PSFK
{{short description|Media company based in New York City}}
{{Infobox company
| name = PSFK
| logo = PSFK logo.png
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| trade_name = PSFK
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| type = Limited Liability Company
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| industry = {{Unbulleted list|Publishing|Market Research|Business Consulting}}
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| foundation = 2004
| founder = Piers Fawkes
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| location_city = New York, New York
| location_country = United States
| locations = 1
| area_served = International
| key_people = {{ubl|Piers Fawkes (Founder, President)|Hedyeh Parsia (COO)|Jeff Weiner (Partner)}}
| products = {{Unbulleted list|Future of Retail Report|PSFK iQ}}
| brands = Retail Innovation Week
| production =
| services = Market Intelligence, Conferences
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| owner = Piers Fawkes
| num_employees = 25
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| homepage = {{URL|http://www.psfk.com/}}
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PSFK is an American media company located in New York, New York. The company follows and reports on trends.
History
PSFK examines trends in major corporations. The company does innovation research for corporate clients to determine trends and consumer behaviors. PSFK offers corporations the market research platform, weekly newsletters, and retail innovation strategy including trends research and store design. The retail strategy firm also has a library of many trends research reports.
It was founded by Piers Fawkes in 2004. The name is from the mixed initials of Piers Fawkes and his friend Simon King.{{cite web|url=http://fullforms.com/PSFK|title=PSFK definition|website=Fullforms.com}} Fawkes ran his own website with a blog. He relocated from London to New York and started covering technology and other trends on his blog, which formed the basis for PSFK.{{cite web|last1=Vella|first1=Matt|title=Meet the future of consulting|url=http://fortune.com/2011/12/21/meet-the-future-of-consulting/|website=Fortune|accessdate=31 July 2014}} He worked as a dog walker and other odd-jobs until he started his startup.{{cite web|last1=Groth|first1=Aimee|title=The Best Way To Test Yourself Is To Start From Nothing |url=http://www.businessinsider.com/piers-fawkes-psfk-2013-5|website=Business Insider|accessdate=31 July 2014}} His first client was Anheuser-Busch. They had seven employees as of 2011. Clients include Coca-Cola, Target Corporation, BMW and Procter & Gamble.
In 2009, PSFK created a list of the top 10 most "inspirational brands," which included Google, Apple, Zipcar, and other major consumer companies. They gathered the list by reviewing the blogs that PSFK had written over a period of time and then had a panel of specialists review the subjects to create the list.{{cite web|last1=Patel|first1=Kunur|title=PSFK Ranks Top Inspirational Brands|url=http://adage.com/article/goodworks/marketing-psfk-ranks-top-inspirational-brands/138395/|website=Ad Age|publisher=Advertising Age|accessdate=31 July 2014}} They publish The Future of Retail report annually, which covers trends and documentation about retail sales. Trends they have reported on include circular supply chains,{{Cite web |title=The circular supply chains of the future |url=https://nrf.com/blog/circular-supply-chains-future |access-date=2022-06-10 |website=NRF |language=en}} chat-bots,{{Cite web |date=2022-05-26 |title=Chatbots to make online banking efficient and more personalised |url=https://www.verdict.co.uk/rise-banking-chatbots/ |access-date=2022-06-10 |website=Verdict |language=en-US}} Generation Z,{{Cite web |last=Salfino |first=Catherine |date=2020-01-09 |title=Those Pesky Kids Are Showing Up—and They Want Sustainable Clothes |url=https://sourcingjournal.com/topics/lifestyle-monitor/millennials-gen-z-sustainable-clothes-psfk-social-environmental-microplastics-189021/ |access-date=2022-06-10 |website=Sourcing Journal |language=en-US}} metaverse and retail store technology.{{Cite web |title=Study: Stores aren't providing the tech innovation customers want |url=https://chainstoreage.com/study-stores-arent-providing-tech-innovation-customers-want |access-date=2022-06-10 |website=Chain Store Age |language=en}} Their researchers also focus on omnichannel concepts in which customers that have a seamless experience across different “channels,” like social media, phone and in a physical store.{{Cite news |last=Gomelsky |first=Victoria |date=2021-06-18 |title=What's Next for Watches? |language=en-US |work=The New York Times |url=https://www.nytimes.com/2021/06/18/fashion/watches-future-predictions.html |access-date=2021-06-21 |issn=0362-4331}}
In 2011, PSFK partnered with former Vice President Al Gore's Climate Reality Project to host a competition seeking video games that could help combat climate change. The results of the partnership were announced at a "Gaming for Good" salon in New York City. The idea grew out of a PSFK report on "The Future of Gaming."[http://www.treehugger.com/environmental-policy/one-day-video-games-will-beat-climate-change.html]
The company offices were located on Bond Street in New York City. In 2013, the company had 15 employees. The majority of their revenue comes from consulting, with the rest coming from conferences, special events,{{Cite web |last=Binns |first=Jessica |date=2019-01-24 |title=Why Former eBay Retail Innovation Head Says Kiosks Hold "Great Opportunity" for Stores |url=https://sourcingjournal.com/topics/technology/oaks-labs-healey-cypher-zivelo-psfk-future-retail-kiosks-136111/ |access-date=2022-06-10 |website=Sourcing Journal |language=en-US}} retail strategy reports, consumer research surveys and newsletter advertising.
Reception
Fortune called PSFK a "21st-century re-boot" of McKinsey & Company. However, "despite its impressive client list and growing capabilities it's unlikely that PSFK will threaten McKinsey".