We first launched Shiftonomics as a weekly newsletter covering all the stories about the future of work across industries, from manufacturing to retail. A year and some change later, we’re thrilled to grow such an avid community.
While we’re still dedicated to providing the same great insights and highlights from the world of work, we have decided to shift things up a bit with Shifto and move to a bi-weekly cadence. Stay tuned for our newsletter, which will now publish every couple of weeks, and our blog, where we will bring you more frontline stories, including unique Q&As and posts to offer a wider range of perspectives.
Thank you for your continued readership and we look forward to the next wave of Shiftonomics.
And now back to our original programming -- it’s Final Four time, and it's taking place in our own backyard! What better way to celebrate than with a few findings that show March Madness is good for retail stocks. We’ve got our eyes on this and more, including the new Apple Pay card and why traditional work continues to win out over the gig economy.
🏀 March Madness is good for retail stocks
😻 Kondo Craze Hits Retail
🚘 Why Hasn't The Gig Economy Killed Traditional Work?
💳 Apple Card's fine print: 7 things you should know about Apple's new iPhone credit card
🏬 Wayfair defines its offline strategy as it pushes into permanent retail
🏀 March Madness is good for retail stocks | Via: cnbc.com
Just when you thought your bracket was awash, it’s actually fueling the retail sector. CNBC states that over the past decade, the U.S. retail industry group has outperformed the Consumer Discretionary sector after March Madness:
* The US retail industry group has traded higher 90% of time with an average return of more than 3% and also beats the broader S&P 500 handily, according to a CNBC analysis of Kensho.
* This lead continues to hold up to a month after the start of the tournament.
😻 Kondo Craze Hits Retail | Via: AdAge
Marie Kondo’s hit Netflix show has the world tidying things up and identifying what truly sparks joy. KonMari is sparking joy among retailers, especially sellers of storage products like Container Store and secondhand clothing companies like ThredUp. AdAge’s Adrianne Pasquarelli has more:
- In January, sales of stackable file drawers grew 17 percent year-over-year—a sizable jump compared with the 1 percent full-year growth of 2018 over 2017, according to market research firm NPD Group.
- Following the Kondo show's debut, ThredUp, a San Francisco-based clothing resale site founded in 2009, says it saw an 80 percent spike above average orders of its cleanout kits, which consumers use to resell their unwanted apparel.
🚘 Why Hasn't The Gig Economy Killed Traditional Work | Via: NPR's Planet Money
Planet Money’s Greg Rolasky dives into the misconceptions around how prevalent the gig economy is and why traditional employment is still alive and thriving
- The U.S. Bureau of Labor Statistics (BLS) found that there was actually a decline in the categories of jobs associated with the gig economy between 2005 and 2017.
- Arun Sundararajan, a professor at the NYU Stern School of Business and the author of The Sharing Economy: The End of Employment and the Rise of Crowd-Based Capitalism, remains a true believer in the gig revolution, but acknowledges the advantages of stability, a steady paycheck, and benefits have kept workers seeking full-time employment.
- As big as these efficiency gains have been from the Internet reducing transaction costs, a new economy based on crowds of people doing gigs through digital platforms still doesn't compare to one based on the efficiencies and stability of the good old-fashioned company.
💳 Apple Card's fine print: 7 things you should know about Apple's new iPhone credit card | Via: CNET
It was just last week when Apple announced its new Apple Card credit card with great fanfare. CNET’s Jessica Dolcourt takes a deeper dive into the fine print and highlights top things you should know before getting one:
- Like any other credit card -- you’ll still need to qualify. The company's presentation made it seem like anyone could open the Wallet app, apply for the Apple Card and begin using it a few minutes later. That may be the case for many, but you still have to qualify to be approved for an Apple Card.
- While Apple won't charge you a penalty for missing a payment -- for example, no $25 late fee in addition to what you already owe -- you'll still get charged interest.
🏬 Wayfair defines its offline strategy as it pushes into permanent retail | Via: Digiday
Wayfair is the latest online retailer to go from a sprinkle of pop-ups to full-fledge storefront, launching in Boston’s Natick Mall this fall. Digiday’s Suman Bhattacharyya shares more details:
- The physical store is a way to bring the brand to life in a new format, and more closely resembles a traditional mall store where customers buy and return products inside stores, along with a delivery-to-home option.
- According to Gartner L2 data, Wayfair is still the top home retailer that appears against furniture keywords searched appearing against 80 percent of search terms in the category last year.
- Physical stores also have an impact on driving traffic to online stores: According to a 2018 International Council of Shopping Centers study, for emerging brands, physical stores help increase online traffic by an average of 45 percent within a given market.
Have an interesting story about the world of hourly work or want to be featured in Shiftonomics? Reach out to us at firstname.lastname@example.org.