The experience economy is on the rise as consumers are trending toward spending money on events rather than things. Velocity Black wants to capitalize on the shift with a subscription service app catering to the elite.
Velocity Black is a concierge-style membership service that offers experiences like private blue whale watching tours, flying a fighter jet to the edge of space, and taking a submarine down to the ruins of the Titanic. The service charges a baseline annual fee of $2,400 and then adds expenses on top of that.
Zia Yusuf is the CEO of Velocity Black and he explains that for the cash rich and time poor, time is the greatest luxury. It is the only thing we are not getting back.
Summer camps across the country will open this month, but parents may experience some sticker shock. With the cost of goods and services rising, so is the price of camp. Cheddar’s Ashley Mastronardi spoke to experts who shed some light on how this will affect your wallet.
Living in New York City, working full time and without a car, Jessica Ray and her husband have come to rely on deliveries of food and just about everything else for their home. It has meant more free time on weekends with their young son, rather than standing in line for toilet paper or dragging heavy bags of dog food back to their apartment.
Cheddar News checks in to see what to look out for on The Day Ahead as Campbell Soup and Vera Bradley are due to report earnings while economic data, including the April trade deficit and consumer credit, are slated to be released. And Wednesday is World Food Safety Day.
Financial services company Marqeta released its fourth annual state of payments report which reveals how widely Americans have adopted new technology like mobile banking and wallets. Marqeta CEO Simon Khalaf joined Cheddar News to discuss how common digital payments have become.
Katherine Rooney Vera, chief market strategist with StoneX, joined Cheddar News to discuss what investors should expect as the S&P closed near a nine-month high with volatility levels at their lowest level in over three years.
