Brands Must Embrace the Novice Consumer + Experience Matters Online

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The footwear industry has struggled with a sales slump during the pandemic, but the outdoor market has performed well — even seeing substantial growth as the weather has improved. Today, FN hosted several industry experts in its latest virtual roundtable discussion, presented by Afterpay, about what is to come for the outdoor industry and its consumers.

In “Outdoor & Fashion: The New Frontier — How Reinvention Will Reshape The Market,” executives from Birkenstock, Merrell, NPD Group and Afterpay came together for a conversation about both short- and long-term trends. With more consumers participating in sporting activities and shopping differently, the industry is facing a new retail landscape.

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FN senior outdoor and athletic editor Peter Verry moderated the conversation. He was joined by Melissa Davis, chief revenue officer at Afterpay; David Kahan, CEO at Birkenstock; Chris Hufnagel, global brand president

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Local gyms, yoga studios try to stay afloat as they sue NY, challenging indoor use ban

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Charlie Link has run Phoenix Fitness from a large former warehouse in Tuckahoe, New York, for more than 18 years.

With about 1,000 customers, Phoenix has been a profitable passion.

But with his speech therapist wife out of work due to the coronavirus and the state continuing to ban the operation of indoor fitness businesses, Link’s 19th year in business is in doubt and, moreover, so is his future in the area.

“I can probably hang on another couple of months, at most,” Link, of Eastchester, said of his business.

Despite some members donating funds to him, he added, “If this continues, I’ll probably sell my house and move.”

The “this” is both the coronavirus and Gov. Andrew Cuomo’s response to it. 

Tobi Kundid, owner and director of Tovami Yoga in Mamaroneck for five years, demonstrates yoga poses in her studio July 14, 2020. Kundid is trying to stay afloat

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Credit card spending fell 50% in first month of lockdown

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Credit card spending in April dropped by 50% to £8.7bn. Photo: Getty
Credit card spending in April dropped by 50% to £8.7bn. Photo: Getty

Credit card spending in April dropped by 50% to £8.7bn ($11bn), compared with April 2019, new data from UK Finance reveals.

The number of credit card transactions by UK cardholders also saw a notable fall of 46% to 163 million, the lowest level in over nine years, as borrowers cut down on credit card spending as the coronavirus pandemic hit the country.

Outstanding balances on credit cards fell by £4.7bn in April, the largest monthly drop in over a decade, and more than double the £3.1bn fall in outstanding balances in March, as many consumers chose to make repayments rather than spend on their credit cards.

Spending on debit cards, however, remained strong in April, with the total value of transactions increasing by 0.9% to £51.8bn. This is despite the number of debit card transactions falling by 5.1%

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Got $1,000 in your checking? Make these moves ASAP

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So, you’ve been working your behind off and finally managed to save up a little cash. Now what?

While it feels great to see $1,000 in your bank account, you shouldn’t just let it sit there.

If you’re confused about where to start, don’t sweat it. Here are six ways you can meet your financial goals and watch your cash grow.

1. Hire a wealth manager (even if you’re not wealthy)

Everyone always talks about “investing” their wealth, but visiting the financial planner at your bank feels a little old-fashioned. Plus, who wants to waste a Saturday doing that?

There are companies that will act as your personal financial manager, and the great part is you don’t even have to put on your mask and leave the house. Welcome to investing in your sweatpants.

An online financial planning service is perfect for people who want top-of-the-line financial advice without the

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Target Created an Online Badge to Identify Black-Owned Brands on Its Site

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Though it might seem for some people that the traction surrounding the recent Black Lives Matter uprising had died down, in reality, the work is only just beginning. Companies and customers alike are still making important shifts in the way they operate in order to support Black communities fairly and more consistently. Some retailers, such as Sephora, have pledged to continually increase the number of Black-owned brands it carries in its stores, and some brands such as Lashify are participating in mentorship programs for Black business owners. Meanwhile, Target is rolling out an online feature to make it easier for customers to identify and shop from Black-owned brands.

Target’s new feature is a small beige badge showcasing several neutral-colored hearts, which the company is using to label all Black-owned and Black-founded brands on its website. The badge appears in the retailer’s “at a glance” category, located within each product page’s

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Congress Not Rushing To Prevent Lapse Of Extra $600 Unemployment Benefit

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WASHINGTON ― With two weeks until additional unemployment benefits expire, Congress remains at a standstill on another coronavirus package ― and the odds of lawmakers reaching a deal before people start missing payments are seeming increasingly long.

Despite some new consensus that the additional $600 in federal unemployment benefits shouldn’t disappear entirely, Republicans and Democrats are still far apart on an actual deal. Republicans are looking at a number closer to $200, and Democrats are pushing for benefits closer to $500. 

The benefits end on July 31, but Senate Majority Leader Mitch McConnell (R-Ky.) said Monday that senators won’t start negotiating in earnest until next week, when lawmakers return to the Capitol from recess. McConnell’s top priority for the legislation is protecting schools and businesses from coronavirus-related lawsuits — an idea Democratic leaders strongly oppose. 

The timing all but guarantees that even if Congress agrees to preserve benefits, it won’t

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Yield Farming Expands From Finance to Digital Collectibles

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Fresh soil can now be tilled for yield on Ethereum: the world of digital collectibles.

Yield farming has turned decentralized finance (DeFi) into the juggernaut of crypto earnings here in mid-2020, but one non-DeFi startup believes its users will also be interested in earning a new governance token for making trades. 

Starting Wednesday, Rarible, a dapp that enables users to create and market non-fungible tokens (NFTs), will begin keeping track of all transactions on the site in order to reward users each week with its new governance token: RARI.

Related: Crypto Luminaries Auction NFT ‘Art’ for Charity

In fact, the largest share of RARI will go to Rarible users who make trades, some 60% of the total supply. Trading amounts to mining for this new token.

That’s not all, however.

Rarible has also set aside tokens for two key groups. First, anyone who holds NFTs now will be able to

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Clarisonic Is Going Out of Business and Having a Huge Last-Chance Sale

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It’s the end of an era. 

Following nearly 16 years of launching innovative and often-imitated skin-care devices — most famously its Allure Best of Beauty and Readers’ Choice Award-winning electric cleansing brushes — Clarisonic is going out of business. The brand shocked fans when it announced the news on social media on Tuesday, July 14.

“After more than a decade of game-changing innovation and industry-leading technology, the Clarisonic brand will be shutting down as of September 30, 2020,” an Instagram post reads. “We want to thank all of our loyal customers, dermatologists, and retail partners who have helped put this brand on the map. It has been our absolute pleasure to serve you all of these years.”

The post goes on to announce a major sale: “Please take advantage of our LAST CHANCE 50% OFF EVERYTHING promotion at our authorized retailers, to stock up on your favorite Clarisonic products, while

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Cost of ensuring school safety complicates reopening plans

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As school districts across the country decide how and when they can bring students back to campus safely, a major sticking point is emerging: the money to make it happen.

Keeping public schools for 50 million students and more than 7 million staff safe from the coronavirus could require more teachers and substitutes, nurses and custodians. School districts will need to find more buses to allow for more space between children and buy more computers for distance learning. They’ll need to buy sanitizer, masks and other protective equipment. Some are putting up plastic dividers in offices and classrooms.

While public health concerns are getting most of the attention, especially with the nation’s infections and hospitalizations rising, costs have become a major consideration. Many districts are hoping Congress will step in.

The Council of Chief State School Officers says safely reopening public schools could cost between $158 billion and $245 billion,

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Coronavirus Testing Supersite Opens In Anaheim

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ANAHEIM, CA — Orange County and the city of Anaheim opened the largest coronavirus testing center at the Anaheim Convention Center, Wednesday. Dubbed The Supersite, the large-scale testing location at the Anaheim Convention Center will operate Wednesdays – Sundays from 8 a.m. to 3 p.m.

The cooperative effort between 360 Clinic and the City of Anaheim, the County will be able to significantly increase COVID-19 testing capacity with the large scale drive-through testing center’s opening.

“This is really helpful in our fight to get the Novel Coronavirus under control in Orange County,” said Orange County Board of Supervisors Chairwoman Michelle Steel, Second District. “Ramping up testing particularly among frontline workers and hard-hit communities is essential as we work to better understand the spread of the virus in our communities and work to make better policy that will protect the public while also allowing our residents to go to work, pay

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