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Each week, Padilla’s Insights + Strategy team stands at the intersection of people, culture and brands to bring you five stories that you can read in five minutes.
1. Singles Day’s Success
Alibaba’s Singles Day event, which is held every November 11 (1111), reached $38 billion in sales. Why should you care? This event, which is a day of sales, similar to Amazon Prime Day, is held for the Chinese market. There is even a celebrity filled live telecast that lasts four hours, that was closed this year by Taylor Swift. Sales grew by 27% this year even with China’s slowing economy and the trade war with the US. The American market has started to take notice and brands like Nike and Brooks Brothers have started offering Singles Day discounts on their US sites. With the success of this year’s Singles Day, it would not be surprising to see more and more US retailers begin to adopt this anti-Valentine’s Day event.[CNN]
2. The Global Snack Food Wave
“More people are snacking now more than ever.” Why should you care? Mondelez International, the company that owns Oreos and Sour Patch Kids, commissioned Harris to create a survey about everyone’s snacking habits. 6,000 adults around the world participated. 6 out of 10 people surveyed and 7 out of 10 millennials said they preferred snacks to substantial meals. Snacking is trillion dollar market, with more than 75% of consumers partaking. All brands take note of these statistics. Brands should take note as this represents changing behaviors and attitudes that affects consumers’ daily patterns. [Yahoo Finance]
3. Smart Glasses are the next tech trend…again?
Technology companies are in a race to release the next gadget: Smart glasses that you can wear everywhere. Why should you care? Microsoft, Snap, Facebook, Google, Magic Leap and Apple are all working on creating these glasses. They are said to be like a computer you wear on your face, that may be able to replace our phones. The idea being that we can speak to the glasses and they will pull up what you are asking for. Most of these companies have already launched lesser versions of this: Snap’s Spectacles, and Google Glass. As we continue to see people searching for ways to disconnect with tech while retaining the convenience, we’ll see if these glasses play an important role. [CNBC]
4. Tis the season of Mariah Carey’s success
Mariah Carey’s “All I Want for Christmas Is You” has become the ultimate holiday season song. Why should you care? So many things have changed in consumer preferences since the song was released 25 years ago, including the type of music that is considered popular, but Mariah Carey’s song has stayed at the top of the holiday charts. In a Nielsen study, it was found that the song was played (video and audio) over 229 million times last year. To date, Carey has earned over $60 million (and counting) from the song…from streaming alone. As brands create their ads for this holiday season (and the future), the success of this hit provides a great model for doing nostalgia right. [Time]
5. “Ok, Boomer”: Gen Z vs Boomers
A meme with the words, “Ok, Boomer”, has gone viral. Why should you care? This phrase is another way of saying, “older people just do not get it”. Generation Z created the sentence to call out older adults about their opinions or lack thereof and condescending tones when talking about climate change and other (typically) progressive policies. This social media meme has brought about a larger discussion: what is it about “kids these days” that always draws the ire of older generations, no matter the generation? “Ok, Boomer” can be used as a way to join in on the social media feud, and brands who see their target as “kids these days,” whether Millennials or Gen Z should consider it, but with care. [Vox]
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