LSN : News : Stat: Singles tax makes single life more difficult amid rising inflation

Wise rebrands to take care of The World’s Money

Wise. Identity by Ragged Edge

Global – Foreign exchange fintech Wise has been rebranded to reflect its global outlook.

The World’s Money is the guiding principle of the company’s recent visual overhaul, which aims to remind consumers they can use Wise financial products anywhere in the world.

The company partnered with creative agency Ragged Edge to update its look and sensibilities. A vibrant green colour palette replaces its signature blue, moving it away from the favoured hue of most financial institutions. The Wise word mark and fast flag icon have been made bigger, bolder and more legible. A set of graphic tapestries referencing currencies worldwide have been designed to be immediately recognisable in advertising and across Wise’s platforms.

Launched 12 years ago as TransferWise, over 16m people and businesses use Wise’s service today. Unlike bank services, the company positions itself as a fintech disruptor, offering consumers quicker and cheaper access to multiple currencies. By affirming that global financial services can be made more personal and accessible, Wise embodies the wave of fintech disruptors we highlighted in Affirmative Banking.

Strategic opportunity

Fintech can be fun. A bold, declarative and to-the-point graphic identity can help consumers identify how your services can serve them

On opens shoppable science museum

On, UK

UK – On has introduced a retail-meets-museum concept at its first London outpost. The sports brand is using its store to educate shoppers about the science behind its technical running shoes and apparel.

Swiss performance sports brand On took inspiration from a science museum for its Regent Street flagship store. The space has been designed to encourage customers to touch, interact with and explore the technological innovations and sustainability projects on display.

Across the store’s several floors, shoppers can delve into the brand’s universe as the decor and materials transport them to the Alps. The tech-enhanced displays showcase the inner workings of On’s technical shoes and clothes. ‘Our concept is a shoppable science museum. We want to share that what we do is science-based,’ explains On’s head of brand environments Nicholas Martin. Other store highlights include the Magic Wall, which contains all of On’s shoes in all available sizes, allowing customers to reduce waiting time and find what they need at a glance. Shoppers can also enjoy a versatile community-centred space for panels, workouts and events.

This exploratory, immersive and tech-driven Hyperphysical Store brings sport, science, culture and community together to maximise the value of bricks-and-mortar retail and augment the customer experience.

Strategic opportunity

Rethink your bricks-and-mortar touchpoints and treat them as a blank canvas. How can you best translate your brand’s unique qualities into a physical space?

Nokia’s DIY repairable smartphone stands out from MWC contenders

Ahead of the opening of Mobile World Congress (MWC) 2023 Nokia launched its first affordable DIY repairable smartphone. The Nokia G22 stands out from MWC contenders by answering consumers’ long-standing desire for durable and accessible smartphone innovation.

Like many affordable smartphones, the Nokia G22 has a 6.5-inch screen, a 50-megapixel camera and a fingerprint scanner. Designed to be disassembled and re-assembled, its back is removable and its internal components, including the battery, screen and charging port, can be easily unscrewed and swapped out.

The device has been created in partnership with online tech repair guru iFixit, which will make repair guides, produce parts for the G22 for the next five years, and offer affordable professional repair options.

The Nokia G22 ships from 8 March and retails for £169 ($209, €192) with replacement parts priced between £18.99 ($23.45, €21.60) and £44.99 ($55.55, €51.18).

Nokia G22, Finland

Strategic opportunity

Pay attention to the value shift among tech consumers. They want brands to focus on innovations while emphasising accessibility, durability and sustainability

Stat: Singles tax makes single life more difficult amid rising inflation

Klarna Culture Calendar by Snask Studio’

US – A recent survey commissioned by Forbes Advisor of 1,008 US adults, both single and not single, has found that 93% of singles acknowledge the burden of the singles tax. At the same time, one-third of respondents admitted to staying in a relationship longer to take advantage of the financial benefits.

The term ‘singles tax’ refers to higher costs that singles often bear compared with coupled people or singles who don’t live alone, from paying 100% of the rent and household bills to going on solo trips and receiving fewer tax benefits. The cost of living crisis and rising inflation could also justify why a third of Americans admitted to staying in a relationship to maintain financial perks.

In Uncoupled Living, we previously highlighted that being in a couple is becoming a less prevalent way to structure society as more adults embrace the single life. The rising singles tax hints at a new market for group housing, leisure or hospitality services dedicated to singles who enjoy their freedom but can’t afford it alone.

Strategic opportunity

The design and housing industry should consider innovative co-living spaces for individuals of all ages who have embraced singledom as a long-term lifestyle