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Just in time for Black Friday, Snapchat last week launched “Shop and Cop,” its first-ever dedicated shopping channel on Discover. According to Snapchat’s description of the channel, it will feature “everything from exclusive drops to unique offers,” and users can get the deals without having to leave the app.Read more
Neighborhood Goods‘ 14,000 square foot space is a retail concept that feels at once both familiar and completely new. Like a traditional department store, Neighborhood Goods is responsible for the staffing and design of the space, stocked with products from third-party brands. Unlike traditional stores, however, the brands on display will regularly change, giving visitors a reason to come back again. Among brands stocked at the time of the store’s launch are direct-to-consumer players like The Inside, Allswell and Primary, with spaces from other retailers including Stadium Goods and Draper James.Read more
Just weeks ago, we showed you a colorful visualization that breaks down the $80 trillion global economy.
While such a view provides useful context on the relative size of national economies, it’s also a static snapshot that doesn’t show any movement over time. In other words, we can see the size of any given economy today, but not how it got there.
Today’s animation comes to us from Jaime Albella and it charts how GDP has changed over the last 57 years for the world’s 10 largest economies…Read more
Japanese and Finnish ministers saw the potential of the circular economy to renew the global economy at the World Circular Economy Forum 2018. The world’s top circular economy event gathered over 1,000 reformers of the global economy to Yokohama, Japan.
“Japan will bring the output of this forum to various international conferences such as the Asia-Pacific 3R promotion forum, United Nations Environment Assembly UNEA4 and G20, which Japan will be the chair country of next year, and show strong leadership for the circular economy,” the minister said at the closing of the WCEF2018.Read more
A new report identifies 10 distinct shopping styles that characterize Gen-Z and Millennial consumers, and the report suggests ways that retailers and landlords can best serve those groups.
ICSC concurs. “The younger demographics are pressing retailers to innovate and incorporate technology to fit their needs, on their terms,” said Stephanie Cegielski, ICSC’s vice president of public relations. “This study reveals [that] the youngest — and thus future — consumer [is demanding] an integrated, personal experience throughout their shopping journey, both on and offline.”Read more
China has a rising digital economy, which is equal to 30.3% of GDP or 22.6 trillion yuan ($3.35 trillion) and is driven to a large extent by leading technology companies Baidu, Alibaba, and Tencent. These companies at the forefront of innovation give credence to the idea that the digital economy will soon become the economy, in the not-too-distant future.
Why? New areas of the digital economy, including the Internet of Things, virtual currencies, financial technology, artificial intelligence, advanced robotics, and big data are expanding rapidly in China. The digital economy is also spreading through traditional sectors such as education, industry, and health care, improving efficiency and adding value in these areas.
If every U.S. industry could match the growth of the digital sector, the economy would be expanding at a much faster clip.
The digital economy has grown at an average annual rate of 5.6 percent in the 11 years through 2016, compared with 1.5 percent growth in the economy as a whole, according to a report Thursday by the Commerce Department’s Bureau of Economic Analysis.
The report showed the sector, which includes network infrastructure, e-commerce and digital media, accounted for $1.2 trillion, or 6.5 percent, of gross domestic product in 2016. The BEA said it was the first time it had released such data on the size and growth of the digital economy.
If the sharing economy is an idea whose time has arrived, Singapore is front and centre. Its modern information and communication technology (ICT) infrastructure and usage, demographics, tourism, consumer preferences and government support are all key drivers of the so-called shareconomy.
The sharing economy – or “shareconomy” – is loosely defined as an economy built on sharing, swapping, trading or renting products and services using online platforms: think Uber, Taxify and Airbnb. It generates economic activity by enabling people to share and earn income from underused assets such as cars, apartments and tools – and city-state Singapore is an early adopter.
With the global population rapidly increasing, it’s become essential to review our current system to adapt to the growing demand for basic goods and decrease the waste that mass production generates.
The circular economy offers an alternative solution to our current model of ‘take-make-dispose’. It reduces waste and extraction of raw materials, as resources are continuously reused and repurposed to create new products.
At the same time, digitalisation is progressing rapidly. For the first time, we have the opportunity to scale up circular economy business models swiftly and widely to put us on course for a more sustainable future.
In June 2017, LWARB launched its Circular Economy Route Map to accelerate London’s transition to become a circular city.
London is growing fast. With the capital’s population predicted to reach over 11 million by 2050, a more flexible and sustainable approach to products, housing, office space and critical infrastructure is crucial to London’s ability to adapt and grow.
By 2036, the circular economy could provide London with net benefits of at least £7bn every year in the sectors of built environment, food, textiles, electricals and plastics, as well as 12,000 net new jobs in the areas of re-use, remanufacturing and materials innovation.
By 2050, 75 per cent of the world’s population will live in cities and their rapid growth is putting enormous pressure on resources, carrying capacities, and quality of life.
Cities already produce half of global waste and 60-80 per cent of greenhouse gas emissions. Land and buildings are also under-utilised in cities. For example, in the UK alone there are 700,000 empty homes – 22,000 in London alone.
Circularity in resource flows is a way of reducing the consumption of resources, such as energy, water, buildings and land in cities. Cities have a great catalytic power to develop new economic models that make the most of what they have.
The sharing economy has rapidly emerged as a large and expanding force. At first glance, it seems mainly limited to the mobility industry (Uber and China’s Didi Chuxing) and the hospitality industry (Airbnb). But the economic foundations of sharing are broad. Many other industries could soon face the disruption experienced by taxi fleets and hotel chains—as the emergence of Boatbound (leisure boat rental), PeerBy (neighborhood exchange of household items), and Vrumi (rooms rented out as office space) illustrates.Read more
Humanity has a waste problem. Globally, we generate about 1.3 billion tons of trash per year, far more than we can properly process or recycle. This leads to environmental tragedies like ocean plastic pollution and geopolitical tensions as Western countries search for new places to stash their trash.
Because we waste so much, we must extract unsustainable quantities of natural resources to keep pace with growing consumption. OECD has calculated that flow of materials through acquisition, transportation, processing, manufacturing, use and disposal are already responsible for approximately 50 percent of greenhouse gas emissions. The UN International Resources Panel projects the use of natural resources to more than double by 2050.
How did we get here? In short, most of our global economy is designed for linearity—take, make, waste—rather than circularity. To create a truly circular economy, the world must overcome the following five barriers.
The need and the opportunity to transition to a circular economy—an economic model that is restorative and regenerative by design—have become clear to many industries over the last 5 years. Companies like Apple and Google are innovating or redesigning their products and services to minimize resources utilized in production and to promote reuse and recycling of their products. The scale of these efforts, however, is often constrained by barriers in the supply chain and ecosystem. For example, creating a product that is more easily recycled will do little to reduce environmental impact in the absence of recycling infrastructure or consumer awareness. Without collaborative action across sectors and across supply chains, these nascent efforts will fail to meet their full potential.Read more
Lower-income countries are in many ways more ‘circular’ than their developed-economy counterparts – the question is how to turn this into a development opportunity.Read more
Participants of the IV East Economic Forum (EEF) within one of key sessions have discussed the subject devoted to digitalization of economy and also what opportunities and prospects in this sphere are offered for the Far East. In particular, they have noted that digitalization is one of relevant trends of development of economy and society. “Digital revolution gives huge opportunities in the monetary sphere. (…)Read more
Circular business models have to replace linear. Creation of break for the concept of services instead of products for a wide range of consumption — such as computers, mobile phones, household appliances, cars, furniture and textiles will be one of specific objectives on the future. Even in the real estate market the same principles can be applied. One of innovators of the concept, the member of the Roman club Walter Stajel, formulates it as follows: “The social wealth and welfare should be measured by assets instead of streams, the capital instead of the number of sales…Read more
Fundamentals of circular economy in China is the concept “green gold”. The president Xi Jinping has noted that this concept, transition to a new era of a what civilization and construction of “Beautiful China” are a key to implementation of the project of “the Chinese dream” for rejuvenation of the nation. As China firmly supports and actively realizes the concept and actions in the field of sustainable development at the global level, his efforts on creation of a what civilization will make the significant contribution by 2030.Read more