Need to Know
21 : 07 : 22

South Korea – Recognising the growing importance of localism and community-building in many global regions, sportswear giant Nike has unveiled a neighbourhood-retail concept in South Korea’s Hongdae region. The concept, Nike Style, is the first of its kind and will be followed by more across multiple international markets.

In the inaugural store, visitors can make use of a content studio with customisable backdrops, and experience augmented reality (AR) content relating to product innovations and in-store art installations. It will also host workshops and events for its members. Here, the retail concept allows Nike to fine-tune its international appeal in a way that reflects the interests of a local subset of consumers.

‘The Hongdae neighbourhood holds a strong relationship with the sneaker and neighbourhood-retail community,’ the company said in a statement. ‘With the Style retail concept, Nike helps broaden the aperture of sports retail culture by continuing to blend physical and digital experiences.’ Elsewhere, we’ve previously explored the Studio Stores that have allowed retailers to become multimedia hubs for content creation.

Kingston-upon-Thames – Bone Idyll, an immersive distillery and bar, has arrived in the English town as a result of investment from local communities. The venue produces a range of small-batch spirits and cocktails, all available for in-house consumption and nationwide delivery. Bone Idyll is owned by husband-and-wife duo Sam and Alex Berry. The pair avoided traditional crowdfunding platforms in favour of 50 investors living in Surbiton, Kingston and Teddington.

By taking this approach, the venue demonstrates the ongoing potential for community-funded establishments – a behaviour that seems to be outlasting the pandemic-led mindset of community togetherness. ‘We liked the idea of this project being built from the community up and investors who had a genuine interest in us as founders as well as the project itself, through all its creativity,’ says Sam Berry, co-founder of Bone Idyll. ‘They are also our brand ambassadors and part of the Bone Idyll family.’

Such an approach to creating a business aligns with the shift away from an individually minded society towards a collective one. For more, delve into our Neo-collectivists community.

As neurodivergencies become more commonly researched, a UK study by YouGov – commissioned by Monzo – finds that those living with attention deficit hyperactivity disorder (ADHD) are more likely to struggle with managing their money, with two-thirds (65%) saying it makes managing their finances more difficult.

The research shows that spending impulsively (58%), difficulty budgeting (51%) and struggling to save money (49%) are the biggest issues faced by people with ADHD. Meanwhile, those with the condition are twice as likely (76%) to suffer from anxiety linked to their finances as the general population (38%). These findings point towards a need for tailored financial support for people with ADHD and other neurodivergent conditions.

Looking ahead, there is a need for Divergent Design principles to be applied to the fintech sector in a way that reduces financial anxieties and actively supports people with saving and budgeting.