Why you is likely to be renting not shopping for your subsequent sofa

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Before eventually moving to California, the grandson of a wealthy client of interior designer Phyllis Harbinger, who had just graduated from college, decided to rent furniture instead of her for an apartment he and his girlfriend found in the New York area to buy.

“They said, ‘We don’t know what we want to do. We don’t want to be married to anything and we want to be sustainable,'” said Harbinger, vice chairman of the department of interior design at Fashion Technological Institute. “This generation is really into that reuse and buyback mentality to save the planet for them and their kids.”

Office furniture rental has a long history, but the demand for home furniture rental is growing – particularly among younger consumers who prefer a more mobile lifestyle than was typical for older generations.

Online furniture startups like Feather and Fernish are offering customers the chance to rent furniture for as little as three months at a time, with the option to swap parts during or at the end of a contract period if they fancy something different.

Appealing to a young, mobile customer

Feather and Fernish “are responding to the needs of people who have lots of money but don’t have time to buy furniture, and maybe don’t want to commit to owning large, bulky furniture because they expect to move again – and that’s a younger demographic,” says Susan Inglis, executive director of the Sustainable Furniture Council.

The hire-to-own option offered by these startups also appeals to people who don’t have enough cash to buy now but want good pieces they can live with right away, she said.

Feather’s customers are typically in their 20s and 30s and live and work in cities. The service is well-suited for people who have recently moved or are about to move, live with roommates and move every six months to a year, wrote Ilyse Kaplan, the company’s president and chief operating officer, in an email.

It’s also more affordable for people moving to a new state, which can cost anywhere from $4,300 to $4,800, or even moving down the street in most cities, which costs an average of $1,250, Kaplan said. Feather customers “can set up a basic studio for as little as $105 a month or a basic 1 bedroom for $150 a month.”

Feather cited “significant growth” in new residential leases since the onset of Covid-19 and the onset of remote and hybrid work, greater financial uncertainty and the need for more flexible living arrangements. “As living conditions have changed in response to the pandemic, we’ve seen dining room items decline in exchange for more functional home office items,” Kaplan said.

Rent furniture to be more sustainable

Stationary furniture brands such as IKEA are also examining leasing models. For the Swedish retailer, experimenting with renting is part of a broader plan to move to a circular business model by 2030, with the aim of ultimately using only renewable or recycled raw materials and improving design principles to allow for less wear and tear on the products assembled and dismantled as well as the refurbishment and reuse of used goods or their components.

IKEA began testing a circular furniture subscription model in 2019, but its progress has been somewhat delayed by pandemic-related restrictions, wrote Kicki Murbeck, circular business designer on Ingka Group’s Circular Innovation Team, in an email. Ingka Group is the main franchisee of the IKEA brand, with retail stores in 32 markets, accounting for approximately 90% of IKEA’s total retail sales.

Building on previous tests in several European countries, in 2021 the company introduced a limited launch of a B2B edition called IKEA Rental in six markets: Finland, Sweden, Denmark, Norway, Spain and Poland. After testing multiple contract options, including contract lengths, and banking partners, IKEA is evaluating the results before deciding on next steps, Murbeck said.

Inglis sees interest in renting higher quality furniture as a backlash to the growing popularity in recent decades of “quick furniture,” which relies on cheaper materials to accommodate a more nomadic lifestyle and often ends up in landfill.

“People are fed up with throwing away trash and the furniture industry as a whole did itself a disservice years ago by really trying hard to create furniture that would throw away,” she said.

Currently serving ten major markets in the US, including New York, Washington, DC, San Francisco and Los Angeles, Feather allows customers to change furniture pieces even during a rental period if their space, needs or aesthetic preferences change , and offers one free swap to every retail customer and additional changes for a fee. Around 14% of customers currently use the swap option.

“We are actively working to keep furniture of all types out of landfills” by renovating and repurposing each item multiple times, Kaplan said, noting that furniture currently accounts for about 7% of all landfill waste.

While Feather’s furniture is constructed from durable materials and a system of parts to aid in this process, “our first step is to work with our like-minded partners at FloorFound to find the furniture when parts are no longer useful for the next customers will be deemed new homes. If we are unable to resell an item, we will donate it through our partnership with Habitat for Humanity,” Kaplan said.

Inglis said she expects the trend towards retailers offering refurbishment services to increase dramatically in the coming years.

Before furniture leasing gains popularity, customer perception issues must be resolved. IKEA has heard customers looking for longer-term leases raise concerns about how they care for products and what conditions apply if something breaks or isn’t treated well. This must be clear to both sides.

IKEA finds that the shift in thinking needed to fully understand a subscription model is easier for younger consumers than older ones. Generation X and older consumers tend to associate subscriptions with the rent-to-buy model, which has historically made them pay more than buying upfront, but also the full scope of repair, maintenance, and return services excludes that retailers are now offering.

IKEA franchisees also need to develop a digital product tracking system to move away from a linear sales model and distribute products from one customer to another and expand the subscription service.

IKEA already sells refurbished and reused products in certain markets and plans to expand this as a key part of its circular economy transition. Also, in November 2020, the company opened a second-hand pop-up store in a shopping center in Eskilstuna, Sweden, targeting retailers selling reused, organic or sustainably produced products. More than 30,000 IKEA products were given a second life in the pop-up store during the first year of the trial period, and in December 2021 IKEA extended the program for another year.

“The circular furniture subscription service we tested is not only about the products as such, although of course these are very important, but also about understanding what the customer needs and wants and being able to to meet these changing needs over time,” Murbeck said.

– By David Bogoslaw, specially for CNBC.com

Cramer says anticipate business consolidation earlier than shopping for on-line sports activities playing shares

CNBC’s Jim Cramer said Monday he believes investors should stay away from online sports betting, claiming it was unattractive for their own businesses like Draft kings because there is too much competition in the gaming industry.

“Until we see fewer promotions and more M&A deals, these online sports betting stocks are … very difficult to own,” he said “Bad money” said the host, noting that this view is in stark contrast to something of optimism around the burgeoning cohort in early 2021.

“But when we see what the reality looks like, there is a lot of competition for market share and little profit. What a shame, because profits are what this market wants right now. That’s why every single one of these stocks has been destroyed.” “Said Cramer, referring to people like Penn National Gaming, DraftKings and FanDuel parents Flutter entertainment.

Other players in this area are Caesars Entertainment, which operates an online sports betting company, and Rush Street Interactive.

Cramer’s comments on Monday are in response to a major milestone on Saturday when mobile sports betting was officially legalized in New York, the most populous US state where it did so. The first four bookmakers to meet regulatory requirements and start taking bets were DraftKings, Caesars Sportsbook, Rush Street Interactive, and FanDuel.

Another five operators are still in the process of meeting all legal requirements, Associated Press reported. Cramer said this is something that investors need to consider when examining the impact of New York’s high-profile start.

“These online gambling companies are throwing money at people to gain market share,” Cramer said, referring to the commercial and commercial blitz taking place in New York. “If the industry is already that competitive with four players, imagine the deals you get with nine players.”

Another factor to consider is New York’s “astronomical” 51% tax rate on revenues that online sports betting providers will be subject to, Cramer said.

“Before you can think about buying sports betting stocks, I think we need to see some consolidation. We have to see some companies leave, ”he said.

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People are shopping for Teslas, not EVs. Here is why that is about to vary

Americans don’t buy electric vehicles, they buy Teslas.

That has been a fairly accurate statement for US consumers over the past few years, with Tesla This accounts for the majority of electric vehicles sold, according to IHS Markit, including 79% in 2020. But that is starting to change as the so-called traditional Car manufacturers and start-ups are investing billions in a number of new electric vehicles to compete against Tesla.

The influx of electric vehicles – from a few dozen today to estimates of hundreds of new models by 2025 – is expected to detract from Tesla’s market share in the years to come. The new electric vehicles are planned as larger automakers, such as General Motors and Volkswagen, Transition to building almost entirely electric vehicles in the next decade or so.

The logo marks the showroom and service center of the US automobile and energy company Tesla in Amsterdam on October 23, 2019.

John Thys | AFP | Getty Images

“It’s no surprise that Tesla still dominates electric vehicle sales because they are the only ones with truly viable products in full swing,” said Michael Fiske, IHS Markit deputy director. “In a growth market, it is extremely difficult to maintain the majority market share, regardless of the industry. … As we move towards a larger and really significant number of manufacturers to play in this space, Tesla has to lose market share. “

Tesla’s market share of all-electric vehicles is expected to drop to 56% in 2021 as early as this year as new vehicles such as the Ford Mustang Mach-E and Volkswagen ID.4 are introduced, IHS Markit said.

Read more about electric vehicles

The research and forecasting firm expects Tesla’s US market share of all-electric vehicles to be 20% in 2025.

2021 vs. 2030

Tesla’s current dominance affects a relatively insignificant market. Despite the attention and hype surrounding electric vehicles, sales of all-electric and plug-in hybrid electric vehicles – which include both electric motors and an internal combustion engine – remain tiny. Electric vehicle sales, including plug-in hybrids, are expected to account for less than 4% of US sales this year, according to industry forecasts. According to LMC, fully electric models – such as Teslas – only account for 2.6% of the market or around 394,000 vehicles.

“Going on, it doesn’t take long to get into pretty big volume and share the growth,” said Jeff Schuster, LMC president for America. “This is a massive linchpin for the auto industry.”

LMC expects electric vehicles to account for 34.2% of new car sales in the U.S. by 2030, with all-electric 30.1% and plug-in hybrids accounting for 4.1%. Some of AutoForecast Solutions’ most pessimistic estimates predict that electric vehicles will account for about 23% of the market by 2030, with all-electric cars and trucks accounting for 18.6% of US sales. IHS Markit predicts that electric vehicles will make up about 40% of the US industry by 2030.

Biden’s goal “very optimistic”

While analysts and forecasters differ on how many electric vehicles will be sold this decade, they agree that the rollout will be quick, but likely not President Joe Biden’s order for half of the new vehicles sold be electric vehicles in the country.

“It is very optimistic to reach 50% by then,” said Tony Salerno, managing director for automotive analytics and advisory at JD Power, citing challenges such as consumer education, charging infrastructure and support from the US power grid. “I think it will get there at some point from a utility standpoint, but it’s early days and there are many pieces of the puzzle that we need to figure out to get there.”

When Biden announced the deal earlier this year, dubbed more of a “friendly target,” automakers weren’t fully on board. Many, including the Detroit automakers, said they aim to “achieve 40-50 percent of the annual US volume of electric vehicles” by 2030.

“It’s not going to happen. Mainly because it’s an unexplored market. Nobody really knows how much there is,” said Sam Fiorani, vice president of global forecasting for AutoForecast Solutions. “Nobody really knows how deep the market is right now. If you take Tesla out of the picture, the market is less than 1% of all electric vehicles.”

Fascinated by shopping for inventory in Aprea Therapeutics, RA Medical Techniques, AMC Leisure, Torchlight Vitality Assets, or Appharvest?

NEW YORK, June 16, 2021 / PRNewswire / – InvestorsObserver issues critical PriceWatch Alerts for APRE, RMED, AMC, TRCH, and APPH.

To see how InvestorsObserver’s proprietary rating system rates these stocks, check out InvestorsObserver’s PriceWatch Alert by selecting the appropriate link.

(Note: you may need to copy this link into your browser and then the [ENTER] Key.)

InvestorsObserver’s PriceWatch Alerts are based on our proprietary valuation method. Each stock is valued on the basis of short term technical, long term technical and fundamental factors. Each of these ratings are then combined into an overall rating that determines the overall suitability of a stock for an investment.

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Enthusiastic about shopping for inventory in Meten Edtechx Schooling, AMC Leisure, NGM Biopharmaceuticals, FS KKR Capital, or Strongbridge Biopharma?

NEW YORK, May 24, 2021 / PRNewswire / – InvestorsObserver issues critical PriceWatch alerts for METX, AMC, NGM, FSKR, and SBBP.

To see how InvestorsObserver’s proprietary rating system rates these stocks, check out the InvestorsObserver’s PriceWatch alert by selecting the appropriate link.

(Note: you may need to copy this link into your browser and then press the button [ENTER] Key.)

InvestorsObserver’s PriceWatch alerts are based on our proprietary valuation method. Each stock is valued based on short term technical, long term technical and fundamental factors. Each of these ratings are then combined into an overall rating that determines a stock’s general suitability for investment.

SOURCE InvestorsObserver

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Interested by shopping for inventory in AMC Leisure, Biolase, Vivint Sensible Residence, Marathon Digital, or Riot Blockchain?

NEW YORK, May 14, 2021 / PRNewswire / – InvestorsObserver issues critical PriceWatch alerts for AMC, BIOL, VVNT, MARA, and RIOT.

To see how InvestorsObserver’s proprietary rating system rates these stocks, check out the InvestorsObserver’s PriceWatch alert by selecting the appropriate link.

(Note: you may need to copy this link into your browser and then press the button [ENTER] Key.)

InvestorsObserver’s PriceWatch alerts are based on our proprietary valuation method. Each stock is valued based on short term technical, long term technical and fundamental factors. Each of these ratings are then combined into an overall rating that determines a stock’s general suitability for investment.

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Fascinated about shopping for inventory in AMC Leisure, Vertex Vitality, Sonos, Multiplan Corp, or Aemetis?

NEW YORK, May 13, 2021 / PRNewswire / – InvestorsObserver issues critical PriceWatch alerts for AMC, VTNR, SONO, MPLN, and AMTX.

To see how InvestorsObserver’s proprietary rating system rates these stocks, check out the InvestorsObserver’s PriceWatch alert by selecting the appropriate link.

(Note: you may need to copy this link into your browser and then press the button [ENTER] Key.)

InvestorsObserver’s PriceWatch alerts are based on our proprietary valuation method. Each stock is valued based on short term technical, long term technical and fundamental factors. Each of these ratings are then combined into an overall rating that determines a stock’s general suitability for investment.

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How to economize when shopping for a brand new automobile, 7 On Your Facet shares high ideas

NEW YORK (WABC) – With car purchases coming back to life and up 110% from last April, 7 On Your Side offers some simple steps you can take to save money before you leave the dealership.

Almost 9 out of 10 new car buyers finance (85%). More than half of used car buyers borrow (54%). And the average car loan is at an all-time high of more than $ 32,000.

But there is good news – you can cut the price of the car by hundreds or even thousands of dollars.

Step One – Know Your Credit Score. You can print it out or credit card companies have it right on your mobile app.

If your score is good and above 670, you should have solid funding options. But if it’s very good or higher, by mid-700, then you can really lower your interest rate, or APR.

CONNECTION | 7 On Your Side gives you the best tips on how to get the most out of your tax refund check

Know what you can afford. This means that you need to calculate and estimate your loan amount – online calculators can help. Appreciate auto insurance, even maintenance, and gasoline.

Next shopping. Don’t just go through the dealer’s finance department. There is no guarantee that you will get the best deal possible.

Get pre-approved for a loan before buying by contacting lenders directly or even your credit union.
And after you get pre-approved, negotiate. You can even face one lender against another, but remember, the higher your credit rating, the more bargaining power you have.

Some more great takeaways and other ways to lower your loan payments – make a larger down payment. The less you borrow, the less interest you pay.

Reduce the selling price. That means choosing a cheaper car with fewer options and negotiating a better deal.

Or get a co-signer who has a better credit rating than you. This will give you more bargaining power to lower the interest rate.

ALSO READ | Exclusive: Mother of a toddler who has now been hit by a suitcase for fear of increasing violence in NYC

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Do you have a problem with a company that you couldn’t solve? If so, 7 On Your Side would like to help you!

Email 7OnYourSideNina@abc.com or contact Nina at her facebook page or tweet them on Twitter @ 7OnYourSideNY! You can also call the 7 On Your Side Hotline at 917-260-7697 or fill out the form below.

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Serious about shopping for inventory in Corridor of Fame Resort & Leisure, Marker Therapeutics, LendingClub, Smith & Nephew, or Clover Well being Investments?

NEW YORK, April 29, 2021 / PRNewswire / – InvestorsObserver issues critical PriceWatch alerts for HOFV, MRKR, LC, SNN, and CLOV.

To see how InvestorsObserver’s proprietary rating system rates these stocks, check out InvestorsObserver’s PriceWatch alert by selecting the appropriate link.

(Note: you may need to copy this link into your browser and then press the button [ENTER] Key.)

InvestorsObserver’s PriceWatch alerts are based on our proprietary valuation method. Each stock is valued based on short term technical, long term technical and fundamental factors. Each of these ratings are then combined into an overall rating that determines a stock’s general suitability for investment.

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The inventory market is creating shopping for alternatives

CNBC’s Jim Cramer said Friday that investors should be ready to find buying opportunities on the stock market while the earnings season is in full swing.

When companies report quarterly results, market participants digest the numbers quickly and Wall Street is prone to make a lot of mistakes Honeywell and American Express as an an example.

“There will be reports of negativity next week and not all of them will be really bad. So I urge you to take advantage of this weakness.”Bad money“Host said.

Given that well-known brand names like Boeing, Microsoft, Starbucks, and Amazon are set to report, this will be the most brutal part of the earnings season, he added.

“As we get closer to the next five days of earnings, you need to think about what is being hit as badly as what is working, as this market creates some incredible buying opportunities,” said Cramer.

Cramer announced his schedule for the coming week. The earnings per share forecasts are based on FactSet estimates:

Monday: Tesla

Tesla

  • Publication of results Q1 2021: after the start of the market; Conference call: 5:30 p.m.
  • Projected EPS: 75 cents
  • Estimated Revenue: $ 10.48 billion

“These numbers don’t just affect Tesla itself. There are dozen of electric vehicle SPACs, smaller inventories that Tesla need to be successful as it gives legitimacy to the whole group,” Cramer said. “I like Tesla at these levels. I bet the quarter will be good.”

Tuesday: Alphabet, Microsoft, Starbucks and Advanced Micro

alphabet

  • Earnings publication for the first quarter of 2021: after market entry; Conference call: 5 p.m.
  • Projected earnings per share: $ 15.70
  • Estimated Revenue: $ 51.38 billion

“We have to focus on Google Cloud. I think it steals the show. I like it a lot,” said Cramer.

Microsoft

  • Q3 2021 Results publication: After Market; Conference call: 5:30 p.m.
  • Projected earnings per share: $ 1.78
  • Estimated Revenue: $ 41.04 billion

“Microsoft’s stock has risen so much that it has to report a monster neighborhood with huge Azure numbers. The funny thing is, I think they probably will. I say stick with it,” he said.

Starbucks

  • Q2 2021 Results publication: After Market; Conference call: 5 p.m.
  • Projected EPS: 53 cents
  • Estimated Revenue: $ 6.78 billion

“The Chinese business should be very strong, but the US is still moving to a new world where it is the only game in town,” the hosts said. “Starbucks had a monster run last year in anticipation of the grand reopening and that call, well it might be too early. I’m looking for a retreat.”

modern micro devices

  • Earnings publication for the first quarter of 2021: after market entry; Conference call: 5 p.m.
  • Projected EPS: 44 cents
  • Estimated Revenue: $ 3.18 billion

“I bet Lisa Su, the relentless CEO, will tell a great story. And unlike so many other semiconductor names, her stock actually fell 10% over the year, which means she might be ready to rock,” he said.

Wednesday: Boeing, Apple, Ford Motor and Facebook

Boeing

  • Earnings release for the first quarter of 2021: ahead of the market; Conference call: 10:30 a.m.
  • Estimated losses per share: 96 cents
  • Estimated Revenue: $ 15.41 billion

“If you are like me and you think we could be heading for an unprecedented economic boom, including the largest travel attack in this nation’s history, you want to own the company that will benefit the most, and that is Boeing.” Said Cramer.

Apple

  • Earnings release for the 2nd quarter 2021: 4:30 p.m. Conference call: 5 p.m.
  • Projected EPS: 98 cents
  • Estimated Revenue: $ 76.71 billion

“Apple’s stock was lagging behind until recently. It caught fire as we chatted about better cell phone sales and a major potential intrusion into the company,” he said.

Ford engine

  • Earnings release for the first quarter of 2021: 4:05 p.m. Conference call: 5 p.m.
  • Projected EPS: 21 cents
  • Estimated Revenue: $ 36.13 billion

“Despite the lack of chips, I am expecting excellent numbers,” said the hosts. “Ford is worth buying.”

Facebook

  • Earnings publication for the first quarter of 2021: after market entry; Conference call: 5 p.m.
  • Projected earnings per share: $ 2.34
  • Estimated Revenue: $ 23.72 billion

“Judging from what we’ve heard about Grab it last night … I think you have to believe Facebook is going to throw it out of the park, “he said.” Once again, it’s not too late to be a buyer from Facebook as I think it goes to everyone … time highs. “

Thursday: Amazon, Skyworks

Amazon

  • Earnings publication for the first quarter of 2021: after market entry; Conference call: 5:30 p.m.
  • Projected earnings per share: $ 9.49
  • Estimated Revenue: $ 104.49 billion

“The stock has been kicking water for months precisely because people are concerned about the year-on-year comparisons,” Cramer said. “I think the company has gained new followers … I think the stock still works.”

Skyworks

  • Q2 2021 Results publication: After Market; Conference call: 4:30 p.m.
  • Projected earnings per share: $ 2.35
  • Estimated Revenue: $ 1.15 billion

“I predict a real blowout,” he said.

Friday: Exxon Mobil, Chevron, Clorox, Colgate

Exxon Mobil

  • Earnings release for the first quarter of 2021: 6:30 a.m. Conference call: 9:30 a.m.
  • Projected EPS: 60 cents
  • Estimated Revenue: $ 56.38 billion

Chevron

  • Earnings release for the first quarter of 2021: ahead of the market; Conference call: 11 a.m.
  • Projected EPS: 89 cents
  • Estimated Revenue: $ 32.54 billion

“When I listen to the oil people, I get the kind of positive vibes I haven’t heard in years. With prices rising and costs falling, I think these two companies might surprise upside,” Cramer said.

Clorox

  • Q3 2021 Results to be published: before the market; Conference call: 1:30 p.m.
  • Projected earnings per share: $ 1.47
  • Estimated Revenue: $ 1.86 billion

Colgate

  • Earnings release for the first quarter of 2021: ahead of the market; Conference call: 8:30 a.m.
  • Projected EPS: 79 cents
  • Estimated Revenue: $ 4.27 billion

“Wall Street is prudent about both,” he said. “I can’t say your stocks will do well when they report … at best they are battlefield stocks and there is no reason to approach a battlefield not in this market.”

Disclosure: Cramer’s charitable foundation owns shares in Amazon, Ford, Boeing, Facebook, Alphabet, Honeywell, Microsoft, and Starbucks.

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