PSFK
PSFK
TypeLimited Liability Company
Industry
  • Publishing
  • Market Research
  • Business Consulting
Founded2004
FounderPiers Fawkes
Headquarters
New York, New York
,
United States
Number of locations
1
Area served
International
Key people
  • Piers Fawkes (Founder, President)
  • Hedyeh Parsia (COO)
  • Jeff Weiner (Partner)
Products
  • Future of Retail Report
  • PSFK iQ
BrandsRetail Innovation Week
ServicesMarket Intelligence, Conferences
OwnerPiers Fawkes
Number of employees
25
Websitewww.psfk.com
Footnotes / references
[1][2]

PSFK is an American media company located in New York, New York. The company follows and reports on trends.

History

PSFK examines trends in major corporations. The company does innovation research for corporate clients to determine trends and consumer behaviors. PSFK offers corporations the market research platform, weekly newsletters, and retail innovation strategy including trends research and store design. The retail strategy firm also has a library of many trends research reports.

It was founded by Piers Fawkes in 2004. The name is from the mixed initials of Piers Fawkes and his friend Simon King.[3] Fawkes ran his own website with a blog. He relocated from London to New York and started covering technology and other trends on his blog, which formed the basis for PSFK.[1] He worked as a dog walker and other odd-jobs until he started his startup.[2] His first client was Anheuser-Busch. They had seven employees as of 2011. Clients include Coca-Cola, Target Corporation, BMW and Procter & Gamble.[1]

In 2009, PSFK created a list of the top 10 most "inspirational brands," which included Google, Apple, Zipcar, and other major consumer companies. They gathered the list by reviewing the blogs that PSFK had written over a period of time and then had a panel of specialists review the subjects to create the list.[4] They publish The Future of Retail report annually, which covers trends and documentation about retail sales.[1] Trends they have reported on include circular supply chains,[5] chat-bots,[6] Generation Z,[7] metaverse and retail store technology.[8] Their researchers also focus on omnichannel concepts in which customers that have a seamless experience across different “channels,” like social media, phone and in a physical store.[9]

In 2011, PSFK partnered with former Vice President Al Gore's Climate Reality Project to host a competition seeking video games that could help combat climate change. The results of the partnership were announced at a "Gaming for Good" salon in New York City. The idea grew out of a PSFK report on "The Future of Gaming."

The company offices were located on Bond Street in New York City.[1] In 2013, the company had 15 employees.[2] The majority of their revenue comes from consulting, with the rest coming from conferences, special events,[10] retail strategy reports,[8] consumer research surveys[6] and newsletter advertising.

Reception

Fortune called PSFK a "21st-century re-boot" of McKinsey & Company. However, "despite its impressive client list and growing capabilities it's unlikely that PSFK will threaten McKinsey".[1]

References

  1. 1 2 3 4 5 6 Vella, Matt. "Meet the future of consulting". Fortune. Retrieved 31 July 2014.
  2. 1 2 3 Groth, Aimee. "The Best Way To Test Yourself Is To Start From Nothing". Business Insider. Retrieved 31 July 2014.
  3. ↑ "PSFK definition". Fullforms.com.
  4. ↑ Patel, Kunur. "PSFK Ranks Top Inspirational Brands". Ad Age. Advertising Age. Retrieved 31 July 2014.
  5. ↑ "The circular supply chains of the future". NRF. Retrieved 2022-06-10.
  6. 1 2 "Chatbots to make online banking efficient and more personalised". Verdict. 2022-05-26. Retrieved 2022-06-10.
  7. ↑ Salfino, Catherine (2020-01-09). "Those Pesky Kids Are Showing Up—and They Want Sustainable Clothes". Sourcing Journal. Retrieved 2022-06-10.
  8. 1 2 "Study: Stores aren't providing the tech innovation customers want". Chain Store Age. Retrieved 2022-06-10.
  9. ↑ Gomelsky, Victoria (2021-06-18). "What's Next for Watches?". The New York Times. ISSN 0362-4331. Retrieved 2021-06-21.
  10. ↑ Binns, Jessica (2019-01-24). "Why Former eBay Retail Innovation Head Says Kiosks Hold "Great Opportunity" for Stores". Sourcing Journal. Retrieved 2022-06-10.
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