Latest news with #postpandemic
South China Morning Post
10 hours ago
- Business
- South China Morning Post
How Hong Kong's cafes reinvented themselves – from DJs and running clubs to vintage clothes
This past March, an Instagram Reel of DJ Dcr Milda tearing through a remix of Benny Benassi's 'Satisfaction' inside a packed Hong Kong cafe did something rare: it made people stop scrolling and pay attention. Not just because of the euphoric crowd throwing their hands up like they were partying at one of Lan Kwai Fong's clubs on a Sunday afternoon, but because of its casual caption: 'Just another Sunday at [a] coffee shop in Hong Kong.' The first Social Club Series cafe party in Hong Kong. Photo: Handout The subtext is louder than the bass: Hong Kong's cafe culture isn't just about flat whites and avocado toast any more. Coffee shops have morphed into the city's latest social experience – just look at these pop-up parties organised by the likes of Social Club Series. Why the change? According to the project's founders Isaac Woo and Sandy Lam, cafes have been adapting to Hong Kong's elevating rents and changing consumer behaviour. Advertisement 'Post-pandemic, Hong Kong's cafe culture has been in need of fresh fuel,' Lam says. 'There is a lot of competition and [fewer] people consuming, as the work-from-home culture has faded away and people spend their weekends in Shenzhen.' The context is stark: Hong Kong's once-thriving F&B scene faces its worst downturn in decades. Tai Pan Bakery and Bedu are among recent closures blamed on skyrocketing rents, shifting consumer habits and a growing weekend exodus to mainland China. Border crossings surged 48 per cent last year to 93 million in 2024, leaving local cafes and restaurants to compete for a shrinking pool of patrons. 'By organising pop-up concerts during non-peak hours, we're transforming cafes into alternative spaces of interest,' Woo says. 'We're creating moments worth showing up for and posting about. It's giving people new reasons to look at their neighbourhood coffee shops as must-visit weekend destinations.' It's a win-win situation, according to the Social Club Series founders: cafes make money and attract a new pool of patrons, and customers get a fun afternoon out. 'Coffee shops offer a more inclusive, healthy environment,' Lam says. 'It's great for people [who are] not used to going clubbing, because they can dance their heart out and meet new people,' adds Woo. Community anchors Wazup Running Club at The Station in Hong Kong, which doubles as a community space for runners. Photo: Handout
Independent Singapore
a day ago
- Business
- Independent Singapore
'Savings? What savings? How Singaporeans are surviving paycheck to paycheck'
SINGAPORE: In an instant of vulnerability, a Reddit user in his late 20s posted an earnest revelation that resonated with thousands: 'This post is just for me to know I'm not alone. I'm nearly 30 yet have no savings due to circumstances such as no allowance for nearly two decades and having to help pay off expensive bills. Every pay after offsetting important bills makes me feel like I'm back to square one… I am trying my very best still and just wondering how others around my age are coping.' Soon, others began to share their own stories, not with judgment, but with agreement. 'Enjoy life while you can.' One of the most touching reactions came from a netizen who had fought cancer in her late 20s. 'I'm surviving well, with around S$1,000 in savings. The rest went to healthcare. Don't think too much — enjoy your life while you can. Many dying people your age would give everything they have for a few days of your life.' The message wasn't indifferent to financial pressure, but a compelling reminder that life's worth isn't only measured in how thick one's bank book is. The post-pandemic financial freefall Another Redditor showed how his uncertain recovery from the COVID-19 financial drain was suddenly dashed: 'All my savings were wiped out during the first COVID outbreak. Just as I started rebuilding, my company retrenched me. Everything gone again.' Now that he is in a new job on probation, he's in survival mode — juggling bills, becoming skilled at DIY home upkeep, and cuddling every cent of savings from transport handovers. 'Living hand to mouth and hoping nothing explodes at home.' 'It's okay to start over.' Many in their 30s are hitting the reset financial button. Medical expenses, price increases, and stagnant salaries have merged into a seamless tornado that's left many tramping waters. 'It's okay to start over — it's not too late. Any savings is good savings,' one netizen reassured. The Redditor suggested tapping into government subsidies and grants like CDC vouchers, SG60 promotions, and WTC transport discounts for lower-income earners. 'These save me about $20 to S$30 a month — it adds up.' Some commenters exposed extremely personal challenges — medical ailments kept secret from their families, with swelling expenditures draining their funds every month. 'Every other month, there's something that needs looking at. It's so awful,' one Redditor wrote. Their voice joined a rising echo — numerous adults are just about hanging on, mutely going through their struggles away from the public eye. A different path: Choosing experience However, one commenter stood out for taking a different turn at 30. 'I took a gap year and went to travel and volunteer overseas with only S$10,000 to my name.' Upon his return, he spent the subsequent five years conscientiously saving. Now at 35, he has bought a flat, with zero debt (apart from a loan settled via CPF), and is working towards expanding his financial portfolio. 'All is not lost if you set your priorities right.' Others shared everyday sacrifices that have become part of their routine — hopping away from restaurants in favour of food courts, to walking instead of riding on buses or trains. 'I only have S$2,000 in the bank. No job for 3.5 years. I rely on CDC vouchers and walk home often.' You're not the only one The original Reddit post may have begun as a call for comfort and encouragement, but it swiftly turned into something more reflective, a digital campfire where most of those gathered said, 'Me too.' If you're approaching 30, trying hard to build savings, and feeling like you've fallen behind, know this — you're not alone. Others are treading on parallel paths — grinding, starting over, and doing the best they can. In that collective experience, relief, flexibility, and the inaudible hope that things will get better can be found. Because even when you're back to square one, you're not starting from nothing — you're starting from experience.
France 24
06-07-2025
- Business
- France 24
'Into a void': Young US college graduates face employment crisis
"It was extremely dispiriting," said the 25-year-old, who graduated in 2022 with a degree in law and justice from a university in the US capital Washington. "I was convinced that I was a terrible person, and terrible at working." At 5.8 percent, unemployment for young, recent graduates from US universities is higher than it has been since November 2013, excluding 15 months in the Covid pandemic, according to official data. Moreover, it has also remained stubbornly higher than overall unemployment -- an extremely unusual situation, analysts say. And while overall US unemployment has stabilized between around 3.5 and 4 percent post-pandemic, unemployment for recent college graduates is only trending higher. The labor market for new grads has weakened consistently since 2022, with new hiring down 16 percent in 2025, year-over-year, according to payroll firm Gusto. Analysts say the trend is likely a result of cyclical post-pandemic hiring slowdowns -- particularly in new-grad-heavy sectors like technology, finance, and business information -- and overall economic uncertainty in the tumultuous early days of the Trump administration. That is scant consolation to the droves of young people -- often saddled with huge amounts of student debt -- on the hunt for their first full-time job. "All of the jobs that I wanted, I didn't have the requirements for -- often entry-level jobs would require you to have four or five years of experience," said Atkins, who bounced between part-time roles and working in restaurants for years. 'Extremely high uncertainty' "It is definitely an outlier," said Matthew Martin, senior US economist at Oxford Economics. "You'd expect that the white collar positions would not be as exposed to cyclical downturns (as other jobs)." Job openings for professional and business services have declined by more than 40 percent since 2021, according to research authored by Martin, with tech sector jobs disproportionately impacted. "Part of that is a slower pace of hiring as they right-size after they hired at very high rates in 2022, but at the same time the sheer volume of decline also points to the impact of AI," he told AFP, signaling the potential of artificial intelligence technology to eliminate some entry-level roles. Gregory Daco, chief economist at EY-Parthenon, said slowing tech sector hiring as companies focus on holding on to their talent "disproportionately" affects recent graduates. The hiring slowdown is also a result of US President Donald Trump's far-reaching policy swings since taking office in January, said Daco. "The experience of extremely high uncertainty when it comes to the administration's trade, tax or other policies has caused many firms to potentially slow down or freeze their hiring." He cautioned, however, against jumping to the conclusion that AI had already begun to eliminate entry-level roles, pointing to a so-far limited uptake of the technology by most sectors. "The reality is that a lot of firms are still in the early stages of adoption of these new technologies, and I think it would be a bit premature to assume that we've reached a level of use... that would have a visible macro impact." 'Constantly working' The United States is perhaps the most expensive country in the world for a university education, with an average cost of $27,673 per year for an undergraduate degree, according to official data. In 2020, 36.3 percent of US undergraduates took on federal student loans to help meet those spiraling costs, the data shows, with the Education Data Initiative putting average student loan debt for graduating students at $29,550. Even without student loan debt, however, the weakening job market can leave some recent graduates feeling like they are stretched thin. Katie Bremer, 25, graduated from American University with a dual-degree in Environmental Science and Public Health in 2021. It took her more than a year to find a full-time job -- one not in her field -- and even then, she had to supplement her income by babysitting. "I felt like I was constantly working," she told AFP. "It seems overwhelming, looking at the costs, to try and make your salary stretch all the way to cover all the milestones you're supposed to reach in young adulthood." There is little hope on the immediate horizon, with analysts warning that it will likely take some time for the labor market to resolve itself, with part of that adjustment likely seeing students picking different majors. "It's likely to get worse before it gets better," said Martin. Looking at her peers, many of whom are saddled with huge debt and struggled to find work, Bremer says she worries for their collective long-term future. © 2025 AFP
Globe and Mail
04-07-2025
- Business
- Globe and Mail
YFN Jewelry Brings Affordable Luxury to Life with Factory-Direct Gold and Custom Creations
In 2025, the definition of luxury is shifting. Consumers are no longer impressed by sky-high prices or legacy logos — they're looking for meaning, craftsmanship, and transparency. Enter YFN Jewelry, a brand that blends quality materials, thoughtful design, and personal storytelling — all without the luxury markup. As inflation and post-pandemic spending reshape consumer behavior, affordable luxury has become more than a buzzword; it's a demand. And YFN is meeting it head-on with factory-direct pricing, fast customization, and over 10,000 handcrafted jewelry options. Factory-Direct Pricing Without the Middleman Markup Most traditional jewelry retailers operate through multi-tiered supply chains — brands outsource design, manufacturing, and distribution, with each stage adding layers of cost. YFN takes a different approach. As a factory-direct brand, it controls the entire process in-house — from original design and material sourcing to production and fulfillment. This vertical integration allows YFN to price its products significantly lower than comparable offerings on the market. For example: A 14k gold birthstone necklace with custom engraving from a traditional luxury retailer might cost over $500. On YFN, a similar handcrafted version is available for $299 or less, with free personalization included. A 0.5 ct D-VVS1 lab-grown diamond cushion-cut solitaire engagement ring in 14k gold typically retails at $2000–3000 from mall jewelers. YFN offers comparable designs with the same stone quality and finish starting at $900. YFN doesn't cut corners — it cuts out the middlemen. The result is luxury you can see, feel, and afford. Quality Craftsmanship Meets Personal Expression Affordability doesn't mean compromise. YFN uses premium materials — 925 sterling silver, 10K/14K/18K solid gold, and ethically sourced gemstones, including lab-grown diamonds — to ensure each piece meets high standards of durability and brilliance. Every order is handcrafted by experienced artisans, with attention paid to gemstone setting, engraving precision, polishing, and structural finishing. Customization is a key part of the brand's value: customers can engrave names, initials, dates, or choose specific birthstones and symbolic elements to create a truly personal item. Unlike many brands that require weeks for custom orders, YFN completes most personalized jewelry within 7–10 business days — an impressive turnaround well below industry averages. A Vast Selection to Fit Every Style and Occasion YFN offers more than 10,000 products across 500+ themed collections, giving customers access to one of the most diverse and comprehensive jewelry selections available online. From understated classics to deeply personal statement pieces, there's something for everyone. Some of the brand's bestselling series include: Lab-Grown Diamond Engagement Rings – a modern choice for couples seeking ethical, sustainable, and high-quality stones without the traditional price tag. Initial Jewelry – minimalist necklaces and rings engraved with letters or monograms, perfect for gifting or layering. Birthstone Jewelry – meaningful pieces featuring the gem that represents your birth month or that of a loved one, ideal for birthdays, anniversaries, and mother-child keepsakes. Engraving Jewelry – fully personalized items with names, dates, coordinates, or short messages that carry personal significance. This breadth of themes allows YFN to meet both emotional and aesthetic needs—whether you're celebrating a milestone, remembering a loved one, or simply expressing your style. Meeting the Needs of a Value-Conscious Generation Today's consumers — especially Gen Z and millennials — care about where their money goes. They seek transparency, authenticity, and value. In fact, according to Shopify's 2025 consumer trend report, searches for 'affordable gold jewelry' have surged by over 30% year-over-year, while interest in 'custom gifts' has doubled since 2023. YFN Jewelry sits at the intersection of these trends: offering the aesthetic appeal of luxury with the integrity and personalization modern shoppers crave. The brand's direct-to-consumer model, ethical practices, and fast fulfillment create a seamless experience without the pressure or price tag of traditional retail. Luxury, Made for You At its core, YFN's mission is to make premium, personalized jewelry accessible to everyone — no matter the budget, the occasion, or the story behind the piece. Visit to explore their themed collections, experience custom design, and discover what affordable luxury truly looks like — made just for you.
Skift
03-07-2025
- Business
- Skift
Posadas, Mexico's Largest Hotel Firm, Shifts Focus From Cities to Beaches
Posadas is reshaping its portfolio for a post-pandemic traveler and challenging global players with a tailored, region-first strategy. Mexico's largest homegrown hotel operator, Posadas, is betting big on beach resorts as it diversifies from its traditional base of urban business hotels. Posadas, which built its reputation on city properties serving corporate travelers, now has 61% of its development pipeline focused on coastal all-inclusive resorts. "We would like to have a balanced portfolio where we have 50% business and 50% in leisure," said Enrique Calderón, vice-president upscale & luxury, and chief operating officer. The company plans to open more than 1,300 new resort rooms by the end of 2025 across Mexico and the Caribbean. That pipeline represents a dramatic change for a company where urban hotels still account for 86% of the rooms across its 197 hotels. Posadas' highest-profile opening is the 498-room Fiesta Americana Funeeq Punta Cana, expected later this year. The company also opened the 229-room Fiesta Americana Nuevo Vallarta in June and is preparing for the 2027 opening of Live Aqua Los Cabos, a 90-room luxury resort with branded residences.
