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.
MacKenzie Scott donated $436 million to Habitat for Humanity International and 84 of its U.S. affiliates – the largest publicly disclosed donation from the billionaire philanthropist since she pledged to give away the majority of her wealth in 2019.
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Reshma Saujani, the founder of Girls Who Code and author of "Pay Up: The Future of Women and Work (and Why It's Different Than You Think), joined Cheddar to discuss the many challenges for women in the workplace after the upheaval caused by the pandemic and the solutions she presents.
Companies are leaning towards hybrid workforces due to the pandemic as a means of bringing back workers to the office — especially women employees. Head of HR technology at Capital One, Maureen Jules-Perez, joined Cheddar News to talk about initiatives and technology that the bank is taking to set up a successful hybrid workplace. "Do we have the experiences or the spaces for everyone to feel belonging or included? Do we feel heard? And of course, when it comes to building products, we have all the different, diverse perspectives and thoughts and ideas being incorporated to have the optimal solution or delivery," she said.
Hate crimes from the start of 2022 against Asians reportedly more than doubled compared to 2021, according to the NYPD. Amid the surge of attacks, Amber Reed, the president and co-founder of the grassroots organization AAPI Montclair, joined Cheddar News to talk about how it's looking to help Asian Americans with classes and techniques to defend themselves. “We're seeing racism literally killing people who look like us, and these self defense classes are a chance for us to rewrite a narrative of victimhood into one of empowerment," she said. "We learn first how to be aware of our surroundings because we know that being distracted, appearing weak can make you a target, and then that we focus on disengagement."
Sunny Balwani faces allegations of defrauding investors and patients. He's been charged with several counts of wire fraud and conspiracy to commit wire fraud, with each carrying a penalty of up to 20 years in prison. Cheddar News sat down with Andrey Spektor, partner at Bryan Cave Leighton Paisner and former federal prosecutor, joins Cheddar News to discuss.
