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.
Sports betting has boomed over the past year; but at the same time, sports betting stocks have not been so hot. Now, some sports betting brands are starting to rethink how to spend their money, especially when it comes to ads. It will come after online sports betting brands spent more than $320 million on advertising in 2021, up 38% from 2020, per MediaRadar. Brendan Coffey, sports finance reporter for Sportico, joins Cheddar News' Closing Bell to discuss.
Rowing-machine maker, Hydrow, raised $55 million in Series D funding round, led by Constitution Capital. Hyrdow offers a connected rowing machine that costs $2,495. The company's funding round comes as the at-home fitness industry is facing some challenges, due to many consumers returning to gyms after working out at home during the pandemic. Bruce Smith, founder & CEO of Hydrow, joined Cheddar News' Closing Bell to discuss.
Aviation expert Sally Gethin joined Cheddar News' Closing Bell to discuss the latest on the crash of a Boeing 737-800 NG in China, as investigators look for a reason for the sudden nosedive, and search for any sign of the 132 passengers onboard.
People can't get enough of 'The Dropout' and 'Inventing Anna.' Zoe Clews, founder of Zoe Clews & Associates, joins Cheddar News to discuss why people are obsessed with scammer narratives.
The popular video game franchise "Halo" is set to debut as a streaming TV series on Paramount+, and cast members Olive Gray and Yerin Ha joined Cheddar to talk about bringing the Xbox shooter to life in a new medium. "I think it's really just a story about humanity and hope," said Ha. "And I hope that people can really go along that journey and feel it, feel the love that we put into it."
Comedian Hannah Berner joins Cheddar News to discuss her career in stand-up and on social media, her wedding plans, and answers our 'berning' questions. "I think it's important to not have too clear a plan of what you want to do in life," she said. "You don't know what app is going to be popular in two years. So I just go by — I don't wanna be woo woo, but the energy, what makes me happy, what brings me joy."
As the Russian invasion of Ukraine continues, Ukrainian President Volodymyr Zelenskyy has assumed the role of an unlikely hero. Donning his iconic green t-shirt, the Ukrainian Leader has been praised for his relatable look and unique war-time approach as support pours in for his country under attack. Melinda Haring, deputy director, Eurasia Center, Atlantic Council joined Cheddar's Opening Bell to discuss Zelenskyy's rise from comedian to a leader on the world stage.
Turkish media reports say a second superyacht belonging to Chelsea soccer club owner and sanctioned Russian oligarch Roman Abramovich has docked in a resort in southwestern Turkey.
Catching you up on what you Need to Know on Mar 23, 2022, as NATO meets in Brussels to discuss Ukraine, mortgage rates rise, Justin Trudeau is set to lead Canada until 2025, tornadoes sweep through Louisiana, California may do away with SATs, and a Starbucks in Seattle unionizes.
