A trading card company teams up with the Westminster Kennel Club to launch dog trading cards, tapping into the lucrative pet market. Meanwhile, Starbucks is shaking up its menu by cutting certain drinks. In the corporate world, Dropbox faces massive layoffs and Chipotle navigates through its own challenges. Vintage dog trading cards are making a comeback, with roots tracing back to the late 1800s. Lastly, job hunting trends reveal the best and worst states to find employment.
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Quick takeaways
Topps is launching dog trading cards in collaboration with the Westminster Kennel Club to target a niche market of pet enthusiasts and collectors.
Starbucks is discontinuing select drinks, including olive oil-infused options, to adapt to changing consumer preferences and innovate in a competitive coffee market.
Deep dives
The Emergence of Dog Trading Cards
The trading card industry is witnessing a unique development with the introduction of dog trading cards, stemming from a partnership between Topps and the Westminster Kennel Club. This concept has historical roots, tracing back to the late 1800s when tobacco companies produced various types of trading cards, including those featuring animals and famous figures. The anticipated success of these dog cards lies in their connection to the established popularity of dog shows and an increasing pet consciousness among consumers post-pandemic. By tapping into this nostalgia and novelty, Topps aims to attract a niche market of both dog enthusiasts and collectors, potentially boosting their sales in a competitive market.
Topps's Strategic Growth in Trading Cards
The global trading card market is projected to grow significantly, with estimates reaching nearly $100 billion by 2027, making it an attractive space for companies like Topps. Following its acquisition by Fanatics, Topps reported substantial revenue in baseball card sales, emphasizing the continuing profitability of traditional trading cards. The new dog cards will include limited-edition relic cards, adding a gamification element that may appeal to collectors and incentivize purchases. This strategic move could potentially diversify Topps's offerings and align with the growing trend of pet ownership and associated spending.
Starbucks's Menu Adjustments and Consumer Trends
Starbucks is making notable changes to its menu amid ongoing conversations about employee productivity and consumer preferences. As part of their strategy, the company is cutting certain items, including unique offerings like olive oil-infused drinks, which garnered mixed reviews from customers. The discussions around this menu change also touched on broader trends in the coffee market, such as the rising popularity of the espresso tonic—a beverage seen in many specialty coffee shops but absent from Starbucks's lineup. This reflects the company's pursuit of innovative yet sometimes controversial offerings to maintain relevance in a rapidly evolving coffee culture.
Famed trading card company Topps is partnering with Westminster Kennel Club to get dogs onto cards. The company sees this as a potential gold mine, but will people really buy dog trading cards? Plus: Starbucks discontinues some drinks and Dropbox lays off 20% of its global staff.
Join our hosts Jon Weigell and Juliet Bennett as they take you through our most interesting stories of the day.
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