PSFK is a trends and innovation research company based in New York City that has developed a large following online via its frequent and insightful trend and innovation updates.  PSFK’s services are unique in that, in addition to consulting provided by in-house employees, clients can choose to work with PSFK’s partners (which include Modo Group, Peep Insights, Anomaly, S3iD, and The Future Well) as well as freelancers from its network of visionaries and experts.

General History:

In 2004, PSFK made its debut in the form of a trend blog by company founder Piers Fawkes.  Once Fawkes began working with Simon King as a collaborator, the two re-branded the blog with their combined initials.
PSFK first offered consulting services in 2005.  Since then, the company’s client base has bloomed to include a wide array of major organizations.   In 2007, PSFK held its first conference series, in which trend and innovation-related topics were discussed.   PSFK’s subsequent conferences and salons have been held in large cities around the world.  2009 saw the introduction of PSFK’s Purple List, a network of experts into which companies can tap for freelance work.

Number of Locations:

PSFK has offices in New York City and London.  As it operates with an extensive network, much of its source information and expertise is generated from different locations all over the planet.

Company Leadership:

PSFK’s founder Piers Fawkes is also the company’s CEO.

Employees:

PSFK works with a streamlined base of employees in its SoHo office, additional employees in London and Hamburg, representatives in Manila, Sao Paulo and Shanghai, and a large network of experts located worldwide.

Products / Services Offered:

• Free Online Blog Posts: on trends and innovation; written by PSFK employees, experts, and associates; made available on the PSFK site as well as Twitter and via RSS
• Email Newsletter: the PSFK Daily Trends Snapshot summarizing new posts
• Inspiration Books: PSFK’s latest book is Good Ideas for 2010, which acts as an inspiration piece, not a trend report.  Previous books include PSFK Snapshot Brooklyn and Good Ideas in 2009PSFK Snapshot San Francisco.
• Brand Reports: PSFK’s latest offering, the Good Brands Report of 2009 is a discussion of leading innovative companies from the past year; it can be downloaded free of charge
• Trend and Innovation Research Consultancy Services: offering research and reporting, product and service concepting, consumer profile development, marketing strategy, innovation events and workshops, and a various of additional deliverables via partners and freelance networks (PSFK has worked with such brands as Apple, Nestle, P&G, Samsung, BMW, PepsiCo, and Target)
• The Purple List: an online network of 300-500 experts available for freelance consulting work
• Conferences: PSFK holds several conferences every year; the events focus on trends, innovation, and good ideas
• Good Ideas Salons: These panels are all about bringing local innovators together to share ideas. Good Ideas Salons are held on the third Tuesday of every month, and have taken place in cities ranging from Tokyo to Toronto
• Speaking Engagements: Piers Fawkes makes regular speaking engagements at conferences and private events

Future Strategies:

As PSFK is a relatively new company, much of its future strategy involves developing and improving its current offerings.  A large conference in New York City is in the works for April, and rest assured that more projects and events are to come.

My take on their strategic position:

PSFK is an interesting player in the trend forecasting industry because it provides creative inspiration in addition to information on trends.  In this way, the company is a great resource for clients seeking product development assistance or advice that is both creative and in sync with the contemporary zeitgeist as well as future trends.

PSFK is also in a strong position because it does not act as an island, but rather networks with other trend spotting companies and individuals around the world (via its partners and experts).  This is ideal, as any successful company in this industry will survive by communicating and sharing information, and not by hiding behind thick walls of proprietary knowledge and isolated specialists.

As PSFK grows and evolves, I think it would be beneficial to keep communication and collaboration open through continued joint salons, conferences and other projects.

PSFK may also gain from offering more formalized services or representation in areas aside from New York City.  While the company draws from an extensive network of scouts and experts, many of whom can be tapped for localized expertise, consulting or trend tours, it may be good to provide a more direct link.  This can help the PSFK have a less NYC-centric view (it is easy to get caught up in the bubble) and can strengthen the company’s position in other cities.  Doing this would not necessarily require increasing fixed costs or overhead all that much, it may only require small shifts in communication channels and focus.

Contact Information

PSFK LLC,  466 Broome Street, New York, NY 10013 USA

Switchboard: +1 646.520.4672 / email
Advertising & Sponsorship : +1 646.520.4665 / email
Business Development & Sales (US & Global): +1 646.520.4665 / email
Editorial: email
Events: +1 917.214.1265 / email
Finance: +1 917.214.1265 / email