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Aaliyah Arnold, the 21-year-old founder of BossUp Cosmetics, goes live on TikTok a few times a week. Each livestream will last anywhere from 4 to 12 hours. Thousands tune in to watch her pack mystery boxes for customers, give away products, and teach makeup tutorials. I mix in music, jokes, giveaways, and real product demos so people feel like theyre hanging out with me while shopping, Arnold tells Fast Company. Livestreaming now makes up 60% of her companys total sales. Her biggest livestream to date hit $170,000 in sales, with more than 1 million viewers tuning in. Arnold is one of many solopreneurs on platforms like TikTok leaning into live selling to get ahead in the ecommerce industry. Dubbed Gen Zs answer to QVC, live selling has been big in China for almost a decade, but somewhat flown under the radar in the U.S. That is, until recently. The number of online shoppers who purchased during a livestream, across different platforms, jumped 29% to 41 million in 2024, according to eMarketer. From household name brands like Crocs to small businesses like BossUp Cosmetics, more brands are getting in on the action. For smaller businesses and solopreneurs, live selling levels the playing field and allows them to compete against bigger brands in todays attention economy. Take a scroll on platforms like TikTok and livestream shopping app Whatnot and you can shop for just about anything, from makeup tools to sweets to collectibles. Energetic hosts pitch their wares, hooking consumers with limited-time deals and chaotic entertainment that triggers sales. I started livestreaming in 2022 because I wanted a real way to connect with my audience, Arnold says. I wanted people to see the girl behind the brand, the story, and the products in action. She adds, It started as a fun way to build community, and it quickly became one of the most important parts of my business. Whatnot is another platform popular with solopreneurs. The platform hosts more than 175,000 hours of livestreams every week, according to its 2024 State of Livestream Selling Report, which calls that figure 800x more than QVCs weekly broadcast hours. Here, independent sellers conduct live auctions or flash sales as shoppers bid on items and interact in the chat. One in five solopreneurs say live shopping has at least doubled their annual revenue, according to statistics shared with Fast Company. Vinyl records seller Amy Eskeberg, 35, who sells under the handle eskeeknowsvinyl, has been livestreaming on Whatnot at least twice a week since 2023. In a typical livestream, which lasts an hour and a half, Eskeberg will make around 75 sales. Which might not sound like a lot, Eskeberg tells Fast Company. But is a lot when considering how many records a physical store might sell in that time span. What was supposed to be a side hustle quickly turned into her full-time gig. Although it was foreign at first to be on camera, I recognized the major benefits livestream selling offered versus other methods, Eskeberg says. Mainly, the ability to sell at a much faster pace, versus waiting around for sales with the quick auction feature. She also likes the social aspect of livestreaming that creates community with viewers. For solopreneurs, that is the unique selling proposition. By going live, founders can communicate directly with their customers, responding to their questions in real time, all without having to invest thousands in a brick-and-mortar store or pop-up. Instead of relying on organic foot traffic for exposure, TikTok has a built-in audience of 170 million American users ready to stumble across your small business. Whatnots monthly active users also increased 180% year over year in 2024. Consumer trend forecaster WGSN has found that conversion rates for live shopping are 10 times higher than those for traditional e-commerce. Eskeberg says she generated around $500,000 from livestreaming on Whatnot in 2024, accounting for almost all her record businesss overall sales. She currently does not sell anywhere else. Just as many solopreneurs lean heavily on personal branding and a strong social media presence to attract new customers, the same principle applies when going live. Ninety-nine percent of the time, I livestream from the same spot on my vintage floral 1970s couch that could have belonged to your grandma that has become a centerpiece of my image, Eskeberg says. I also try to include several giveaways every show to keep casual viewers, she adds, noting that she hopes they like the vibe and decide to bid on a record or come back to a future show where a record they want might be listed. Social shopping is set to change the way we buy things forever. Nearly half (47%) of U.S. consumers have made a purchase through social media, while 6 in 10 (58%) are interested in doing so, according to data from market research firm Mintel. A further 46% have made a purchase through a livestream event and would do so again. Going live, a solopreneur has the chance to meet those shoppers and sell to them . . . from the palm of their hand.
Category:
E-Commerce
After 43 days, the U.S. government shutdown finally came to an end late on November 12, when Congress voted through a long-overdue funding bill, which President Donald Trump promptly signed. But the prolonged gap in government-as-usual has come at a cost to the economy. The Conversation spoke with RIT economist Amitrajeet A. Batabyal on the short- and long-term impact that the shutdown may have had on consumers, on the gross domestic product, and on international trust in U.S. stewardship of the global economy. What is the short-term economic impact of the shutdown? Having some 700,000 government workers furloughed has hit consumer spending. And a subset of those workers believed they may not have a job to come back to amid efforts by the Trump administration to lay them off permanently. In fact, the University of Michigans monthly index on consumer sentiment tumbled to a near record low in Novembera level not seen since the depth of the pandemic. Because lower consumer sentiment is related to reduced spending, that has a short-term impact on retailers, too. And because parks and monuments have been closed throughout the shutdown, tourism activity has been downa decline no doubt worsened by the reduction in flights enforced due to shortages in air traffic controllers. The effect was particularly pronounced in places like Washington, D.C.one of the most popular destination for touristsand Hawaii. This short-term effect will likely extend to secondary businesses, such as hotels. Indeed, prior to the shutdown, the U.S. Travel Association warned that such an event would cost the total travel industry around $1 billion a week. And the longer-term impact? Estimates range, but the nonpartisan Congressional Budget Office has said that the cost to Americas gross domestic product in lost productivity is in the range of $7 billion to $14 billionand that is a cost from a self-imposed wound that will never be recovered. And from an international macroeconomic point of view, trust in the U.S. has been hit. Even before the shutdown, political dysfunction in Washington contributed to a downgrade in the U.S. credit ratingsomething that could result in higher borrowing costs. The shutdown further erodes the U.S.s standing as the global leader of the free market and rules-based international order. Accompanied by the economic rise of China, this shutdown further erodes international investors impression of the U.S. as an arbiter and purveyor of the established trade and finance systemand that can only hurt Washingtons global economic standing. Has the economic pain been felt evenly? Certainly not. Large numbers of Americans have been hit, but the shutdown affected regions and demographics differently. Those on the lower end of the income distribution have been hit harder. This is in large part due to the impact the shutdown has had on the Supplemental Nutrition Assistance Program (SNAP), also known as food stamps. Some 92% of SNAP benefits go to American households below the federal poverty line. More than 42 million Americans rely on SNAP payments. And they were caught up in the political maelstrom, left not knowing if their SNAP payments will come, if they will be fully funded, and when they will appear. There is also research that shows Black Americans are affected more by shutdowns than other racial groups. This is because traditionally, Black workers have made up a higher percentage of the federal workforce than they do the private sector workforce. Geographically, too, the impact of this shutdown has been patchy. California; Washington, D.C.; and Virginia have the highest proportion of federal employees, so that means a larger chunk of the workers in those regions were furloughed. Hawaii has also ben disproportionately hit due to the large number of military there. One analysis found that with 5.6% of people in the state federally employed, and a further 12% in nonprofit jobs supported by federal funding, Hawaii was the second-hardest-hit state during the shutdown. How easy is it for the U.S. to recover from a shutdown? Because shutdowns are always temporary, recovery depends on how long it has gone on. Traditionally, the long-term economic trend is not badly affected by the short-term pain of shutdowns. But it may be slightly different this time around. This shutdown went on longer than any other shutdown in U.S. history. Also, the nature of this shutdown raises some concerns. This was the first shutdown in which a president said that back pay was not a sure thing for all furloughed federal employees. And the uncertainty over those threatened with layoffs again broke from past precedent. Both matters seemed to have been settled with the deal ending the shutdown, but even so, the ongoing uncertainty may have affected the spending patterns of many. And we also do not know what the economic impact of the reduction of domestic flights will be. Have other economic factors exacerbated the shutdown effect? While the shutdowns in Trumps first administration did take place while tariffs were being used as a foreign policy and economic tool, this year is different. Trumps tariff war this time around is across the board, hitting both adversaries and allies. As a result, the U.S. economy has been more tentative, resulting in greater uncertainty on inflation. Related to that are the rising grocery prices that have contributed to an upward tick in inflation. This all makes the job of the Federal Reserve harder when it is trying to fine-tune monetary policy to meet its dual mandates of full employment and price stability. Add to that the lack of government data for more than a month, and it means the Fed is grasping in the dark a little when it comes to charting the U.S. economy. Amitrajeet A. Batabyal is a distinguished professor, Arthur J. Gosnell Professor of economics, and head of the Department of Sustainability at the Rochester Institute of Technology. This article is republished from The Conversation under a Creative Commons license. Read the original article.
Category:
E-Commerce
To many watching from the sidelines, it can feel as if the global trade landscape is completely upending on a daily basis with no sign of slowing. To shine some much-needed light on the discussion, Flexport CEO Ryan Petersen assesses the biggest myths around trade and tariffs today, shares advice about avoiding jail, and gives insight into Chinas ability to weather volatility. This is an abridged transcript of an interview from Rapid Response, hosted by former Fast Company editor-in-chief Robert Safian and recorded live at the 2025 Masters of Scale Summit in San Francisco. From the team behind the Masters of Scale podcast, Rapid Response features candid conversations with todays top business leaders navigating real-time challenges. Subscribe to Rapid Response wherever you get your podcasts to ensure you never miss an episode. Myth No. 1 is, Don’t act on tariff announcements too quickly. Policy could shift again. I remember you telling me about Customs and Border Protection finding out about changes on Truth Social. Things just keep changing. We have a Supreme Court case that’s coming down the pipeline and it may, actually all the tariffs might just get refunded. And we’ll find that out in the next couple of months. And then, by the way, for sure the administration will claim that as a victory because the stock market’s going to go way up. But when you’re talking to clients, are they like, Yeah, we gotta do things. We don’t have to do things? Sometimes the best thing is to do nothing. You might say that’s actually an action. It could be a radical action to just say, Hey, we’re going to stay calm. Some changes in a supply chain take many years to play out, if you’re going to move your production to a new country. We’ve seen this where people said, “Oh, okay, China doesn’t work. We’re going to set up production in India.” And it turns out the tariffs on India are just as high as on China right now. So it is very difficult to make long-term decisions in a policy environment that changes so quickly. Are they looking over their shoulder at each other and saying, What’s that one doing? Should I be doing that? What can I do differently? Yeah, there’s a lot of that. It’s been very interesting. So we’re a customs broker to help companies figure out what duties they owe and pay them. And it’s a really complex world as you can imagine. There’s every variety of product out there. I’m used to being the expert when I talk to my customers. But now, the CEOsthey have to know their product at a level that I don’t. I don’t know every single product and every rule. And then I’m just like, I smile and nod, like, Yeah, yeah. It’s been really tough for us to be at that forefront trying to monitor what’s happening and interpret it for our customers and . . . give them advice: What decision should you make? Let’s move to myth No. 2: The government has a plan. Don’t worry, they know what they’re doing. Everything’s going to turn out great. It’s difficult to say. I think there’s maybe a plan. I don’t know if it’s a good plan. The reality is there’s actually some pretty good reasons for us to be concerned about the lack of industrial production in the United States. And one of the problems in life though is you get a bunch of people in a room and you say, Hey, we got this problem, we gotta do something, they’re going to do something. And it doesn’t always mean they’re going to do the right thing. Like, yes, tariffs may be an effective way to stimulate manufacturing. [But] the way they’ve been done so far, actually, I’ve met more companies that are shifting production offshore as a result of the tariffs because you have to pay duties on the components that are coming in and on the machinery that you use. These sorts of unintended consequences. Second-order impacts, maybe? Typical. Economies aren’t meant to be centrally planned. All right, let’s move to No. 3: China’s in a better position to adapt to trade volatility than the U.S. And I have to say that I’ve heard this exactly the opposite way too. I almost wrote this the other way, that the U.S. is in a better position to adapt to trade volatility than China is. Which is very illustrative that you could have written it both ways and it does illustrate trade is a positive-sum scenario. Both parties do trade because they’re both made better off by doing it. And this idea that you can win a trade war is sort of inherently wrong. You win a trade war by just not having one and doing trade in both parties. That said, the United States does depend on global trade less than China does. We’re self-sufficient in food and energy and they’re not. And that’s a big deal. They import, I think 80% of their energy. They import a lot of food from around the world. So if you’re talking about subsistence level, who’s going to survive in a terrible situation? We do depend less on trade. But that said, I think both parties, definitely both parties are going to lose. You have a lot of communications, you say, with CEOs here. Is there communication or information that you’re getting from contacts in China about how the trade war is impacting things there that maybe we’re not seeing as much? The thing that we’re seeingand it’s not just China; you see this on a global basisis when you jack up duty rates the way we have, you just create this huge incentive for fraud. For fraud? Yeah, for cheating. And it’s quite simple what’s happening. And it’s happening en masse. We’re spending a lot of time in D.C. trying to help them understand how this happens. The United States is the only country in the world, the only major country in the world, that allows foreign companies to import goods into the country without any kind of legal entity, physical presence, employees, bank account, nothing. You just, as a foreign company, fill out this form and you just get approved and you can start importing from overseas. Well then you just . . . mis-declare, you say the products are worth $10,000 when they’re worth $100,000. You just reduce your duty rate by 90%. And it’s very difficult for customers. We don’t have enforcement agents in other countries for trade compliance. We do for terrorism, for drugs, but not for trade compliance. Because it hasn’t been measurable, it hasn’t been worth it? Yes, exactly. And now the incentive is there. . . . There’s a bill in the Senate that’s being talked about and maybe Executive Order we will see to make it much more difficult for this type of fraud. But it’s not China-specific. I think this is like anyone in the world if you’re in a foreign country. You can take advantage of this. Don’t do that by the way. And if you’re an American company that’s buying from those people on those terms and they#8217;re importing for you, you are committing fraud. And I only have one rule in life: I’m never going to jail. I don’t have the personality for it.
Category:
E-Commerce
Three years ago, Patagonias founder Yvon Chouinard made an unprecedented move: he and his family gave away the company. Instead of selling the multibillion-dollar retailer or taking it public, they created a new trust and nonprofit that would use the companys profits to fight climate change and protect nature. In a new report that looks at companys impact over its 52-year history, Patagonia shares how the change has amplified its environmental work. While the companys day-to-day internal work hasnt changed significantly, were giving away a lot more money to protect the planet, says Corley McKenna, Patagonias chief impact officer. [Photo: Ken Etzel/courtesy Patagonia] The company has a long history of environmental giving. It pioneered an Earth tax in the 1980s to give 1% of its profits to environmental causes, later formalized as 1% for the Planet, an organization that thousands of companies have now joined. But the companys new structure enables giving at a much greater scale. Each year, as much as 98% of its profits can now be spent on climate action, after subtracting any funds needed for reinvestment in the business. (The company hasnt shared exactly how much cash goes back to the business itself, but it needs some funds for building retail stores, buying inventory, and having some money in a bank to weather unexpected events like a pandemic.) The remaining 2% of profits fund the companys purpose trust, designed to ensure that the company makes all decisions in line with its purpose to help save the planet, even long after Choinard and his family are gone. It’s really designed to lock in the values of the company,” McKenna says. A future CEO “can’t go rogue and take the company in a totally different direction.” Wetsuit repairs technicians Buddy Pendergast (left) and Hector Castro (middle) at our 2023 Wetsuit Forge repair event in New Hampshire. [Photo: Ryan Struck/courtesy Patagonia] Since the company restructured in late 2022, Patagonia has given $180 million to the Holdfast Collective, a group of five nonprofit trusts that the company created to fund environmental work. Thats compared to the $10-$15 million a year that the company gives away through 1% for the Planet. The funding has enabled many more of the type of projects that the company already supported. In Alabama, for example, it contributed $2 million this year to help conservation groups buy 8,000 acres in Georgias Okefenokee swamp, a unique ecosystem with rare and endangered animals, which was at threat for development of a new mine. In Alaska, it spent $3.1 million at a critical moment to prevent the development of another mine in the Bristol Bay watershed. In Australia, it helped purchase 92,000 acres of land. [Photo: Tim Davis/courtesy Patagonia] As Patagonia issues dividends to the Holdfast Collective, the funds are essentially spent right away. The goal is for hold fast to move that money to urgent needs quickly, says McKenna. A lot of philanthropies are creating endowments and they want to really save that money. The Chouinards feeling is the planet needs the money now. So [Holdfast] is trying to move it as quickly as possible. All of this adds to the work that Patagonias environmental activism team was already doing to support grassroots nonprofits working on issues like land protection, sustainable agriculture, and climate. That team works closely with the nonprofits, looking for ways not just to give money but for the company to elevate specific issues to get support from its customerslike helping establish Bears Ears National Monument, and then fighting the first Trump administration when it shrank the size of monument. Patagonia employees at the Protect Our Parks rally at Channel Islands National Parks Visitor Center in March 2025. Ventura, California. [Photo: Tim Davis/courtesy Patagonia] The environmental activism team is strategic about what it supports. This year, it worked with a coalition to fight against part of the reconciliation bill to sell off hundreds of thousands of acres of public lands in the U.S. “That was a big win at a tough time,” says McKenna. “I think we wouldn’t be able to have these successes if we were tring to do everything, if we were trying to win every battle. We just can’t do that.” The company also continues to work to reduce its own environmental footprint, though the report acknowledges the challenges it still has as it reaches for climate goals. (Some 2025 targets, like a goal for half of its synthetic fabric to be made from waste, won’t be met on time.) It’s critical, the company says, for other businesses to also focus on climate actionboth in internal operations and in philanthropyat a moment when politics are moving in the other direction. “What we realize is it cannot just be Patagonia out here trying to do business differently,” says McKenna. Digging in at the Frontline Action on Coal camp in Queensland, Australia, where Patagonia Global Sport Activist Belinda Baggs (left) and friends rolled up their sleeves. [Photo: Emma Bäcklund/courtesy Patagonia] Businesses “definitely need to exist to do more than enrich a handful of individuals,” Choinard writes in the report, as he says that he’s been “working harder than an 87-year-old should” since giving away Patagonia. Companies can and should exist to solve problems. Corporate influence already crosses borders and shapes government policy everywhere. Imagine what could happen if interest groups and lobbyists prioritized planetary and human health over environmental deregulation. Or if even just a few multinational mega-corporations dedicated some of their profits toward doing good beyond what can be written off their taxes. Similarly, if enough companies join together and decide our planet takes precedence over profit, we can change the world. We could change capitalism for good.
Category:
E-Commerce
Its open enrollment season againthat period between October and November when workers must reacquaint themselves with deductibles, copays, and premiums. Many would rather wait at the DMV, sit through a three-hour work meeting, or attempt to explain social media to tech-challeged loved ones than spend their afternoon selecting an insurance plan. Thats why some workers are farming out everything on their health insurance to-do list to AI and social media. New research from HR tech company Justworks and The Harris Poll shows were entering the era of benefit burnout: Many people are not doing their own research on what plans are best for them, and instead of consulting HR, they’re outsourcing their decisions to artificial intelligence or crowdsourcing on TikTok. Some are simply hitting renew to avoid the stress altogether, potentially costing themselves and their employers in the long run. Its a precarious time to be doing that, and with rising premiums, open enrollment is set to be more stressful than ever. According to a study by health policy research and polling firm KFF, the amount health insurers charge for coverage on the ACA marketplaces is rising by an average of 26% in 2026. Justworks Benefit Blindspots Report, released earlier this month, found that 62% of zillennials (Gen Z and millennials) would entrust AI to help them decode benefits or compare plan options rather than try to figure it out themselves. Thats compared with just 29% of Gen Xers and boomers. Its not just AI. Gen Zers are also more likely to use TikTok, Instagram, or Reddit for research than to ask their employer or HR department for help. It doesnt always pay off: Nearly half forget or regret what plan they picked, according to the Justworks data, and 22% simply reenroll in last years plan rather than shop around. Healthcare is one of your biggest annual expenses, right after rent, yet 22% of people simply reenroll in last years plan without looking at the details, David Feinberg, SVP of risk and insurance at Justworks, told Fast Company. Take the time to review how your needs have changedsuch as new prescriptions, dependents, or health goalsbefore you simply reenroll in last years plan. The more expensive the plan is doesnt always mean it’s better, either. I see so many people default to the most expensive plan they can afford, assuming its the safest bet. In reality, the right choice depends on your actual health needs and risk tolerance, Feinberg said. A high-deductible plan paired with an HSA can provide you with savings for healthcare needs in the long term. Gen Zers and millennials are also leaving money on the table when it comes to flexible spending accounts (FSAs) and health savings accounts (HSAs). While 30% of zillennials have an FSA or HSA, only about 1 in 5 (19%) use one and understand the benefits of it, according to the Justworks data. Tax-advantaged accounts are one of the most underused benefits out there. You can use them for everyday needs like contact lenses or therapy apps, and if you invest your HSA early, it can grow tax-free for decades, Feinberg said. Its one of the easiest ways to build long-term financial wellness through your benefits. Thats where employers can step in, rather than leaving AI to fill the knowledge gap. Employers who meet Gen Z where they arewith digital tools, plain language, and proactive supportwill help close the confidence gap driving so much planxiety, he added. Luckily, some firms are already rolling out AI chatbots to answer staffs HR questionsa more solid alternative, perhaps, for workers whod boot up ChatGPT for tips instead.
Category:
E-Commerce
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