🏌️ Expensive Hobbies, Collectibles, and Delayed Gratification


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Let's dive in.

Collectibles as an Escape

According to Kieran Egan, the mind of children undergoes in just a few years the same development that took the human race thousands of years. One of the most important development stages is titled romantic understanding.

Previously, children think primarily in mythic terms. But this comfortable understanding of the world breaks down as they acquire alphabetic literacy. This allows them to categorize objects and they soon have to realize that everything is incredibly complex and makes little sense.

During that phase (roughly at age 10), children typically develop an insatiable appetite for collectibles. This is a coping mechanism which allows them to bring some order into the otherwise incredibly confusing world.

With this in mind, it's hardly surprising that interest in collectibles is exploding right now. Most people perceive the world as confusing and overwhelmingly complex right now. What better way to deal with this situation than to focus on a tiny part of the universe that you can fully understand and control?

Quantitative evidence comes, for example, from Reddit where communities like /r/Jordans are blowing up.

But also on Google, there is a surge in interest in terms like "PSA grading", "Trading card" , "Rookie Card".

As the world certainly won't get less confusing any time soon, investing in anything related to collectibles is certainly a great opportunity.

Golf but hip

Golf-equipment is a $5 billion industry with a small number of established brands. More importantly, it would seem as if typical golf-equipment customers don't care about low prices or cheeky commercials.

So the success of Vice Golf is truly surprising. It's a direct-to-consumer brand that grows like crazy and basically simply applied the Dollar Shave Club to the golf-equipment industry.

Their success clearly suggests that there are still many traditional industries that are ready to be disrupted by direct-to-consumer brands with modern marketing and competitive pricing.

What if there's no tomorrow?

While Covid has hit many industries hard, there are, like always, a few winners.

One of these winners is the “Buy Now, Pay Later” industry. Lots of people seem to start questioning the usual narrative that it's clever to delay gratification. Sure in normal times it makes sense, but right now? Lots of people are dying, the government is printing money like crazy and the current world order seems to be crumbling. So let's enjoy life!

This mindset shift is visible in the surging interest in startups like Affirm, Klarna, and Afterpay.

So obviously, if you're selling any consumer product, adding a "buy now, pay later" option seems like a no-brainer.

But most likely, the BNPL trend is just the tip of the iceberg and there are countless of other opportunities to benefit from the mindset shift.

Misc Signals