ACQUIRE - Target Invests $75 Million in Online Startup Casper

Target has become the latest large brick and mortar retailer to take major steps to strengthen their ecommerce profile and appeal to young consumers.

The company recently invested an estimated $75 million in online mattress startup Casper, whose “bed-in-a-box” strategy is tailored to millennials.

The deal will have Casper products exclusively in Target stores starting June 18th.

“At Target, we strive to bring guests amazing new products and exciting partnerships,” says Jill Sando, senior vice president, merchandising, home. “We love Casper’s brand and innovative products—and we really love the idea of giving our guests a simple way to get a better night’s sleep, with everything they need in one convenient place.”

A Recode report, citing unnamed sources, stated Target had initially attempted to purchase the company for $1 billion.

The Casper partnership follows deals Target brokered - with Bevel and Harry’s, two subscription-based online brands - that also resulted in exclusive deals to be the only mass retailer to carry their products.

“The cool factor Target had ten years ago is today captured by these niche brands, and Target is hoping to capture some of their luster with these investments and partnerships,” said eMarketer analyst Yory Wurmser.

These steps by Target are in concert with another large retailer, and one of their major competitors, Walmart.

Walmart recently acquired Jet.com followed by ShoeBuy and Moosejaw - all strong online retailers whose acquisitions have resulted in increased sales and revenue for the retail giant.

Brick and mortar retailers are faced with a rapidly growing global trend in mobile and ecommerce, along with a young customer base growing up in an environment dominated by the Internet of Things.

They are responding by purchasing or partnering with businesses that have a large online subscriber base, outstanding online customer service, and/or strong online retail sales, to help maintain a competitive edge.

WELFARE - Wrongful Deaths and Civil Suits

(Vern, courtesy Tim Reeves)

In 2014, Officer Rodney Price of the Anne Arundel County police service shot and killed Vern, a four-year-old Chesapeake Bay retriever.

The shooting is one of many such incidents, but this one is notable because three years later a jury has awarded Vern’s family $1.26 million in damages.

This amount includes $500,000 in monetary damages and $760,000 for the anguish the family suffered as a result of the shooting.

The question of how to handle pet deaths caused by police officers is a fraught issue in contemporary America.

Late last year a federal court determined that officers are justified in shooting dogs that bark or move during a police raid.

And, earlier this year, a federal judge rejected a request to dismiss a lawsuit filed after an officer shot and killed a dog who charged at him when he entered a yard to search for a missing child.

The courts seem undecided on how to handle situations of pet deaths, and that ambiguity is likely to remain a factor for quite some time.

Pets are in a shifting legal position right now, no longer considered mere property but still not given the same consideration under the law that a person would be.

Some legal scholars have proposed that animals be treated as “living property,” which would introduce a new legal category of property and would afford non-human animals legal rights.

Austria, Germany, and Switzerland all have legislation that defines animals as something other than property, but none of these countries take the legislation so far as to consider animals persons under the law.

Personhood under the law doesn’t necessarily mean that fewer dogs would be killed, or that their families would more easily or consistently receive compensation.

America’s grappling with police shootings and wrongful deaths extend far beyond the many animals shot and killed each year, and the $1.26 million damages awarded following Vernon’s death stand in stark contrast to other recent lawsuit settlements.

Last month, a Cook County jury awarded $350,000 in damages after ruling that the police shooting of Christian Green, a 17-year-old black teen, was unjustified.

A 2014 report by the Washington Post found that municipalities pay out millions of dollars settling lawsuits related to police abuse, and a 2015 report by the same paper highlighted the uneven results of civil suits.

Some claimants receive awards in the millions, and some receive nothing.

There are many factors that influence how, and whether, families receive financial compensation following a wrongful death, but often these cases require proof of improper training or past misconduct.

The issue of wrongful police killings of humans, which disproportionately impact racialized communities in both America and Canada, is a separate issue from that of police shootings of dogs.

But they share an element in common – these killings are often committed by police officers who have not received adequate training in de-escalation, threat assessment, and non-lethal response.

Officers have been trained to use force first, and efforts to move to de-escalation training (which could reduce avoidable deaths), has met some resistance.

Although civil lawsuits offer families some compensation following these tragic deaths, no dollar amount can be sufficient.

There remains a need to teach officers how to respond more effectively to perceived threats.

In 2013, following Vern’s death, owner Tim Reeves questioned the safety of an officer discharging his weapon in a residential neighbourhood. He said, “I’m just glad it wasn’t a person.”

Unfortunately, sometimes, it is a person.

About Tiffany Sostar

Tiffany is a published academic, an editor with the Editors Association of Canada, an independent scholar and researcher, and a self-care and narrative coach. She is particularly interested in the intersection of technology and identity - how our tools shape our selves and change our stories, and in how the nature of work is changing as we incorporate more technology into our daily lives.

DIGITAL - Social Media: Best Practices for Pet Stores

(World Pet Association / SuperZoo)

World Pet Association has released a whitepaper to help pet businesses with digital marketing.

Social Media: Best Practices for Pet Stores was compiled by Crystal Vilkaitis, social media expert and SuperZoo speaker.

“Social media has become an indispensable tool for retailers and we recognize they’re hungry for information to ensure they’re optimizing their accounts,” WPA President Doug Poindexter said.

“By providing a whitepaper focused on this hot topic, we’re giving retailers access to actionable ways to improve their businesses.”

The content doesn’t just apply to pet stores, all pet businesses can apply the information in the paper.

With a focus on the social selling mindset, created by Crystal Media, the document is packed with best practices - everything from which channels to focus on to the best mix of video, photos and graphics, along with advertising strategy.

Also included is a case study of The Pet Authority, a company who dumped traditional radio ads for social media, resulting in cost savings and increased sales.

Download a copy of the whitepaper from World Pet Association.

FUTURE TRENDS - Millennials Own More Pets than Other Generations

Millennials are, according to Bob Vetere, the President and CEO of the American Pet Products Association (APPA), “a very passionate, active, and connected group” of pet owners.

APPA released their 2017 National Pet Owners Survey at the end of March, and the findings indicate that, for the first time, millennials own more pets than Gen Xers or baby boomers.

Millennials are the generation born between 1981 and 2000, and reading between the lines of the report, it is possible to see hints of a generation leaning on their pets as they struggle with ongoing economic stress.

Some of the key findings from the APPA report are:

·       85% of owners believe pets are a good source of affection

·       82% agree that interacting with a pet can help them relax

·       81% are aware that owning a pet can be beneficial to their own health

·       81% feel unconditional love for their pet

·       61% feel buying a pet product made in the USA is important to them

Many of these findings are encouraging.

Engaged, committed, loving pet owners are good for pets and for pet-related industries. However, when discussing the millennial generation, intentions cannot be teased apart from economics.

Millennials are the subject of heated debate among pundits and professionals.

Are they the most entitled generation? (Probably not.) The most narcissistic generation? The most cautious generation? The most unique generation? The most stressed out generation? The most anxious generation? The most progressive generation?

If nothing else, they may be the most speculated upon generation!

Some of these generational traits have significant implications for the role of millennials within the pet industry.

In 2014, Forbes reported that half of Millennials were living paycheck to paycheck, and three years later, millennials are carrying high debt loads.

Despite the fact that millennials are a passionate generation of pet owners, pet ownership is expensive and millennials are a generation beset by economic insecurity and political volatility.

This economic instability is one reason so many millennials own pets, but not houses.

It is also one reason so many love their pets unconditionally, but are forgoing or delaying parenthood.

But, despite the fact that pet ownership is not as expensive as home ownership or parenthood, economic instability can put pet ownership at risk.

In Alberta, the Calgary Humane Society has seen a significant increase in owner surrenders coinciding with the ongoing economic struggle.

This pattern repeats itself across North America, where economic hardship is a frequent cause of pet surrender.

Despite this, millennial spending on pets is expected to increase in the next year.

Not only are pets being treated as surrogate children by many millennials, there is also the reality of health benefits resulting from pet ownership.

Studies show that pets can help with everything from PTSD to high blood pressure, and with healthcare costs remaining high, pets may play yet another important role for millennials.

Regardless of the pressures facing the millennial generation, their pets are standing by to help.

About Tiffany Sostar

Tiffany is a published academic, an editor with the Editors Association of Canada, an independent scholar and researcher, and a self-care and narrative coach. She is particularly interested in the intersection of technology and identity - how our tools shape our selves and change our stories, and in how the nature of work is changing as we incorporate more technology into our daily lives.

BUSINESS - For-Profit Companies Created to Impact Social Issues

With millennials being a generation of social innovators, many companies are building social innovation into their business.

There is also a growing number of businesses being created for social innovation - the integration of private capital with public and philanthropic support.

One example is 7 Virtues, a Canadian company created specifically to empower families in countries that are rebuilding.

Inspired by her injured friend’s experience in the military in Afghanistan, founder Barb Stegemann started a perfume company that sourced essential oils from the war-torn country.  

Stegemann read about Abdullah Arsala, owner of a distillery in Jalalabad, Afghanistan who was trying to support his tribe by creating legal crops of orange blossom and rose instead of the poppy crop that accounts for 90% of the world’s heroin supply.

Her company’s mission: Make Perfume Not War. To make rebuilding more exciting than destruction.

Since they began sourcing oils from Afghanistan, they have expanded to also include Haiti and Rwanda.

7 Virtues purchase their organic patchouli essential oil from farming co-operatives in Rwanda so locals can buy school uniforms and build homes for their families.

Another goal of the company is to encourage other businesses to trade with nations that are rebuilding:

“Buy their saffron, buy their soaps, candles, essential oils, buy anything that will empower families to buy books and shoes for their children and take it to market.”

7 Virtues pays fair market value for their oils and does not test on animals.

A documentary - Perfume War - was created that tells the story of Stegemann and the creation of her company, including an appearance on Dragon’s Den and subsequent investment by businessman and philanthropist W. Brett Wilson.

Because millennials are so concerned about social issues such as human rights, racial justice, gender equality, representation and more, it won’t be surprising to see more businesses embrace social innovation or be founded based on the concept.

DIGITAL - Live Video: Tips and Techniques for Creating Great Content

Live video - everybody’s talking about it, everyone says you should do it, and you need to do it well.

Social Media Examiner’s latest podcast features Alex Khan, the founder of Attractive Media, a German social media agency that helps businesses with live video.

Khan says that in only two years, he’s built his audience from nothing to 230,000 followers and 55 million hearts on Periscope, and he shares tips for creating great content.

According to the podcast, Khan believes people watching live video are always interested in five topics:

• Personal stories
• Behind the scenes
• Q&A’s
• Giveaways
• Sneak peeks

And your video doesn’t need to be limited to one topic, you can incorporate more.

The good news he shares is there is no expectation of perfection when you’re live - the medium is appealing because it replicates the way people connect and talk to each other in real life.

Khan shares the best ways to open and end a live stream and when to ask for a share or follow - hint: it’s not at the end - and he goes on to discuss code word strategy, software that adds graphics and animation, and much more.

Listen to the entire podcast of Live Video: Tips and Techniques for Creating Great Content.

HEALTH - Hyperbaric Oxygen Therapy More Popular for Pets

(vetspecialty.com)

 

The Animal Dermatology Clinic (ADC) in Pasadena, California recently began offering hyperbaric oxygen therapy (HBOT), becoming the only dermatology specialist in the world to offer HBOT in their clinic.

This therapy is becoming a more popular treatment for pets, with veterinarians claiming results including reduction in swelling, stimulation of new blood vessel formation into the healing/swollen tissue, a reduction in pressure caused by head or spinal cord injuries, improved wound healing, and improved infection control.

HBOT is the delivery of 100% oxygen under pressure.

It has rapidly grown from being used only in the treatment of SCUBA divers with decompression illness to a large number of clinical applications for humans throughout the world.

It is a relatively new modality in veterinary medicine.

Veterinarians use hyperbaric oxygen therapy to treat a variety of chronic and acute conditions including:

• Swelling—post-operative, crush injuries, snake bite, burns
• Trauma—internal, head, spinal cord
• Non-healing wounds
• Smoke inhalation
• Carbon monoxide toxicity
• Pancreatitis
• Near-drowning/near-hanging

While the treatment is being adopted by many veterinarians, it’s challenging to find research that documents just how effective the therapy is for pets.

However, veterinarians share a variety of success stories about their own patients, and the large number of treatments have allowed the pioneers in the veterinary hyperbaric field to develop treatment protocols, safety standards and operational guidelines for chamber technicians.

The Veterinary Hyperbaric Medicine Society offers education about the science and clinical application of hyperbaric therapy in animal and human medicine.

They also provide the prerequisite training for CHT-V (Certified Hyperbaric Technologist-Veterinary) a designation that is acquired through the National Board of Diving and Hyperbaric Technology.

BUSINESS - Pros and Cons: Corporatization of the Veterinary Industry

(Banfield Pet Hospital)

The Mars acquisition of VCA has resulted in concern in some parts of the veterinary community.

There are vets who have felt disenfranchised and restricted by corporatization, and others who feel that corporatization compromises vet care.

Banfield pet hospitals, an earlier Mars acquisition, have faced significant criticism from vets whose practices were purchased and brought under their corporate management.

Banfield was purchased by Mars in 2007, and Mars further expanded into the pet healthcare industry in 2015 with the acquisition of BluePearl.

Although Banfield’s mixed reputation caused some pause for BluePearl executives when Mars approached them, Dr. Neil Shaw outlined some of the benefits of being acquired by Mars.

Some of the benefits that Shaw saw for BluePearl in the acquisition included:  

1. Ability to solicit input from successful professionals in other service industries on how to develop the very best models for service
2. Grow our internal team development/training capability
3. Provide additional advancement opportunities for all team members
4. Hopefully be able to increase our benefit package over time
5. Grow the organization by expanding the number of BluePearl hospitals to reach more pets
6. Increase the efficiency of the referral process for it to have a larger footprint within the veterinary community
   
   

These benefits are among the many reasons that corporatization, controversial though it may be, offers hope for an industry currently struggling with mental health crises and frequent burn-out, the high cost of turnover among veterinary teams, and a changing dynamic when it comes to practice management.

As Today’s Veterinary Practice noted last year, “today’s veterinary practice is no longer part of an insignificant, mom-and-pop industry; instead, it is an exciting, evolving marketplace to which the rest of the world is paying close attention.”

Increasing the support base for veterinarians has the potential to alleviate these pressures on individual veterinarians, and that would be good for everyone from the boardroom to the waiting room to the homes of well-cared-for clients.

The Mars acquisition of VCA is an interesting move, and structurally different than both the Banfield and BluePearl acquisitions.

Unlike both Banfield and BluePearl, which were companies founded by veterinarians, none of VCA’s founders are vets.

Despite this, VCA has gained a reputation that eluded Banfield and although views among the veterinary community are mixed, the company has a reputation for providing consistent quality care in its clinics and hospitals.

If Mars is able to incorporate VCA’s positive reputation and approach to pet healthcare, the merger has the potential to offer significant benefits to both vets and clients.

One of the ways corporatization could work as a positive force, and a focus that Mars will benefit from and hopefully avoid the mixed results seen by Banfield, is to centre veterinarian agency and autonomy – to offer support and infrastructure and business training to the veterinarians, without rigidly dictating how they do their jobs.

This was the main complaint from vets who disliked or distrusted corporatization, and, in the UK, where the agency of individual vets has been preserved within corporatization, the response is much more universally positive.

Simon Innes, the chief executive of CVS in the UK, told The Telegraph, “You don’t really need to dictate to clinicians. The minute you start to do that, is the minute they say no… The idea of the model is that at the business end we create an environment where vets can get on with what they are good at: treating clients. We help them by giving them professional support they need.”

What do you think about the corporatization of the veterinary industry?

Watch InfoStream this week for a YourSAYTM survey and share your views.

About Tiffany Sostar

Tiffany is a published academic, an editor with the Editors Association of Canada, an independent scholar and researcher, and a self-care and narrative coach. She is particularly interested in the intersection of technology and identity - how our tools shape our selves and change our stories, and in how the nature of work is changing as we incorporate more technology into our daily lives.