Welcome to Issue #5 of Shiftonomics!
With 10 days left to Christmas, big news continues to shape the world of work.
In this issue of Shiftonomics, we look at a variety of topics that are actively defining work, including manufacturing and retail. Some of the topics we highlight include:
🎯 Target acquires Shipt to up their same-day delivery game
🛍 Westfield accepts a $15 billion takeover
😱 CNN spells doom for American malls
💡 How a Maine school prepares kids for the new economy
🤖 What do careers look like in a "world without work"
👊 LinkedIn shares their top voices in the retail space
News ⚡️ (3)
🎯 Target Gets Serious About Same-Day Delivery 🚚
The race to deliver consumer goods at speeds measured in hours has taken another turn. Today, Target announced a $550 million deal to buy Shipt Inc. It represents one of the largest acquisitions in the Minneapolis-based retailer and one of the most aggressive responses to Amazon. Target announced they'll use Shipt's technology and their large swath of shoppers to bring same-day delivery to more than half of their 1,800 stores by this summer.
Westfield 🛍 Accepts $15 💰 Billion Takeover
Australian mall conglomerate Westfield Group, which owns 35 high-end shopping centers in the U.S. and U.K., on Tuesday, agreed to a $15.7 billion ($24.7 billion including debt) acquisition by European rival Unibail-Rodamco, according to a company press release.
CNN Predicts Doom for American Malls
In much of the conversation around the future of retail, questions remain for the health and relevance of American malls. Will they survive? CNN published a report citing a gloomy future for the malls, stemming from changes that have been impacting American mall's anchor tenants -- the large occupancy tenants that flank the edges of malls including the likes of Macy's, Sears, and JC Penny. "When anchor stores close, it causes big problems for mall owners and other retailers in the mall," says Howard Davidowitz, chairman of New York-based retail consulting and investment banking firm Davidowitz & Associates. "And I'd say this problem is only in its second inning." There's a lot yet to be determined for American malls, but CNN's gloomy prediction headlined a busy week for the retail and mall scene.
The Big Idea 🤔 (1)
Preparing Kids For The New Economy
As education seems due for a shake-up, or worse, a reckoning, one Maine town is attempting with their young kids. Long known for fishing, residents started the Harpswell Coastal Academy when they recognized that the economic drivers of that industry were changing fast. Today, the curriculum is focused on work-based learning, putting kids into the community and exposing them to many different jobs around the state. The gamble paid off: A few weeks ago in November, the state approved their charter license for another five years.
[Via: NPR Marketplace]
Heard Around The Web 💬 (2)
LinkedIn Top Retail Voices 📢 There's no doubt that the last year was a busy one in the world of retail. From Amazon's continual rise to dominance to the fear of brick-and-mortar closures, analysts, reporters, and investors from around the retail industry had a lot to write about. LinkedIn tapped their platforms' signaling system and announced their third annual 'Top Voices in Retail' List.
- Zoe Leavitt | Senior Retail & CPG Analyst,CB Insights
- Brent Franson | CEO, Euclid Analytics
- Jon Nordmark | Co-Founder & CEO, Iterate.ai
- Susanna Koelblin | Business Development Manager Textiles, Eastman Chemical Company
- Deborah Weinswig | Managing Director, Fung Global Retail & Technology
- David J. Katz | Chief Marketing Officer & EVP, Randa Accessories
- Kieron Johnson | Content Consultant, Regal Content
- Gad Allon | Professor, The Wharton School
- Michelle Grant | Head of Retailing, Euromonitor International
- Matthew Shay | President & CEO, National Retail Federation
Retrain or Retreat
For U.S. manufacturing, it’s retrain or retreat: Lifelong learning will determine the survivability of many jobs and companies in the new digital era.
📚 Books We're Reading (2)
Understanding the DNA of 'The Big Four'
Today, the brightest business minds don't have to go to B-School. Instead, they can learn just as much by studying the history, mission, motive, and unraveling the DNA of our four biggest companies: Amazon, Apple, Facebook, and Google. That's what Scott Galloway, NYU Business Professor and author of "The Four" believes. A fast-paced look at a the lightning-paced trajectory these companies have seen in the past decade is one we really recommend reading before the end of the year.
[Podcast Interview, via: Bloomberg]
Win A Copy of "The Four"
This book has been a hit around our office, and now it can be yours. Simply Tweet your favorite news item from this issue with a link to our newsletter (use: https://www.shiftonomics.com/) and we will randomly select one winner to receive the book. We'll pick a winner and announce them in the next newsletter on Dec. 28. You can enter until 5pm CST on Dec. 27. Good luck!
Until next time, Shift on!