For the PSFK newsletters in 2021, we wanted to tweak the direction a little and share the new ideas that our research team has been noticing (and bookmarking) in the last 7 or so days. We hope you find this round up of the things we have been tracking here at PSFK insightful.
Responding to misinformation and bubbles
To say we’re at a crossroads with the truth right now is a bit of an understatement. Sadly, the media and information we consume often lack context and it’s too easy to go down a rabbit hole of research that only reinforces our current opinion. It’s exciting to see movements actively seeking to reverse these trends.
We spend a lot of time talking about personalization here at PSFK. That personalization comes at the price of having to share data, but the juice is typically worth the squeeze. Within our social media feeds, personalization takes on a more nefarious tone. Monolithic content, groupthink, and a lack of dissenting opinions have taken an obvious toll on our culture. A group of researchers from Denmark and Finland has set out to pop the filter bubble.
Social media platforms have acknowledged this issue as well and are taking various types of action. Twitter has just launched Birdwatch, which allows users to append notes to tweets providing further content (‘this was an April fools joke!). Currently only available to a small group of beta testers, you can sign up here if you want to help set the record straight.
Embracing randomness and surprise
Related to the above, so many aspects of our digital lives are dictated by algorithms that seemingly know us so well that things can start feeling downright sanitized and predictable. Far be it from us to expect the likes of Netflix to take us too far outside our comfort zone, but the sentiment is still appreciated.
We’ve all been there… surfing the endless amount of content on Netflix and still can’t find something to watch. Enter ‘Shuffle Play,’ which has proven popular enough amongst test users that it will roll out to all subscribers worldwide this year.
Fancy some merch from fashionable brands like Moncler, Balenciaga, and Off-White? Well, some savvy liquidators will ship you a box of goods, with a catch… you don’t know what’s inside until you open it.
Mind games
Along with climate change, Apple’s Tim Cook has called out privacy as the defining issue of our century. It’s no wonder, when you consider that bit by bit, our behaviors and activities are increasingly tracked, analyzed and commoditized both on and offline. At least they haven’t gotten to our thoughts and feelings or have they?
Gaming is now both a sport and a viable career option. With spending on gaming hardware, software and accessories up 27% in 2020, it’s also an incredibly popular and growing pastime. Enter the future of esports training. The NeuroLeet brain-training wearable is designed to fit onto an existing gaming headset and scan a gamer’s brain waves as they play to improve their mental acuity and performance.
While invading our sleep to market their latest frost-brewed technology sounds more like the stuff of nightmares that isn’t stopping Coors from trying to become the brand of our dreams. Despite being locked out of the upcoming Super Bowl, the beverage brand is using a technique called ‘targeted dream incubation’ to subliminally message to any willing participants the night before the big game.
Banking on it
Given the rich data associated with payments and the ability to capture more revenue from existing customers, it’s no surprise to see many of the world’s biggest companies beginning to make moves in the fintech space.
The trend towards in-stream shopping and payments continues to proliferate. Douyin, the Chinese version of TikTok, has just launched Douyin Pay. Now, you can learn some fancy new dance moves, while simultaneously buying merch from your favorite Internet stars with the click of a button.
Walmart is doubling down on its slogan — ‘Save Money, Live Better.’ The retail giant has announced plans to launch a financial services offering. They haven’t provided much detail, but they are partnering with Ribbit Capital, a fintech investment venture capital group that has helped fund major players like Affirm, Credit Karma, and hot-topic of the moment, Robinhood.
The Art of Debtedness
With conversations around wealth disparity and economic inequality on blast this week, it’s noteworthy to see recent efforts to expose the debt many people have to incur for basics like healthcare and higher education.
Debt is a hot topic these days, providing both stress and… artistic inspiration. Natty Light, every college freshmen’s favorite beer, has commissioned what they are billing as the ‘Most Expensive Piece of Art in the World.’ The installation, which resides in the New York City’s Grand Central Terminal, is made up of 2,600 college diplomas. The cost of the average four-year college tuition multiplied by 2,600 makes the piece worth a whopping $470 million. The piece is part of an awareness campaign tied to the Natural Light College Debt Relief program, which originally launched in 2018 and aims to relieve student debt.
New York art collective, MSCHF has set out to deliver commentary on the problem of medical debt in the United States. A series of 6-foot tall canvases have been painted to resemble the medical bills of real people suffering in the face of insurmountable debt. Shares in the nearly $75K artworks are available through OTIS, a site that allows the public to micro-invest in cultural objects thus offsetting the debt of the 3 individuals.
Hope you enjoyed our return!
One last item: Metal, transistors, pneumatic tubes, and leaden eyelids with no spark of life lurking behind them, it’s the 100th Anniversary of the term ‘Robot.’ Let’s celebrate! Cue music and dancing.
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If you’re missing the previous style of email — don’t worry, we’re still sending the analysis pieces as the PSFK Weekly Debrief. You can sign up here.
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What we are working on at PSFK
We just put the wraps on Retail Innovation Week. 4 days, 80 speakers and lots of sleepless nights, but it was all worth it. You can check out the fruits of our labors here. All the talks, in full, for free.
Our next event, the Future of Retail 2021 Sessions takes place on February 25th at 11am. RSVP for free here!
