporting their buyer's recovery instead of witnessing the liquidation of assets.
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Published on: 21 Nov 2023
Authors: Sudha Mani, Vivek Astvansh and Kersi D. Antia
Publication:听听Journal of Marketing, Forthcoming, EXPRESS: First published online July 27, 2023
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Published on: 23 Aug 2023
Authors:听Vivek Astvansh and Kamran Eshghi
Publication: Journal of Business Research, Volume 167, November 2023, Article 114052
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Published on: 23 Aug 2023
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