First, it was Black Friday. Then came Cyber Monday. Then Small Business Saturday became a thing. Holiday shopping events are a marketing team's holy grail, an opportunity to change consumer behavior writ large that doesn't come around very often.
Enter Giving Tuesday, the most recent of the holiday shopping holidays ー though this one is all about altruism. Started in 2012 by the New York nonprofit 92nd Street Y, in partnership with the UN Foundation, the movement has grown to become a de facto response to the consumerism that surrounds the holiday season, in which companies and non-profits urge people to donate money or time to charity ー at least for a day.
According to predictions from the data firm Whole Whale, #GivingTuesday, as it's known online, is expected to top $500 million for the first time, a 25 percent increase from the estimated $400 million that was donated online last year. Still, that haul represents less than 14 percent of the amount of money that will be spent online on Tuesday, according to Adobe Analytics data.
Save the Children, the 100-year-old charity that works to help disadvantaged kids in 120 countries, is among the nonprofits that looks to Giving Tuesday for a portion of its annual fundraising. CEO Carolyn Miles told Cheddar in an interview that millennials still have limited awareness of the day. Save the Children is trying to leverage its relationships with brands and celebrities to spread the word on its social media accounts (and to broadcast that it is matching all donations, 1:1, on Tuesday).
The charity has partnered with red-hot designers like Gabriela Hearst, who is donating 100 percent of the net proceeds from her handbag sales to Save the Children's efforts in Yemen. Those handbags are typically only available by invite, though Hearst is opening the collection to the public this week to spur donations. There are also partnerships with Dave Matthews Band, Jennifer Garner, and the shoe brand Toms.
Many people who give want their donations to help "closer to home," Miles said, noting that Save the Children also works in impoverished communities in the U.S. as well as "all the toughest places to be a child in the world."
The charity counts on the last few weeks of the year for nearly a third of its donations, she said, which is why the awareness around Giving Tuesday is particularly important. Save the Children has an operational budget of $2.2 billion ー equivalent to the entire budget of the newly created U.S. Space Force over the next five years. Last year, it brought in a half-million dollars, the latest in a number that has been "growing every year," though it is still a fraction of the overall budget. The rest comes from corporations, foundations, individual donors and grants from the UN, she said.
Marvel's 'Eternals' blasted into theaters Friday, bringing in $71 million in its opening weekend, becoming the fourth-best debut of the year. It comes at a crucial time for the box office as theaters attempt to bring back customers after over a year of pandemic-induced lulls. Shawn Robbins, Chief Analyst with BoxofficePro.com joined Cheddar's Opening Bell to discuss the state of the U.S. box office and a return to theaters.
Paulina Likos, Investing Reporter at US News & World report, joined Wake Up With Cheddar to break down how the U.S. reopening its borders to foreign travelers might provide a big boost to the hard-hit travel and tourism industry.
Jill Wagner and Baker Machado break down the state of the Opioid Crisis in the U.S. The CDC reported a 30% increase in overdose deaths from 2020 to 2021, but in recent months pharmaceutical companies have drastically raised the price of Naloxone or 'Narcan,' affecting the response of community harm prevention groups.
Jill and Carlo discuss the scenes of joy at American airports as borders reopen, another tool in the Covid toolbox, the latest in the Astroworld crowd crush tragedy and more.
The two biggest names in the ride-sharing industry reported earnings this week. Uber and Lyft both beat Wall Street expectations on their top and bottom lines, as the companies and the ride-sharing industry have recently faced several challenges like the pandemic, the supply chain crisis, and driver shortages. Johnson Research Group CEO Chris Johnson joined Cheddar News' Closing Bell to discuss.
Gaming technology studio Mythical Games recently raised $150 million in a round led by Andreesen Horowitz, bringing Mythical's valuation to above unicorn status at $1.2 billion. Mythical Games' mission is to create a new generation of gaming with play-to-earn games that allow players to play to win actual cryptocurrency. Now the company is taking it to another level with NFT technology, allowing players to play with characters they can truly own. Mythical Games CEO John Linden joined Cheddar News' Closing Bell to discuss.
Jacob Channel, Senior Economic Analyst at LendingTree, joins Cheddar to discuss the most popular reasons to refinance a mortgage, and when the right time is to consider refinancing.
The pandemic caused chaos in the wedding industry after ceremonies were postponed last year. But now couples face a new problem as they look toward their big day: supply chain issues. Tim Chi, CEO at The Knot, joined Cheddar to provide some additional details about the supply constraints affecting everything from venues to flowers. Chi also talked about The Knot celebrating its 25th anniversary and how the business has transformed over the years.
Entertainment journalist Scott Evans joins Cheddar News to discuss his latest hosting gig on 'America's Big Deal' and play a little game with Baker called 'Deal or Dud.'
