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People all throughout the country have learned to embrace internet shopping 2 years into to the pandemic, but they're also returning to physical businesses. They are once more leaving their homes, yet they are still doing home improvements. Additionally, today's consumers are extremely willing to give up their once-favorite brands in pursuit of better ones that provide value or novelty, which could be a blessing or a curse for manufacturers and merchants. Consumer spending hasn't been slowed down by inflation yet. Despite unprecedented inflation in the first quarter of 2022, US consumers kept their wallets open. The US experienced its greatest hyperinflation in a decade from May 2021 to March 2022, rising to about 8.5 percent by March 2022. However, US consumers increased their spending in March 2022 by 18% compared to the same month two years prior and by 12% beyond what was anticipated according to the pre-COVID-19 trend.( Matthias Pelster ). Both online and in-store purchases are increasing in price. At the beginning of a pandemic, when there wasn't much of an option, people started shopping online in large numbers. Arturo Simentall an associate project manager, suggest, “Due to the panic of many Americans people began to stock up, leaving companies to produce more, causing prices to rise because of such high demand.” However, it seems that a lot of individuals value the ease that e-commerce provides. Even after brick and mortar stores reopened, online channel spending increased. In March 2022, e-commerce growth was 27% year over year; the overall increase in e-commerce penetration from the start of COVID-19 through March 2022 was 33%. ( Regina Ortmann ). Although consumers claim to care about ESG, various people have varied definitions of what it implies. According to Dr. Purushottam Dixit at University of Florida, stat es,“Consumer demand was returned to pre-pandemic levels when the effective vaccine was released, driven by growing consumer confidence, unmet need, and accumulated savings.” Consumers, especially younger generations, claim that environmental, social, and governance (ESG) considerations have some influence on the brands they choose to purchase. Over than two-thirds of youth survey participants stated that they find at least one aspect of ESG to be of utmost importance. Their main concerns are that businesses are open and demonstrate that they care about the people (employees, customers, others in their communities).

From living on their own to starting a new job, the working world is very frightening for many young professionals in the business field. One of the decisions people make when going into the business world is whether they want to work at a startup or a traditional company as these businesses have many differences and similarities. Knowing these can help you find a position at a company that fits your needs and personality. People who work at startups are often people who don’t need as much security and can adapt to new things. Startup companies often pay less. According to Sifted.edu, startup companies pay their employees ”30-40% lower than they’d typically be offered [at a traditional company]”(Miriam Partington, 2022.) For someone who needs more security such as a parent with children at home, this can be difficult because they need the extra money to support their family. Also, people who can’t adapt to a changing environment shouldn’t work at a startup. This is because start ups are inherently risky and always changing. I talked to Mark Schaub, a founder of multiple startup companies, who said workers often have lots of non-traditional responsibilities at start up companies. For example, “tech people will do marketing and marketing people will do sales”. The limited company size leads to workers needing to be flexible. My research indicated that benefits of working at a traditional company are stability and a more consistent schedule. In an article on business culture, Cultural Atlas Editors said that business executives often, “closely monitor absenteeism and productivity of employees”(Cultural Atlas Editors, 2016.) If you want more feedback and structure regarding your job performance , a traditional company is good for you. I talked to Michael Behrensmyer, a young professional employee of a business in Chicago, and he said that he took his job because “I knew I would be able to move up if I worked hard.” People who want security and a more defined path of advancement may want to work at a traditional company because moving up can be more straightforward. Overall, if you want to have a job with more risk and changes, you may want to consider working at a startup, but if you want security and a more defined schedule a traditional company may be right for you.

The pandemic upended lives, disrupted industries, and had seismic impacts on global culture. On one hand, we saw the downfall of live sporting events and concerts, but on the other hand, it gave rise to unique companies like Zoom. In the restaurant industry, a similar phenomenon occurred in the way of Ghost Kitchens . What started as a way for shuttered eateries to generate more profit during COVID has quickly grown into the brightest frontier of food service that may be worth 1 trillion dollars by 2030 (Beckett, 2020). The term Ghost Kitchens can refer to two concepts. On one hand, your typical local restaurant may operate more than one restaurant on delivery apps under pseudonyms to increase their orders and revenue. Another example is delivery-only kitchens like Reef Kitchens and Cloud Kitchens which offer shared kitchen spaces out of which multiple food concepts operate and deliver. Ghost kitchens are predicted to hold a 50 percent share of the drive-thru and takeaway food service markets worldwide, respectively, by 2030 . (Statista, 2023) Since its genesis in 2019, Reef Kitchens operates more than 5,000 delivery-only kitchens in major cities across the U.S. While they started before the pandemic, Reef gained popularity due to decreased restaurant revenues and increased food delivery demand during COVID. Reef doesn’t cook food, construct menus, or acquire ingredients. They simply lease kitchen space, partner with local brands to offer “tasting menus” of a city’s staples, and work with delivery companies to expedite orders. I live in the South Loop of Chicago, and one of my favorite childhood restaurants, Pita Heaven, recently partnered with Reef and became delivery-only. I had the opportunity to speak with a manager there and they shared that their “revenue during COVID had grown way beyond pre-pandemic levels, so they continued the partnership” (Pita Heaven, ‘23). While good for local business owners, one downside is the disappearance of customer-facing restaurant experiences and the jobs entailed within. There’s no longer a host, a cashier, nor a server at Pita Heaven; only a very busy kitchen and an order pickup station. I spoke with Simon Schwartz, a student at Walter Payton, and he enjoys the availability and selection offered by All Day Kitchens, another Chicago concept that offers a few dishes from different Chicago restaurants, delivery-only, until 2 AM. These restaurants have their pros and cons. On the one hand, they offer increased revenue for restaurateurs and customer delivery options. On the other hand, they threaten the in-person dining experience and those employed to serve customers at restaurants. In fact, Reef has had to close some of their satellite kitchens due to permitting, licensing issues, and the recent economic slowdown. I can’t say whether they are good or bad for the industry, but it is clear that ghost kitchens (for now) are here to stay.

The prices of groceries are high. Many stores had to increase their prices when they hit record losses due to supply chain issues, riots and economic downturns. When supply is low but demand remains high, it increases the price of the goods or services affected. This rate at which prices increase over a specific period of time is called inflation and is often measured in broad terms, such as the general rise in prices or the rise in a nation's cost of living. The US Department of Agriculture states, “Average annual food-at-home prices were 3.5 percent higher in 2023 than in 2021” (U.S. Department Of Agriculture’s Economic Research Service, 2023) . The increases in prices have been more recognizable in urban communities where a large number of consumers are receiving government assistance. “All urban consumers increased 8.3 percent for the year ended August 2022” (Bureau Of Labor Statistics, 2022 ). Manufacturing, storage, and retail sources of food were among the many areas of the supply chain that were impacted by the pandemic. A few of these food supply chain issues are still present today . The price of many products, including milk, coffee, fruits and vegetables, have increased by over 10%, with eggs reaching an increase of 39.8%. The labor shortage has not helped the cost of food. Many workers who made, transported and sold food decided to not return to the workforce. Therefore, suppliers had to increase their pay rates to entice workers to re-enter the workforce. Employers are having to pay more for help and are passing those costs onto the consumer. Philicia Wheately, a fifth grade teacher, thinks that more should be done to help those who are struggling. “While I do understand that consumers need to keep up with supply and demand, I also believe that there has to be an understanding that some people are going without because they cannot provide for their families.” CTA employee Shonda Brown states, “When I go grocery shopping for my family, I try to shop on a budget and look for sales. The packaging of items is way smaller due to inflation.” Sadly, it seems these price increases are here to stay. People may just need to adjust to this new norm of inflated prices.

Renewable energy gets its power from resources that will never run out, like sunlight or wind. This is an alternative to burning fossil fuels, like coal and oil, of which there are limited supplies. Although fossil fuels are often used, renewable energy is a fast growing part of the modern world. “Over the past eight years, investments in renewable energy systems have exceeded U.S. $250 billion annually, reaching a record high of U.S. $366 billion in 2021” ( Propenko, 2023 ). One reason renewable energy is expanding so rapidly is that humans need access to a lot more energy than we did in the past. A hundred years ago, cars were only starting to become common. Now, there are millions of cars on the road. Another major reason is that our current way of generating energy involves emissions called “greenhouse gasses'' , especially carbon dioxide. These gasses trap heat from the sun in the Earth’s atmosphere, causing climate change. Mr. O’Dowd-Ryan, an environmental science teacher at Walter Payton College Prep, states, “Climate change is a huge threat to the entire planet. It’s not a question of whether we need to switch from fossil fuels – not doing that is not an option.” However, making that switch isn’t always easy. Clement Dunn, a Chicago teen, says “ using renewable energy isn’t really an option that’s been offered to me .” Most areas only have one or two electricity companies, so individuals can’t really decide where their power is coming from. A way to get around this can be to generate your own electricity with solar panels (if you own your house). This can be expensive, so the federal and many state governments give tax credits to homeowners to help them do this. Local governments sometimes go beyond that and make the switch to renewable energy themselves. The City of Chicago signed a $422 million contract with Constellation Energy to further their commitment that all city-owned buildings will use 100% clean energy by 2025 ( Hickman, 2022 ) . Other governments that have made similar pledges include New York City and the state of California. Although the cost and logistics involved in moving toward renewable energy can seem intimidating, today’s teens can expect to see it becoming more and more prominent throughout their lives!

In 2013, Chicago Public Schools, along with former Mayor Rahm Emanuel, announced plans for the closure of 50 CPS schools in May of that year. Schools reaching minimums in both low enrollment and poor performance were cut. The closure displaced about 11,000 students, marking it the largest mass school closure in the history of the United States . Neighborhoods in the South and West Sides, such as Englewood and Austin, struggled the most with the destabilization of their communities (Parrish & Ikoro, 2022). In the aftermath of the closures, a new funding model known as the Student-Based Budgeting (SBB) model was implemented to provide greater funding to schools deemed more in need than others. As it follows, SBB distributes funds to schools based on a “per-pupil basis” (CTU, 2020) . Ultimately, the more students enrolled within a school, the greater allocation of funds goes towards that school, regardless of the needs of the school’s students. While SBB is praised for allowing schools greater autonomy within their budgets, the model disproportionately disadvantages schools within distressed areas of Chicago. Sara Perez, an elementary school teacher in Chicago’s Little Village, expressed ongoing concern she has about SBB's role in a loss in her students’ success. “Many of my students come from low-income backgrounds requiring additional resources not only academic but socially and emotionally as well.” Perez shared, “I have seen reductions in crucial support staff like counselors and special education teachers eliminating the possibility for students to receive individualized help.” Perez also expressed the increasing vulnerability she felt in juggling the needs of all of her students. As the SBB model continues, the economic divide among Chicago Public Schools increases. Romona Simmons, a former student at Wendell Phillips High School, expressed immense gratitude towards the empowering teachers and students she had met during her high school career. Simmons admitted that the school’s downfall stems from its lack of money. “ While it was clear Phillips lacked classroom and building resources, one thing that I believe was truly hindering, at least during my high school experience, was a lack of social workers on school grounds. If you were a student at Phillips, most likely you had either witnessed violence within or outside the school. I remember there being only one psychologist, even though the school population was really in need of that emotional help.”

All corners of the internet seem to market trading as a get-rich-quick opportunity, with little effort other than buying and selling stocks from your laptop. In reality, successful day trading requires years of training and determination. A mature day trader Ayan Sayani suggests, “Day trading takes a lot of effort, but from the outside it looks like an easy way to get rich because of these supposed millionaires online.” It turns out that the vast majority of people who set out to successfully day trade don’t do it well. “Studies have shown that more than 97% of day traders lose money over time, and less than 1% of day traders are actually profitable” ( Dave Ramsey, 2022 ). Almost everyone who attempts to day trade fails. This is largely due to three reasons: lack of determination, inadequate education of technical analysis, and not having mastery of trading psychology. A lack of experience and knowledge in technical analysis causes people to fall victim to random reinforcement. Random reinforcement is the concept of randomness in the market influencing traders. This randomness is harmful when it punishes good habits and rewards bad habits. It changes a trader’s mentality and without correct understanding. A large majority of people will fall into this trap, picking up bad habits along the way. Random reinforcement also affects the psychology of a trader and causes them to make decisions based on emotions like fear and greed. As someone who day trades for a living, Arkadiusz Betlej, says, “Psychology to me is about 80% of winning in the stock market.” It’s also why so many people lose. Inexperienced traders allow emotions such as fear, greed, and desperation to affect their trades and decision making. Uncontrolled emotions cause traders to make illogical mistakes that could have been avoided. A mix of emotions and losses cause about "85% of day traders [to] quit within the first 3 years of trading” ( Day Trade Review, 2022 ). Day trading can take a lot longer than expected to master and the statistics prove that the large majority of people will not be successful. Whenever making any sort of financial decision make sure to do your own research or consult a certified financial advisor.

In recent years, due to increased purchasing power, social media, and affordability, the fast fashion industry has grown tremendously. While it is currently valued at $30.58 billion (2021), it is projected to reach $39.84 billion in 2025 ( Hayes, 2022 ). Although fast fashion has become increasingly popular among American teenagers and makes clothes more affordable, there are serious ethical and environmental consequences to consider when it comes to purchasing it. Almost all American clothing manufacturing has been outsourced in recent decades, with companies taking advantage of lower wages and less safety regulation in foreign countries. For example, garment workers in Madagascar and Bangladesh earn only $54 and $63 dollars per month, which is only 61% and 66%, respectively, of the country’s monthly local living wage ( Lu, 2020 ). This leads to workers having to work unrealistic hours or seek other low-paying jobs. Additionally, due to profit incentives, many textile factories neglect worker safety issues. This was on full display in the Bangladesh Rana Plaza disaster in 2013, when a facility disaster took the lives of more than a thousand workers ( International Labour Organization, 2023 ). As foreign garment workers are in dangerous situations with often little oversight, there is greater importance to recognizing where our clothing comes from. Oftentimes people are not aware of fast fashion’s negative effects on garment workers and the environment. Grace Von Lehman, a student at DePaul University, has a unique perspective on fast fashion because she grew up in an environmentally-conscious family and ran an Instagram account highlighting more sustainable clothing practices. Grace says that “consumer power only goes so far. It’s important to have conversations to learn about what we're using and where it comes from.” Additionally, Annie Wu, a student at Walter Payton College Prep, says, “the real problem is how fast fashion promotes overconsumption. It wouldn’t have that large of an environmental effect if its demand was lower. Since fast fashion is cheap, people continue to buy more and more of it and to keep on trend.” Shedding a light on companies and important sustainable lifestyle changes through social media or schools can be a potential solution. Those interested in learning more about fast fashion can learn more by reading Kelsey’s Timmerman’s book, “Where Am I Wearing?” , listening to the Unfiltered Fashion Talks podcast , or exploring the Fashion Revolution website . By learning more about the inner workings of fast fashion, consumers can be more aware of their purchase decisions and how this may be impacting the world around them. Even making one better purchasing decision and being open to learn about other choices can be a great first step!

After the pandemic there has been an increase of interest in opening a business. “About 60% of teenagers are more interested in someday starting their own business instead of working a traditional job” (Reinicke, 2022) . For some, the interest came from their desire of working for themselves rather than working under a corporation. For example Fernando Roque, a senior at MLA, who wishes to open his own lawn care business, states “I don’t want to work to make someone else get more money than what I’m getting paid for.” So if you’re one of those people, or even wanting to open your own business for other reasons, here are some advice if you have doubts. Planning to start a business, Roque has also wondered other questions that can be a worry for other and newer entrepreneurs. For instance, in a survey research by Junior Achievement and Brian Hamilton Foundation states that at least a fifth of the teens who participated worried that it didn’t fit their personality/skills (JA, 2020) . While this is a valid worry about starting a business it should still be considered for many reasons. Kate Vrijmoet, owner of necessary & sufficient coffee, got her idea to start a business for her life mission to be able to contribute to the community. Vrijmoet values good relationships, she suggests teens to “have an ability to build community”. Vrijmoet started her business to build something she thought would be necessary & sufficient for those in the neighborhood. Starting a business comes with risk, you must gain a tolerance for it. “Nearly a third of teens (29%) said their greatest concern about starting a business is that it's "too risky," (JA, 2020) . There are moments throughout the job where you are going to have to make a choice, if you don’t take risks there might be a failed opportunity that can also affect your business. Without much knowledge on how to run a business, Kate signed herself up for classes . She states “My biggest advice I can give to teen or to anyone is to invest in research.” Learn about the market you plan to work in, learn the market value of your products or services and don’t undervalue yourself. There are also different ways to start a business, so don’t limit yourself thinking there is one right way to do it.

Conscious capitalism is a concept that has gained significant popularity in recent years. It is a belief that businesses should focus on having a positive impact across society. According to this belief, businesses should work at minimizing negative social and environmental impact, building a great culture for their employees, establishing mutually beneficial relationships with employees, and maintaining good connections with other companies, while also delivering long-term profits to their investors. John Mackey, one of the progenitors of conscious capitalism, underlined the core belief of conscious capitalism by saying, “ Business has to give people enriching, rewarding lives...or it's simply not worth doing ." Traditionally, business has often been viewed solely as a way to make a profit. Of course, financial returns are an important part of any company. However, conscious capitalism expands on this. It holds that businesses should adopt a “multi-stakeholder operating system” (MSOS), wherein a company has a responsibility to all their stakeholders, including employees, customers, members of the local community, suppliers, investors, and even the environment and society at large. Kyle Chudom, a financial advisor at Morgan Stanley, believes companies following conscious capitalism should be focused on “ building a system where all stakeholders benefit, building a system that’s going to help the company and its culture over the long term .” A key pillar of conscious capitalism is profit with purpose. While profit is still important to any business, companies should have a clear mission and vision that goes beyond simply making money. Businesses that are driven by purpose are more likely to be successful in the long run, as they can create strong connections with their customers and employees. According to Mark Weimberher, CEO of EY, “long-term thinking is critical in a world of inclusive growth. Indeed, one of business’s most important contributions to society is driving sustainable, long-term growth while investing in solutions for the challenges of tomorrow.” At the end of the day, profit will still be king for many investors. However, profit-focused investors would be happy to learn that conscious, purpose-minded companies perform just as well, if not better, than the stock market at large. “ Research found that companies that operate with a clear and driving sense of purpose, beyond the goal of just making money, outperformed the S&P 500 by a factor of 14 between 1998 and 2013 ” ( Raj Sisodia , 2013). In a separate study of conscious companies, “ The 18 publicly traded companies out of the 28 outperformed the S&P 500 index by a factor of 10.5 over the years 1996-2011 ” ( Tony Schwartz , 2013). Conscious capitalism is a powerful philosophy that emphasizes the importance of purpose, stakeholder orientation, and creating value for all. It is a way of doing business that goes beyond just making a profit and instead focuses on creating a better world for everyone. As John Mackey said, “ Businesses have a responsibility to give people enriching, rewarding lives. By embracing conscious capitalism, businesses can do just that .”

As more companies strive for market expansion, the future of marketing lies within data-driven strategies. In recent years, the market research industry has grown immensely. “The global revenue of the market research industry exceeded 76.4 billion US dollars in 2021, growing more than twofold since 2008” ( Statista Research Department, 2022 ). It has allowed companies to market more efficiently as data can guide them toward their target market. By conducting market research, businesses can identify areas where there is unmet demand or needs that are not being adequately served. This could lead to the development of new products or services that meet these needs, providing businesses with a competitive advantage to better understand their target market. By collecting data on customer preferences, behaviors, and attitudes, businesses can tailor their products or services to better meet the needs of their customers, leading to increased customer satisfaction and loyalty, as well as higher sales and profits. Companies like New America have applied this in the various projects. Meegan Dell, the project manager of Get My Payment, and her team reached out to people who needed their stimulus checks during the pandemic. Through data, geographical locations were mapped to show different measures of need to find the target market: people who were employed but were struggling financially. Meegan shares, “we were able to look at the living conditions of these areas and put less TV ads in areas lacking internet access and use billboards instead”. The implementation of data-driven market research strategies enhanced the effectiveness of their projects. Just like her team, many other companies have begun to implement market research by hiring market research analysts, a new growing field. Fathima Shaikh, an Entrepreneurship Intern on the Marketing Team at On the Money, shares, “Through market research, we were able to reach our target audiences to fit into our budgetary restrictions, which increased the effectiveness of our marketing.” The expansion of market research lies in the near future as “employment of market research analysts is projected to grow 19 percent from 2021 to 2031, much faster than the average for all occupations.” ( U.S. Bureau of Labor Statistics ).

Approximately 37.9 million people in the U.S. live in poverty (Lee, 2023) , and this number is growing every year. Have you ever wondered what challenges those people face when trying to escape poverty? People who do not have a bank account and need to borrow money quickly have to rely on payday loans or pawn shops. While these options seem like an easy deal, they charge sky-high interest rates, which dramatically increases the final payment that the debtor has to pay. However, there is an alternative for borrowing money safely: use a bank. Low-income individuals often have to rely on payday loans and pawn shops because they need a short-term loan to pay for necessities or because they do not have access to a traditional bank account. According to Brent Adams, co-author of the Predatory Loan Prevention Act and Senior Vice President of Policy and Advocacy at Woodstock Institute, “Pawn shops continue to charge up to 243.3% interest even though the Predatory Loan Prevention Act set a rate cap of 36% on consumer loans” (Adams, 2023). Ultimately, these fees halt people from gaining financial freedom. However, an alternative to borrowing from these high interest rate sources is to register for a bank account. About 5.9 million households in the U.S. are not enrolled in banking (Sweet and Hendrickson, 2022) . A movement called BankOn ensures access to safe and affordable banking for those who are unbanked. The goal is for banks and credit unions to have safeguards in place so people do not overdraft their accounts and there are no excess fees when a cardholder overdraft. As stated by Paige Diner, a principal at the CFE Fund who works with BankOn, “Overdraft fees can be very predatory, which causes people to get into a debt cycle” therefore “having a negative experience with the banking system,” however, “not having a bank account can be very detrimental to somebody’s financial goals.” When you don’t have a bank account, you have to rely on other methods for monetary exchange that charge unnecessary fees, but signing up for a bank account allows you to borrow money at lower rates and will have major benefits for the rest of your life.