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.
According to the latest report from the UN, several countries around the world are "nowhere near" towards their goal of limiting gas emissions. This report comes ahead of the COP26 which is slated to take place in the month of November in Scotland. Senior Advisor at CDP Paula Diperna, joined Cheddar to discuss what the report highlights and what this tells us about the future plans of the Paris Climate Agreement.
New details surrounding the deadly shooting that took place on the production set of "Rust" have now emerged. According to sources close to the matter, hours before the set several crew members walked off set over safety concerns. Senior Editor at Variety and host of the "Just for Variety" podcast Marc Malkin along with Certified Firearms Instructor and Founder of The Reload Stephen Gutowski, joined Cheddar to discuss more.
Jill and Carlo cover the news out of Facebook's latest earnings, Tesla's monumental day, Dave Chappelle addresses controversy and the tragedy of the climate emergency.
Edtech startup ENTITY Academy raised $100 million in its latest round of funding. The company's platform offers tech training to women via online courses, in areas like data science and software development. The courses include mentoring and career coaching from people working in the tech industry. ENTITY Academy's founder and CEO Jennifer Schwab joined Cheddar News' Closing Bell to talk more about the company and the funding.
LendingTree's latest survey found that parents and Gen Zers are the most likely to overspend on Halloween this year. Brianna Wright, a senior consumer research specialist at LendingTree, joined Cheddar to discuss what exactly consumers are splurging on this spooky season and how to carve out room in your budget to celebrate.
Connor Franta, YouTube star and author of 'House Fires,' joins Cheddar News to discuss his latest book which is a collection of essays, photos, and poems about dating, sex, relationships, mental health, and so much more.
Zaire Wade and Jalen Newsome, Co-founders and Co-CEOs of 'YNG DNA' join us to talk about their new NFT collection available Oct. 25 on WAX NFT blockchain.
According to new research by Twitter, the social media platform algorithm amplifies content from the "political right" rather than those on the left. The company says this data comes as the platform has been taking the time to research the implications of its algorithm and whether or not it has caused any "unknown harm". President and CEO of Media Matters for America Angelo Carusone, joined Cheddar to discuss more.
The tragedy on the set of the movie "Rust" is sparking calls for safer Hollywood film sets. Actor Alec Baldwin accidentally killed the film's director of photography and injured the director when he fired a prop gun while rehearsing a scene last week, unaware the weapon was loaded with live rounds. Tom Murray, entertainment editor of Insider, joined Cheddar to discuss how prop guns can still be very dangerous and why Hollywood has prioritized realism over safety, despite several on-set accidents over the decades.
