Small Business Labs

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Pet Obsessed Millennials Pamper Their "Fur Babies"

Small Business Labs

It will come as no surprise to anyone who knows a pet owning millennial that they're, on average, a bit obsessed with their "fur babies"   Our favorite finding is over 8 in 10 (84%) millennial pet owners report experiencing separation anxiety when away from their pets for even short periods of time, like when running errands. 

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Intuit 2020 Report: The Future of Financial Services

Small Business Labs

Intuit recently released a new report on The Future of Financial Services.  We have a blog post on Banking.com with more on the report, which covered 4 broad trend areas: 1.    Click here to download the report. We'll have more on this in the coming weeks including what it means for small businesses. 

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The Paradox of Increasing Business Travel; Skift's 2020 Travel Trends

Small Business Labs

Because of their remit, they report on a wide range of interesting trends. Platforms Simplify the Ancillary Purchase Process. Key quote from the report on this trend: Video and digital collaboration tools have transformed the modern workplace. Skift is one of our favorite publications. Travelers Demand an End-to-End Experience.

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Growing Direct Selling Industry Employs Over 20 Million Americans

Small Business Labs

  According to the DSA the top motivations include: Being able to purchase products one likes at a discounted price (62%).   Also like the ODE, direct sellers report being satisfied with their work. Flexibility and work-life balance (65%).

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The Strong Job Market's Impact on Independent Work

Small Business Labs

That means the purchasing power of Americans went down during that period.   All of these impacts and changes are covered in more detail in the 2018 MBO Partners State of Independence report , which we work with MBO Partners on. This is leading to more highly skilled workers going independent. 

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The Rise of Coworking and the Variable Cost Economy

Small Business Labs

As we pointed out in the 2008 Intuit report The New Artisan Economy : … by the beginning of the 21 st century, ownership of large-scale infrastructures no longer determined business success in a growing number of industries. .  Coworking turned a fixed cost (long term lease) into a variable cost (month to month membership). 

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The Age of Co-Creativity

Small Business Labs

.  This growing group of consumers believes it is important to purchase products with social or environmental benefits.    BBMG recently released a new report on co-creativity.    The key message in this report is that you no longer market to consumers, you market with them.