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.
Less than 30% of consumers will apply for a store credit card this holiday season according to a recent LendingTree survey. Matt Schulz, Chief Credit Analyst at LendingTree, joins Cheddar to discuss the pros and cons to store credit cards, and how 'buy now, pay later' loans are coming into play during the holiday shopping season.
Elliot Wolf, EVP of Digital at Wolf Entertainment, and Ben Arnon CRO at Curio, join Cheddar News to discuss the new NFT project called the Wolf Society.
Darnell M. Hunt, Dean of Social Sciences at UCLA an co-author of UCLA's Hollywood Diversity Report, joins Cheddar News to discuss how the latest report reveals TV content from diverse writers and with diverse casts resonated with pandemic audiences.
Tony award-winning actress Anika Noni Rose joined Cheddar's "Between Bells" to discuss the upcoming third season of the podcast, Being Seen. As Rose's first time hosting the series, she explained that it was important for her to do so to offer a unique perspective potentially with the power to change narratives. "We have the ability in our media and our entertainment to change the space in which Black women are seen, to change the narrative of the strong Black woman, and to show a more humanistic view of Black women and Black femmes that will bring people to an understanding and a connection that maybe they didn't otherwise have," she said. Rose also touched on her role in the Netflix series "Maid."
Paid family & medical leave is left out of President Joe Biden's Build Back Better domestic policy plan. Abby Vesoulis, reporter for TIME joins Cheddar News to breakdown what this means for Americans.
Oatly Chief Sustainability Officer, Ashley Allen joins Cheddar News to talk about food waste and hows its been left off the table in the upcoming COP26 agenda. Ashley will be on the ground at COP26 and advocating for this conversation to get the attention it deserves.
Carlo's flying solo today, talking COP26 and climate change, another racially charged trial gets underway, SCOTUS takes on abortion and a stunning rise in traffic deaths points to a bigger societal breakdown sparked by the pandemic.
Apple reported strong fourth quarter earnings, but sales fell below expectations. CEO Tim Cook said chip shortages and manufacturing delays cost the company $6 billion. The issues have led to the newly-launched iPhone 13 Pro being in short supply around the world, as well as to back orders for Apple's new Macbook Pro. Exponential Investment Partners Managing Partner Kevin Riley joined Cheddar News' Closing Bell to discuss.
Electric bike company Dance recently raised $19.4 million, just weeks after rolling out its e-bike subscription service in Berlin. Dance allows users to subscribe to use an e-bike for around €79, or about $91, a month. Dance says its subscription model allows the company to reuse and refurbish its products, and further its mission to build more sustainable and livable cities. Dance founder and CEO Eric Quidenus-Wahlforss joined Cheddar News' Closing Bell to discuss.
