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Category Archives: Women

Corona Comfort Buying: It is Real and It is Preventable

Corona Comfort Buying: It is Real and It is Preventable

In the midst of a global pandemic and all the hardships of social distancing, it is important to find comfort in the familiar. Hobbies and personal interests are good ways to channel pent up energies (because gyms are closed) and unrelenting anxieties (because this thing is crazy on so many levels). But there is one first-world habit that should be curtailed at this time: retail therapy.

Even as millions of people are unemployed and unsure of how they will pay their bills, online shopping for non-essential goods and services has risen significantly in the last eight weeks. People are buying things they believe will make sheltering at home easier; they are looking to alleviate the pain of all the unknowns. If pre-corona shopping featured panic buying of unnecessary amounts of toilet paper and canned goods, the real-time corona is being marked by impulse purchases and increased spending on luxury items (alcohol being at the top of the list).

This behavior is dangerous for those who already struggle with financial health; it threatens even those who know how to handle their money, but are struggling to find strength and control in these uncertain times. There are many things driving this behavior, chief among them is boredom. Nobody has anywhere to go or anyone to spend time with, so they are finding solace and excitement in the online retailers. Getting a package delivered during this outbreak is giving people the thrills they would have found elsewhere, in healthier activities, before the pandemic.

The most important thing any quarantined shopaholic should do is identify their triggers. If the new sweater purchase is being fueled by anxiety, or the new kitchen appliance is being considered because of boredom, it is time to take a break from the screen. Another critical step is finding alternative ways of getting the same satisfaction. Exercise, meditation, laughing with a friend, or even cooking a wholesome meal, can provide the same rush as spending money. Wish lists are also a good way of curating desired items without actually spending money. By putting the item on their list, consumers feel like they are one step closer to owning it, but giving themselves time to think about the actual purchase.

Budgeting is the most strategic way of fighting against corona overspending. Build a budget that allows for some splurging, but not excessive squandering of cash. Financial advisors recommend limiting online purchases to a specific dollar amount or number of items. The goal is to train the stuck-at-home, looking-for- comfort consumer to buy one thing OR the other, but not everything in their cart. Setting specific times for online shopping also reduces mindless browsing. Staying focused and realistic about immediate needs, versus wants and long-term nice to haves, ensure intentional shopping.

This is certainly a challenging time. Take steps to stay physically and fiscally safe to ensure your wellbeing now and in the future.

Startup Guide Includes New York

In 2014, the Danish Sissel Hansen publishing firm initiated the Startup Guide  series. As of late 2019, New York City has a guide and joins over 20 other major cities with similar publications. With an impressive 265 pages, the informative and entertaining read highlights founders, shared work spaces, investors, educational programs, and other startup players.… Continue Reading

Seventh Cohort of New York Fashion Tech Lab

New York Fashion Tech Lab (NYFTLab), the community-driven, collaborative platform for promoting fashion, beauty and retail-tech advancement, launched its 7th group of supported businesses. NYFTLab is a program of Springboard Enterprises, supported by top tier retail, brand, and tech partners such as LVMH, Macy’s, Kohl’s, Levi Strauss and Co., Estée Lauder Companies, PVH Corp, Perry Ellis International, Accenture, Microsoft, and Avery Dennison. This is the… Continue Reading

Maven Gets Money

Maven, the New York-based startup for women’s health and family planning, announced that it has raised $45 million from investors.  Forbes hailed this as one of the largest rounds of funding for a woman-run healthcare company. Among the investors are noted actresses Reese Witherspoon, Natalie Portman, and Mindy Kaling. 23andMe co-founder and CEO Anne Wojcicki has also… Continue Reading

LendIt Fintech Announces Year-Long Mentor Program for NYC-Area Women

LendIt Fintech and NYC Fintech Women launched its inaugural year-long Mentor Program for tri-state area women. The collaborative program is designed to assist, advance, and aid aspiring fintech women as they grow professionally. LendIt Fintech is committed to supporting and facilitating diversity in fintech while creating opportunities for the global community. Mentors, who must be in a senior… Continue Reading

Female Small Business Owners More Optimistic

2020 is looking promising for female small business owners. According to a newly released Bank of America Small Business Owner Report Survey for 2019, 84% of women small business owners expect year-over-year growth. The data also suggests that more women small business owners than men: Have plans for expansion (73% v 66%) Expect revenue to increase… Continue Reading

New York City’s Got Milk

New York City makeup brand, Milk Makeup is moving into its own location: 586 Broadway. Once sold only in Sephora shops, Urban Outfitters, Birchbox and online, now Milk Makeup’s 100% vegan, cruelty-free and paraben-free products will be available in the brand’s flagship store. Created by Milk Studios, Milk Makeup creates original, healthy products that redesign… Continue Reading

Using Tech to Breath Better

Residents in the tri-state area can take a deep- and clean(er)- breath in the coming year. OpenAQ is making sure of that! The open-source platform gathers air quality data from governments and international organizations in one site; it is all free and accessible to everyone. It is also cultivating a community of activists, scientists, and… Continue Reading

Fur Free for 2020

All four brands of SMCP, the Chinese-owned French fashion company, are now entirely fur-free. As more and more consumers look for fashion that is sustainable, kind, and responsible, fur, leather, and animal byproducts are falling out of favor. Claudie Pierlot is the last of the ready-to-wear brand to cease the use of fur in its… Continue Reading