Airbnb review: 5 stars for location, 1 star for no microwave [Marco Bottigelli/Moment via GettyImages]
That "new car smell" doesn't just happen on its own. A team of trained noses sniffs your seat leather and steering wheel plastic to curate an intoxicating scent. It's an art.
Stocks bounced back yesterday, even though the Fed signaled it could begin reducing its economy-boosting bond purchases soon and raise interest rates as early as next year.
Welcome to workationland... Airbnb CEO Brian Chesky predicts a revolution: a travel revolution. At a conference this week, Chesky said he expects the industry to bounce back bigger than ever. Chesky believes a “travel revolution” will usher in a new golden age of travel, that’s more free-style than pre-pandemic travel. What he expects:
You say you want a travel-ution… Airbnb is a comeback story of the corona-conomy. The rental icon lost 80% of its business when the pandemic hit. But it quickly embraced the work-from-home life and catered to changing travel trends. Since then, sales have rebounded to exceed pre-pandemic levels. How Airbnb’s ushering in the travel-ution:
Revolutionize to thrive... is better than “adapt to survive.” Airbnb thrived during the pandemic by recognizing the “old” travel biz was gone, and quickly building new experiences for remote, Covid-conscious customers. But it’s harder for some travel companies to adapt: Despite a rebound in leisure trips, the airline biz is struggling. Business travel, which brings in 75% of airlines' profits, still isn't budging back.
Square-toe heels out in public... Princess Polly just hit the US public market. You've probably seen Gen Z “microinfluencers” doing hauls of its clothes (#PollyHaul). The trendy online fashion boutique, owned by A.K.A Brands, is one of the first fast-fashionistas to hit Wall Street since ASOS. Like ultra-fast fashion giant Shein, A.K.A churns out 500 to 800 styles per week across its brands, which include Princess Polly, Petal & Pup, and Rebdolls. But A.K.A. shares fell 9% after their NYSE debut.
Recycled t-shirt bidding war... The ~$30B fast-fashion market is projected to grow 22% this year from 2020 – but younger consumers don't love the environmental price tag, and are willing to pay extra for more sustainable fashion. Now, fast-fashion brands are trying to hop on the green wave. Polly launched an "Earth Club" and started using "low-impact" clothing material, H&M plans to use 30% recycled materials by 2025, and UK-based BooHoo pledged to halve emissions by 2030.
Fashion isn't sustainable, but sustainability is fashionable.. On one end, we've got recommerce brands like ThredUp and Poshmark that have leaned in to green. On the other, brands like Shein and Forever21 are focused on constantly-changing trends — which requires churning out thousands of new items each day. Gen Z controls $140B+ in spending power, and 25% of GenZ'ers say their purchasing decisions are influenced by environmental impact. Fast-fashion may have to change to stay on trend.
Authors of this Snacks own shares of: Apple, Amazon, Netflix