New York SBDC Research Network

From eMarketer Retailers still trying to unlock the question of millennial spending patterns, take note: Millennials are sagging under a heavier debt load than Gen Xers faced at this point in their economic lives. It's the makeup of that debt gap that hints that millennial spending might not be unlocking anytime soon. Gen X had more mortgage debt than millennials, while millennials have more education debt than Gen X. A research paper published by the Federal Reserve Bank of St. Louis compared the overall finances of millennials in 2016 to Gen Xers in 2001. It found that millennial households in 2016 had an average net worth of about $90,000 vs. $130,000 for Generation X households in 2001. Millennials, it noted, had fewer assets and more debt. The combination of education debt and a lower level of investment in real estate could hold back spending on a host of items, from furniture to hardware to garden supplies.

From FTC.gov Yesterday, the Federal Trade Commission, jointly with the offices of eight state Attorneys General, the New York Division of the U.S. Postal Inspection Service, two U.S. Attorneys’ Offices and the Better Business Bureau (BBB), announced the results of Operation Main Street: Stopping Small Business Scams, a law enforcement initiative targeting operations seeking to defraud small businesses, and an education outreach effort to help small businesses protect themselves from fraud. Operation Main Street - Stopping Small Business Scams (24 Law enforcement actions nationwide; 12 Partners in law enforcement, including the FTC, brought these federal and state actions; 6+ Types of scams - including unordered merchandise, business directories, fake invoices, and imposters - collected more than $290 million from businesses in these cases) - Go to ftc.gov/smallbusiness.The agencies are announcing a total of 24 actions involving defendants who allegedly perpetrated scams against sm

From eMarketer.Retail According to a March 2018 survey of US B2C retail executives by 451 Research, commissioned by Adyen, 78% of respondents said they're considering cashless stores that only accept credit cards and other digital payment options. In contrast, 36% of operations managers, essentially those that are more involved with the customer journey day to day, were in agreement. And their differing views don't stop there. Retail executives were more likely (81%) to say they saw an increase in customers using their mobile devices while shopping in-store—either for coupons, payments or product information—than operations managers (53%). In theory, cashless stores may reduce friction at checkout, which is often caused by long lines

From eMarketer : Technology may be changing the customer experience, but many consumers still want a human interaction, even as tech continues to improve. That's what PwC found when it surveyed 4,000 US internet users ages 13 and older, as well as 11,000 internet users ages 18 and older in countries including Argentina, Brazil, Germany, Mexico and the UK. More than eight in 10 US respondents said that even as technology improves, they will want to interact with a real person. And that sentiment was nearly the same across the other countries polled—although people in China, Brazil and Japan were less likely to agree.

From Thomasnet According to Bicycling.com, the modern carbon-fiber bike is “a technological marvel” based on its superior strength over traditional metal bikes, at a fraction of the weight. So why isn’t everyone hopping on one of these top-notch bikes to pedal around town? Two reasons – the cost is insane and, say the experts at Bicycling.com, carbon-fiber can be a manufacturing nightmare. Typical problems mostly relate to quality control, in a production environment that requires lots of labor and precision, which is why the Silicon Valley startup Arevo intends to upend the process with 3D printing. The company has a prototype of the first 3D printed carbon-fiber bike, and Arevo hopes to propel the business into manufacturing ASAP. The intention is to partner with existing bike manufacturers and automate the production aspect using a robotic arm.

From FactFinder : NYC Department of City Planning’s Population Division is proud to announce the release of New York City Population FactFinder (NYC PFF), a major update of NYC Census FactFinder (CFF). The application has been developed at City Planning by its extraordinary Labs Team, and they are excited to finally share it with you! The latest iteration includes a host of improvements that the user base has requested, including: Intuitive design that allows you to easily define study areas Enhanced interactive map and expanded geographic options for creating custom study areas by combining census blocks, tracts, neighborhoods (NTAs), or Community Districts (PUMAs) Expanded profile content, including population density; and detailed languages, countries of birth, and disability status Indicators of reliability and statistical significance for all estimates, so you can be confident using the data Change over time and detailed comparisons of two areas Ability to save and share un

From FTC.gov The Federal Trade Commission has charged three individuals and nine businesses with bilking more than $125 million from thousands of consumers with a fraudulent business education program called MOBE (“My Online Business Education”). A federal court halted the scheme and froze the defendants’ assets at the FTC’s request. According to the FTC, the defendants behind this international operation target U.S. consumers—including service members, veterans, and older adults—through online ads, social media, direct mailers, and live events held throughout the country. This action follows the agency’s recent action against Digital Altitude, LLC, a competing business opportunity scheme that was also halted by court order. The FTC alleges that the defendants falsely claim that their business education program will enable people to start their own online businesses and earn substantial income. They claim to have a “proven” 21-step system for making substantial sums of money quick