NEWS & INSIGHT
HANDMADE PRODUCTS GENERATE MORE THAN JUST INCOME
A BURGEONING MARKET WITH COSTLY OUTCOMES UNDER THE MICROSCOPE COUNTRY: Australia SCHOOL: QUT Graduate School of Business, Queensland University of Technology (QUT) Sports betting practices are becoming ever more embedded in everyday life, according to Professor Ross Gordon, from QUT’s School of Advertising, Marketing and PR. Gordon is at the helm of an interdisciplinary project designed to learn more about betting practices among young Australians. ‘Sports betting is the fastest-growing segment of the Australian gambling market, generating $5.5 billion AUD in 2021. Furthermore, sports betting is heavily promoted, especially during the television broadcast of sports,’ he explained. While problems associated with betting in relation to problem gamblers are documented, less work has been done on the larger number of gamblers defined as low and moderate risk – the subject of this project. Sports betting apps are also a focus. ‘Sports betting apps facilitate betting practices as they are located on mobile smartphones, are well designed, convenient, and make placing bets easy,’ said Gordon, whose team has been looking at the use of such apps among a group of 50 participants, while being monitored with EEG (electroencephalography) and eye tracking. By understanding sports-betting practices, the project’s team – which includes researchers at the University of Glasgow, University of Wollongong, Swinburne and RMIT as well as QUT – hopes to offer insight to policymakers and support programmes. ‘Sports betting can come with considerable health, economic and social harms,’ explained Gordon. He pointed to research in which the social cost of gambling in the Australian state of Victoria was estimated to be $7 billion AUD in a year. Of this, $2.2 billion is said to be the costs of family and relationship problems, $1.1 billion government costs in terms of research, regulation and professional support services, with $100 million representing the estimated costs of crime to businesses and the justice system. / TBD
COUNTRY: Germany SCHOOL: TUM School of Management, Technische Universität München During the pandemic’s periods of lockdown worldwide, many people took to their existing hobbies, or acquired new ones, and turned them into businesses. Among these people, a great number have been selling handmade items on internet stores such as Etsy, Amazon Handmade, and Artfire. For some, these entrepreneurial pursuits were crucial for livelihoods, but new research from TUM School of Management suggests that those who sold products they made themselves were set to gain more than just money. Benedikt Schnurr, a professor at TUM School of Management, together with several other colleagues and researchers, looked into the impact of selling handmade products for a paper entitled, Sales and Self: The Non- Economic Value of Selling the Fruits of One’s Labour , which has been published in the Journal of Marketing. They found that selling handmade products increased people’s happiness beyond the economic returns from sales. When handmade items are bought, the happiness earned by the maker/ seller is more than the monetary reward from the sale, according to the researchers. The seller sees the sale as a form of self-validation from the market. The level of happiness increases along with the price paid by a customer, even when the seller’s returns do not increase at the same rate as the price paid, and when customers make an informed choice in buying their product. The paper also found that people were happier selling products they had made themselves than products other people had made. / EB
SHARE YOUR NEWS AND RESEARCH UPDATES by emailing AMBA & BGA’s Content Editor, Tim Banerjee Dhoul, at t.dhoul@associationofmbas.com
12 |
AMBITION | Be in Brilliant Company
Made with FlippingBook - Share PDF online