Scott Galloway said earlier this year that “The problem with predictions is that they’re a terrible business.”

And, business is booming.

This is the time of year where predictions get thrown around left, right and center.

But, we’re not in the business of prognostication.

Like last week, I’m sharing the ideas that I scribbled on my notepad. Not necessarily predictions, but rather stuff you should think about.

I have three more for you this week.

1 – Personalization is Overrated.

Shake Shack’s founder, Danny Meyer, says it’s risky to always say “yes” to the customer. In short, near-endless personalization becomes more of a liability than an asset to the business.

Consider that at Starbucks, you can customize a beverage in over 170,000 different ways. Meanwhile, lineups are worse than at the DMV (or increasingly worse, airport security at Newark).

Moreover, endless aisles are not as alluring as they once were.

Much like being “customer-centric,” endless catering to the customer signals that a brand is running out of ideas.

(Also, I think consumers just like the idea of personalization more so than the actual thing).

In our own personal lives, we are often taught to stop saying yes all the time and be more assertive. That often starts by saying NO.

Brands should be fearless in saying no where it makes sense. Instead, take the lead.

Give the customer something compelling, set the trend and create demand.

2 – I Wouldn’t Bet On It. Or Will I?

It’s hard to watch sports on TV without being bombarded with ads for sports betting. It is a form of entertainment and fan engagement tool.

With it’s exploding popularity, I’m curious to see how the spending habits and personal finances of gamblers will evolve.

(Oddly enough, you would think that we would be talking about young men predominately. However, a 2023 NCAA survey of sports bettors unveiled that about 50% of the respondents were in fact, female).

There is emerging evidence to suggest that gamblers are pulling money from stock investments for betting. This is most prevalent in “financially strained” households. Also, these households are more likely to take on more risky investments like cryptocurrencies or riding the meme stock wave.

I wonder about what the long-term implications will be for dollar stores and other destinations for price sensitive customers. According to the WSJ, dollar store are already seeing the signs of belt-tightening from their customers.

3 – Self-Scouting

The practice of self-scouting is prevalent in sports where a team evaluates itself, instead of an external opponent.

Obviously, the purpose is to determine where you are strong and vulnerable.

I think businesses need to engage in more self-scouting. But, this goes beyond simply “shopping your business.”

Rather, I believe that activists will become more emboldened as time goes on. Whether it is an activist like Robby Starbuck who is successfully leading anti-DEI charge. Or, activist investors like the ones that are circling the wagons again around Macy’s.

My feeling is that the pressure will be turned up on all things related to sustainability. Mind you, it seems like the ball was already rolling downhill as investor support for environmental and social issues has already been waning.

Will brands and retailers be ready to handle activist pressure?

If executives and boards can honestly self-scout to understand where activists might come at them, then maybe.

Easier said than done.

Next week, I’ll share one final, in-depth scribbling for you to close out the year.