BUSINESS & AG LIFE
WEDNESDAY, JANUARY 29, 2020
THE OBSERVER & BAKER CITY HERALD — 3B
How do Millennials spend? Event helps Oregon’s working
S
oon to be the largest generation in our
country’s history, Millennials are roughly
considered to be ages 22-38, and it’s estimat-
ed they will have well over $1 trillion in buy-
ing power this year. Traditional advertising
practices do not reach these customers and
it’s important for businesses to understand
what motivates them to buy.
Millennials are perhaps the most socially
and environmentally conscious genera-
tion and want to do business with those
companies they believe share their values.
Millennials also expect businesses to give a
signifi cant portion of their sales back to these
causes.
This age group purchases brand name
items, subscription services (including for
clothing) and the latest in technology. Accord-
ing to a recent article in Forbes magazine,
written by Gui Costen, more than half do not
have credit cards and most have less than
$1,000 in savings, if any at all.
Millennials are driven by discounts, do
research and shop for nearly everything
online using their mobile devices and tab-
lets. Having grown up in the digital world,
they expect instant responses and desire
customer-centered buying experiences. They
communicate by text.
As important to understanding where Mil-
lennials spend their money, it’s vital to know
where they don’t:
• Cable television
• Home remodeling materials
VIRUS
Continued from Page 1B
up, recovering to a 10% an-
nual rate in the second half
of the year.
“From what we know,
it’s likely to be similar this
time,’’ said Andy Rothman,
investment strategist at
Matthews Asia. “People
shouldn’t get panicked that
growth is going to slow
sharply’’ over a sustained
period.
Still, the Chinese econo-
my isn’t the dynamo it was
in the early and mid-2000s
when growth routinely hit
double digits.
The IMF expects China’s
growth to drop from 6.1%
in 2019, already the slow-
est since 1990, to 6% this
year and 5.8% next. The
slowdown refl ects China’s
diffi cult transition from fast
but unsustainable growth
built around often-wasteful
investments to steadier but
less striking growth built on
consumer spending by the
country’s growing middle
class.
The Chinese economy
has also been buffeted by a
trade war with the United
States. The two countries
signed a truce earlier this
month that was expected to
provide some economic re-
lief. Then the viral outbreak
hit.
As part of the so-called
GREG SMITH
SMALL BUSINESS
DEVELOPMENT CENTER
• Travel
What do they buy?
• The latest smartphones
• Conveniences
• Food that often makes a political state-
ment and refl ects their lifestyle in unique
dining establishments
• Brand name clothing and other retail
items
• Subscription services
• Older Millennials are buying homes
How do business owners successfully mar-
ket to Millennials? Digital and social media
platforms are the key. Research also suggests
they read blogs before making a purchase
and enjoy being engaged by companies on
social media.
A signifi cant percentage (especially
younger Millennials) reportedly have fl ed
Facebook (although Nielsen reports it is still
the largest platform accessed by their mobile
devices) utilizing Snapchat, Instagram and
YouTube instead.
Bottom line? Traditional advertising does
not reach nor appeal to Millennials. They’re
changing the way the business world works,
and businesses wanting to reach this group
of consumers (and their pocketbooks) must
quickly and continually adapt.
Phase 1 deal, China agreed
to increase purchases of U.S.
products by $200 billion
over this year and next.
That goal sounded ambi-
tious even before the viral
outbreak isolated tens of
millions of Chinese consum-
ers and delivered a wallop
to consumer and business
confi dence.
Rothman suspects the
United States might give
the Chinese a little leeway.
“Both governments really
want the deal to work,’’ he
said. “If it is clear that (Chi-
nese purchases) are off to a
slow start not because the
Chinese government is not
trying its best but because
of the virus, the Trump
administration is likely to
be sympathetic.’’
There has been no imme-
diate impact on China’s vast
manufacturing industries
because factories already
were closed for the Lunar
New Year holiday and
weren’t due to reopen until
this week or later.
“I think the fi rst quarter
looks like it will take quite
a signifi cant hit,” said Rajiv
Biswas, chief Asia economist
for IHS Markit. “This still
is escalating, so it’s hard to
talk about when this will be
contained.”
Further delays in restart-
ing production could send
shock waves through Asian
suppliers of components and
exporters of iron ore, copper
and other commodities as
far away as Australia, Brazil
and Africa.
Foreign suppliers usu-
ally see a surge in Chinese
orders as factories restock
after shutting down for 10
days or more during the
holiday.
“The loss of economic
output could be quite
substantial, and that has
consequences for the Asian
manufacturing supply
chain, because orders won’t
come in the way people
expect,” Biswas said.
The impact in other devel-
oping Asian countries might
reduce their 2020 economic
growth by 1.5 to 2 percent-
age points, according to a
forecast by Edward Glossop
of Capital Economics.
lands change hands
Rogue Farm Corps
PENDLETON — In
Oregon, 10.5 million acres,
or 64%, of the state’s farm
and range land is expected
to change hands over the
next 20 years as the average
farmer and rancher reaches
retirement age.
For farmers, ranchers
and foresters who have
questions about passing
their land on to the next
generation, and for begin-
ning farmers and ranchers
wondering how they can
access affordable land, the
Oregon nonprofi t Rogue
Farm Corps is convening a
day-long event on Feb. 13
in Pendleton. “Changing
Hands: A Workshop on Farm
Succession Planning and Ac-
cess to Land” will feature the
critical tools and resources
needed to keep Oregon’s
working lands working.
Farmers and ranchers
preparing for succession will
learn from an attorney how
they should prepare. They will
also learn how to communi-
Growth in Asian emerg-
ing markets “will slow
sharply in the fi rst quarter
of the year,” Glossop said in
a report.
Japanese Economy Min-
ister Yasutoshi Nishimura
told reporters Tuesday that
Japanese exports, produc-
tion and corporate profi ts
could be pinched by the
new virus, stressing that he
was closely monitoring the
situation.
A more direct hit is
already coming from the
decline in tourist traffi c
from China. Nishimura said
Chinese travelers usually
account for about a third of
tourists from abroad.
Chinese tourists to Japan
tend to be relatively big
spenders. The virus has
hit right at the time when
cate with family members
about farm and ranch transfer
with Sherri Noxel of Enter-
prising Generations. “Getting
the family united around a
major transition of the farm
business is important for long-
term success,” she said.
While the subject of farm
and ranch transfer can be a
diffi cult subject within fami-
lies, the subject is critical to
discuss. Diana Tourney, of
the Clackamas Small Busi-
ness Development Center,
said of the importance of
starting a transition early:
“Think of it as another crop
you will grow — this one is
your future.”
Given the climbing
average age of farmers and
ranchers, planning how
to pass down or pass on
family land is becoming
more critical. “The tidal
wave of farmland transition
isn’t coming — we’re in the
middle of it. But we also
have the solutions at our
fi ngertips,” said said Nellie
McAdams, a workshop
Chinese travel for the lunar
new year.
Japan’s economy suffered
from the SARS outbreak in
2003, but the damage was
limited to several months.
The big difference is that
Japan has far more Chinese
tourists these days.
Now “the impact on the
Japanese economy would be
far greater,” said Takahide
Kiuchi, executive econo-
presenter from the Oregon
Agricultural Trust. “This
event is designed to help
people discover and take the
next step toward transition-
ing or accessing land.”
The workshop also will
have sessions for new and
beginning farmers and
ranchers and those looking
to expand. Participants will
learn about business plan-
ning, fi nancing, leasing and
ag real estate. “The goal of the
Changing Hands workshop
is to educate and to help build
the connections among cur-
rent, retiring and new opera-
tors that might become leases
or other business opportuni-
ties,” said Nella Mae Parks,
the event’s coordinator.
The workshop will be
held from 10 a.m. to 4 p.m.
at the Blue Mountain Com-
munity College campus. The
registration fee is $20 ($10
for current ag students) and
includes lunch. Registration
and more information is
available at www.rogue-
farmcorps.org/planning.
mist at Nomura Research
Institute, while adding
that much depends on how
widespread the outbreak
proves to be.
“There is hardly anything
good that can be hoped
for economically because
of the new virus,” he said.
Increased sales of masks
and other protective gear, he
noted, will hardly pick up
the slack.
C LASSIFIEDS
Published by The Observer & Baker City Herald - Serving Wallowa, Union and Baker Counties
PLACING YOUR AD IS EASY...Union, Wallowa, and Baker Counties
Phone La
Grande - 541-963-3161 Baker City - 541-523-3673
On-Line:
www.lagrandeobserver.com
www.bakercityherald.com
Email:
Classifieds@lagrandeobserver.com
Classifieds@bakercityherald.com
110 Announcements
110 Announcements
NORTHEAST
OREGON CLASSIFIEDS
reserves the right to reject
ads that do not comply with
state and federal regulations
or that are offensive, false,
misleading, deceptive or
otherwise unacceptable
CHECK YOUR AD
ON THE FIRST DAY OF
PUBLICATION
We make every effort to avoid
errors, however mistakes do
slip through.
PLEASE check your ad(s)
the first day of publication and
call us immediately
if you find an error.
Northeast Oregon Classifieds
will cheerfully make your
correction & extend your ad 1 day
You too can use this
ATTENTION GETTER!
Ask how you can get your
ad to stand out like this!
LOOK BEFORE
YOU LEAP
Checking the classified
ads before you shop can
save time and bucks.
THE DEADLINE
for placing a
CLASSIFIED AD
is 11:00 A.M.
ONE BUSINESS DAY
BEFORE PUBLICATION
Publication Days:
Mondays
Wednesdays
and Fridays
114 Self-Help
Group Meetings
AL-ANON, Cove. Keep coming
back. Mondays, 7-8pm. Calvary
Baptist Church. 707 Main, Cove.
AA MEETINGS
Wednesday Nights, 7-8:15pm.
Fort Union Grange Hall, corner
of Mc Alister & Gekeler Lanes.
For more info, call 541-786-1222
DO YOU HAVE............
HURTS, HABITS
and/or HANG UPS?
12 Step Biblical Support
Harvest Church
3720 Birch St. Baker City
Thurs., 6:30 - 8:30 PM
Classifieds get results.
LA GRANDE NOW HAS A
GAMBLERS ANONYMOUS
MEETING!
Every Friday Night @5pm, 2107
Gekeler Ln, LG, Church of Christ
basement. For more info please
call 971-219-8411
Fax:
La Grande - 541-963-3674
Baker City - 541-523-6426
114 Self-Help
Group Meetings
PARKINSON’S
SUPPORT
GROUP, open to those with
Parkinson’s/Caregiver’s. Con-
tact Judith Sather at 208-855-
9199. Group will resume the
Third Monday in April 2020
at 4:30pm at GRH
AL-ANON FAMILY GROUP
(support for family & friends of
Alcoholics)
Tuesday evenings
Joseph Methodist Church
(basement on northside)
Joseph, OR
6-7pm. Contact 541-398-1398
ALZHEIMERS-DEMENTIA
Support Group meeting
2nd Friday of every mo.
11:30 am to 1:00 pm.
1250 Hughes Lane Baker City
Church of the Nazarene
(In the Fellowship Hall)
541-523-9845
DEADLINES:
LINE ADS:
Monday: noon Friday
Wednesday: noon Tuesday
Friday: noon Thursday
DISPLAY ADS:
2 Days Prior to
Publication Date
114 Self-Help
Group Meetings
114 Self-Help
Group Meetings
AL-ANON
NARCOTICS ANONYMOUS
Goin’ Straight Group Meetings
Mon., Thurs., & Fri.,; 8 PM
Episcopal Church Basement
2177 1st Street ࢹBaker City
Wed., 4 p.m. ࢨ Halfway Library
(Please use back door)
Corner of Church St. /Gover Ln.
Halfway, OR
(541) 540-5326
SAFE HAVEN
Alzheimer/Dementia
Caregivers Support Group
2nd Friday of every month
at 11:45 AM
Fellowship Hall (right wing)
Nazarene Church
1250 Hughes Lane, Baker City
AL-ANON
Concerned about
someone else’s drinking?
Saturday, 9 a.m.
Northeast OR
Compassion Center
1250 Hughes Ln.
Baker City
(509)420-0495
AA MEETING:
Survivor Group
Mon., Wed. & Thurs.
12:05 pm-1:05 pm.
Presbyterian Church,
1995 4th St. (4th & Court Sts.)
Baker City. Open,
No smoking.
NORTHEAST
OREGON CLASSIFIEDS
offers Self Help & Support
Group Announcements
at no charge
For Baker City call:
Julie (541)-523-3673
For LaGrande call:
Devi- (541) 963-3161