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.
As half a million Ukrainians fled when Russia invaded its neighbor, some civilians chose to stay in harm's way. Igor Gamaniuk, a 17-year-old Ukrainian college student, joined Cheddar News to talk about his decision to remain in his beloved country and volunteer to support soldiers with food, clothing, and supplies. "Right now people are pretty calm in my town. We are trying not to panic. But we have to be cautious because every day and every night the siren could sound and we have to move away from the window or go to the nearest shelter," Gamaniuk explained.
A hospital basement in Ukraine’s coastal city of Mariupol has transformed into a bomb shelter and maternity ward amid shelling during Russia’s invasion.
To kick off Women's History Month, Luminary will be hosting its first annual #InThisTogether Summit. Cate Luzio, founder and CEO of Luminary, joins Cheddar News to discuss the event.
President Biden says the union is strong, Russia is attacking civilians, and Mardis Gras returns! Here is all you Need2Know for Wednesday, March 2, 2022.
World leaders are currently dealing with a handful of pressing issues, including Russia's invasion of Ukraine, inflation, and not to mention the COVID-19 pandemic; but it could be argued that the most pressing issue is one that has experienced its fair share of neglect in the past -- climate change. As tensions escalate between Russia and Ukraine, there is fear the focus on climate will once again be pushed aside. However, the White House appears to be making some effort to prevent that from happening. The White House Office of Science and Technology held a first-of-its-kind roundtable discussion with some of the nation's leading climate scientists on Thursday. Michael Mann, Director of the Earth System Science Center at Pennsylvania State University, and author of the book 'The New Climate War' joins Cheddar News' Closing Bell to discuss his experience as one of the climate scientists at the White House event.
U.S. stocks rebounded to end higher on Thursday after President Biden announced new sanctions against Russia following the country's attack on Ukraine. The Dow was down 859 points at its lowest point of the session, before ultimately finishing the day in the green. Melissa Armo, founder and owner of the Stock Swoosh, joins Cheddar News' Closing Bell to discuss.
Professional golfer Phil Mickelson issued an apology this week after facing backlash over comments he made in support of a golf tour backed by Saudi Arabia. The proposed golf league is called the Super Golf League and is funded by the Public Investment Fund, the financial arm of the Saudi government. Mickelson faced criticism after seeming to imply that he was willing to overlook the Middle Eastern country's human rights record in order to create a league that would rival the PGA Tour. David Salituro, PGA sportswriter for fansided.com, joins Cheddar News' Closing Bell to discuss.
HearHere bills itself as a mobile audio entertainment app for road trips. The company just announced $3.2 million in seed funding led by Camping World, a retail company that sells recreational vehicles and camping supplies. HearHere's GPS-powered app offers over 8,880 stories across the continental U.S. and serves up the stories based on a users' geographic location and interests. The stories are narrated by some big-name celebrities including actor Kevin Costner, who is a co-founder of the company. Woody Sears, co-founder and CEO of HearHere, joins Cheddar News' Closing Bell to discuss.
