Every few weeks we share with you three things that we’re taking note of – from pop culture to communications’ trends to relevant mergers and acquisitions, helping you think about how to tap into the cultural zeitgeist. Hopefully this helps you stay in the know and at the top of your game.
Women’s Sports Sponsorships are on the Rise Brand deals for female athletes and teams grew 20% year-over-year in 2022, according to deal tracking platform SponsorUnited. One key driver of this growth is the continued rise of social platforms, where the engagement rates of female athletes outpace their male counterparts. “In recent years, attendance, viewership and social engagement for women’s sports and athletes has spiked, leading to long-overdue financial backing through investments and sponsorships that are visibly paying off and should only continue to accelerate,” said SponsorUnited CEO Bob Lynch. Our takeaway: Fans have the power to diminish the wage gap between male and female athletes. The best way to support your favorite teams/players is follow them on social media, engage with their posts and watch the games in-person or online. Additionally, this is a great opportunity for companies looking to show up in their communities to choose a local women’s team to sponsor.
The GIF is Out “Gif” or “Jif”? We may not have to debate the pronunciation of these tiny, looping files much longer. GIFs rose to prominence in the early 2000s thanks to the adoption of fast-speed internet, the increasing use of messaging apps, tumblr and the spread of meme culture. By 2012, they had become so widely-used that the word “GIF” was named the Oxford Dictionary Word of the Year. GIF-searching features were added to Facebook, Twitter, and iMessage, making it even easier to find one to express whatever emotion you wanted to convey without words. And that’s where it all went wrong for the GIF. As older adults became familiar with GIFs through the new, accessible libraries attached to essentially every app, GIFs were labeled as “embarrassing” and “cringe” by Gen Z. Our takeaway: Consider your audience before adding that GIF to your presentation deck.
Mourning the GIF? Take a walk down memory lane, check out The 100 Greatest GIFs Of All Time here.
Consumer Spending Trends this Thanksgiving Thanksgiving may be a holiday focused on food, but with inflation continuing to rise, irregularities with supply chains and a turkey shortage looming, consumers are having to make tough decisions and find creative ways to reduce spending while celebrating this year. Here are three key trends that are unfolding as Turkey Day approaches:
1. Consumers are shopping earlier Due to inflation and an avian influenza that has reduced the turkey population by 2.5%, consumers are shopping earlier in hopes to secure their Thanksgiving Turkey.
2. Consumers are using their budget wisely Due to supply chain issues, turkeys will cost more. In order to combat this price increase, consumers are looking to save in other areas on their menus. Many consumers will skip costly and time consuming side dishes that require multiple ingredients in favor of simple, seasonal vegetable sides such as balsamic Brussels sprouts and roasted carrots.
3. Consumers are willing to spend more After 2+ years of COVID, people are excited to celebrate in person with their loved ones again. Shoppers are taking extra steps to try to save money compared with previous years, but at the end of the day, they are willing to pay more to make the day special.
Our takeaway: If you plan to serve turkey, shop early and be willing to spend more on it than last year. If you find yourself at a turkey-less table, go easy on the host and be thankful for time with family and friends.