Pets REALLY are an extension of the friends and family circle

Pets REALLY are an extension of the friends and family circle

 

40% of pet owners are buying products from online retailers. Fascinating to see how ideas that went bust during the 90’s dotcom crash are back – bigger than ever.  Pets.com is the most recognized flop from that era. People loved the concept (and the sock puppet) but the shipping costs killed the business.

Now, however:

  • The Internet is the new “pet parent,” according to Packaged Facts’ U.S. Pet Market Outlook, 2017-2018.
  • M&A activity since 2016 points to a structural remix of the pet market e.g. Mars bought VCA Inc., PetSmart bought Chewy.com, and Walmart bought Jet.com (which is big in pet supplies)
  • People are buying more pet products online and spending more of their pet product dollars online.

So how are traditional retailers competing?

  • Pet specialty stores are offering grooming, boarding, and training.
  • Supermarkets are increasing the size and scope of their pet care departments, sponsoring pet contests, running promotions with animal rescue groups and filling pet prescriptions.

Read on below for more pet biz trends from Rover.com, the online network for pet sitters and dog walkers.

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Changing Demographics: Major Shifts On the Horizon

Changing Demographics: Major Shifts On the Horizon

 

EXCELLENT study from the Pew Research Center showing how work, family and living arrangements are reshaping the lives of people in the United States and around the world.

Here are the highlights. More detailed info in link above.

Millennials will grow thru 2036

  • 80 million millennials (ages 18 to 35 in 2016) compared to 74 million Baby Boomers (ages 52 to 70).
  • More living with their parents than with a romantic partner (a historic first)
  • Fewer are married, homeowners or parents

Americans’ lives at home are changing

  • Only half are married down from 70% in 1950.
  • Cohabiting relationships rose 29% between 2007 and 2016, from 14 million to 18 million.
  • Cohabitation among those 50 and older increased by 75%
  • The “gray divorce” rate (50 and older) doubled between 1990 and 2015
  • A record number (61 million) are living in multigenerational households led by Asian and Hispanic populations.

Women may never make up half of the U.S. labor force

  • Women accounted for 47% of the U.S. labor force in 2015
  • The Bureau of Labor Statistics projects that will remain the peak participation rate until 2025 when it starts to taper off.
  • Women earned $0.83 for every $1 a man earned in 2015, up from $0.64 in 1980.
  • Among 25 to 34 year olds, women made 90% of what their male counterparts made.
  • Women continue to be underrepresented in leadership positions.
  • Women make up 19% of the U.S. Congress; 8% of U.S. governors and 5% of Fortune 500 CEOs.

Read on below for more on immigration, birth rates and refugees.

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PSFK 2017 Innovation With Purpose: 5 of the Most Inspiring Speakers

PSFK 2017 Innovation With Purpose: 5 of the Most Inspiring Speakers

Source: PSFK

 

So many great speakers at this year’s event – from many different industries and all parts of the world.

  • The one I missed seeing is the one I hear was most inspiring: Coss Marte, CEO and Founder of ConBody. He’s an ex-con (former drug kingpin in my neighborhood!) who totally turned his life around through fitness. But I did see him at the Sak’s Wellery last week doing a bootcamp training session. He also has a TED Talk that I am going to check out based on the rave reviews he got at PSFK.

Here, are the 5 speakers that I did see – all absolutely stellar:

Jan Chipchase, Anthropologist & Author of The Field Study Handbook

  • He calls himself a Cultural Clairvoyant but I think he’s like the Anthony Bourdain of Insights.
  • He, and a small team, travel to godforsaken parts of the world to live in tandem with the people they’re studying.
  • These untapped, edge-of-grid markets range from Afghanistan to villages in China without running water or addresses.
  • Clients include corporations, non-profits and governments.
  • Very impressively, he just did a kickstarter for his new book, The Field Study Handbook. His intention was to raise $25K. He raised $250K in 9 days. Well done, sir!!

Read on below for more.

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Highs and Lows of the Week: The Lows Have The Edge Unfortunately

Highs and Lows of the Week: The Lows Have The Edge Unfortunately

 

Was planning to do a new post series for Sundays around the “most notable thing of the week.” Of course, I envisioned it to be about something amazing. And indeed I do want to touch on last Wednesday’s sail around NY Harbor which was one of the most glorious things I have done in a long while.

  • A group of us booked the Sunset Sail on the Shearwater, a classic Newport-style schooner built in 1929.
  • We drank wine and noshed on baguettes with foie gras (brought over from Toulouse by my friend’s mom). It was a magnificent night out on the water.
  • The boat seats 43 people and you book online.  It’s $45 for the sunset sail (but they have a wide variety of options including brunch and wine and cheese tasting). HIGHLY RECOMMEND.

Now onto my major fumble of the week – perhaps that should be a series? I’ve written before about how excited I was to do an interview at the annual PSFK conference. Well it happened and I was gobsmacked by how utterly terrible I was. And I’m still not clear as to why I let it happen.

  • I had done a similar interview previously – and did a killer job of it, my client rated it a 10.
  • And it’s not like this was my first rodeo. I’ve done hundreds of keynotes and major speaking events.
  • How I messed up so badly this week is beyond me. But since this is probably something at least a few of us have experienced, I’m going to do a hindsight review of what went wrong and what I need to do in the future to make sure this doesn’t happen again.

Read on below.

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Trend Alert: Gold Shoes and Stone-Washed Denim Are A Thing Now

Trend Alert: Gold Shoes and Stone-Washed Denim Are A Thing Now

 

Based on my rule of “see it three times” and it might just be a trend, I have to report that gold shoes (sneakers, boots, heels) and stone-washed denim (not necessarily worn together) are all the rage in NYC. Am not a big fan of either of these looks but have been spying them everywhere: The Lower East Side, La Guardia airport and even Ludlow House.

Here are some additional examples:

See Pics below.

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Hiring Trends: Remember When Job Hopping Was Bad?

Hiring Trends: Remember When Job Hopping Was Bad?

 

Two recent workplace studies. First, the results from Beyond’s nationwide study of 11,000 people (evenly split between employed and unemployed job seekers):

1. Traditional markers of success such as salary and company tenure aren’t as relevant

  • 77% believe they have achieved career success
  • Top reason: pride in their work (48%), which ranked well above money (2%) as an indicator of success (note: I find 2% hard to believe but hey, it’s not my study).
  • Tenure at one job is an anomaly. Only 8% of those who feel they’ve achieved career success have worked for just one company.

2. Today’s job seekers are impatient

  • 46% say six months to one year is how long they would “stick out” a job that doesn’t make them happy.
  • Job hopping is more useful for career advancement than working for a promotion.
  • The days of building a career from the ground up and advancing up the corporate ladder at one company are long gone.

3. The majority of Millennials aren’t too career-oriented for the time being

  • 58% say they’re happy with a “job”
  • 42% prefer a “career”

4. Mentors are important for career success

  • 87% of workers with mentors believe their careers have been successful.

 

Read on below for LinkedIn’s annual hiring study – besides seeing what industries are hot, it’s helpful to use this info to tweak your resume and linkedin profile.

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Traditional Retail In A Heap Of Trouble But Opportunities Are Emerging

Traditional Retail In A Heap Of Trouble But Opportunities Are Emerging

This past week I attempted to shop in stores in preparation for my upcoming trip. The in-store experience was grim – it sent me back to Amazon in a hurry.

Here are two examples of how miserable shopping has become:

  • At Bloomingdale’s Soho: Tried to buy a small, lightweight umbrella. Nobody knew if they carried umbrellas. One sales person sent me to the cafeteria. I checked out the men’s dept., found a few umbrellas but they were all too big. Frustrated and sad I left the store empty-handed.
  • At COS on Spring Street: Still a favorite store (and very busy). I found 5 outfits and then happened upon a favorite pair of pants (I bought 3 pairs last year). They did not have my size in store. I asked if they could check if they had them online. NO they could not. I asked if they could call the 5th Avenue store to see if they had them – my goal was to buy 5 pairs. NO they could not. After I got home with my purchases, I went online to order. Could not find them. Called customer support. They could not locate by product number. Ugh!! How can you have an item in multiple sizes in store but have no record of it online? That would have been a $500 order. How many other orders are going unfulfilled because of shoddy logistics?

But enough griping. There are some positives developing for retail . Not sure if it’s enough to overcome the dismal daily news of closings and bankruptcies but we will take all the good news we can get.

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PSFK 2017 Conference: Great Speaker Line-Up, Highly Recommend!

PSFK 2017 Conference: Great Speaker Line-Up, Highly Recommend!

 

Big fan of the annual PSFK event held in NYC.  Always built around an incredibly prescient, relevant theme: this year’s is Innovation With Purpose. And it goes without saying, always excellent, inspiring speakers.

  • Not only will I be attending this year, I will be on stage interviewing Nicholas Morgenstern of Morgenstern’s Finest Ice Cream about how he created his business, who influences and inspires him, how we picks his partners and collaborators, and where he sees the restaurant and culinary world heading over the next decade.

Besides Nicholas, I am especially looking forward to hearing from:

If you’re in NYC, I highly recommend this conference – and if you do attend, please come and say hello.

Information on tickets, here.

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