This week teens have a negative view of the news, consumers are using AI to find holiday deals, brands want to celebrate your big moments, and more.
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TRENDING
Consumer sentiment falls near record-low levels
The November level from the University of Michigan’s consumer sentiment index is just slightly above the lowest level recorded in the survey’s decades of history, which came amid historic inflation in 2022. Consumer sentiment fell to 50.3 from last month’s reading of 53.6. The survey’s director said consumers are worried about potential negative consequences on the economy, impacted by the ongoing government shutdown. Source: The Wall Street Journal
A majority of teens have a negative view of news media
According to a new report from the News Literacy Project, 84% of teens have a negative view of the news, believing that objective, fact-based news is rare or nonexistent. About half of the teens surveyed believe journalists “always, almost always, or often” engage in behaviors that are unethical, like making up quotes and other details or giving advertisers special treatment. Less than one-third of teens said journalists confirm facts before reporting. The report said these views threaten the importance of the press as a watchdog and leave younger generations vulnerable to manipulation. Source: Education Week
TECHNOLOGY
AI is not (yet) responsible for the current labor market
A Goldman Sachs survey shows AI is not overwhelmingly responsible for taking jobs just yet. While 11% of companies surveyed said they are using AI to reduce headcount, 47% said their AI strategy is more focused on fueling productivity and boosting revenue. While AI is positioned to decrease jobs, it is expected that the job losses will come as a slow drip, with Goldman estimating 6% to 7% of workers will be displaced by the tech over the next decade. Source: Axios
AI is changing the game this Black Friday
According to an Accenture Survey, 77% of U.S. consumers plan to participate in Black Friday and Cyber Monday shopping. In preparation, 46% of shoppers said they plan to use conversational or generative AI tools to find deals. Retailers are taking notice, with nearly half of U.S. retailers surveyed saying generative AI is one of the most influential trends this season, and they are pushing to create differentiated tools. Source: Forbes
BRAND
Brands are turning weddings into experiential marketing
To stand out in a social media landscape saturated with brand collabs, PR package unboxings, and other branded content, companies are increasingly turning to events tied to happiness and love: weddings. Expense platform Ramp’s October-sponsored wedding in NYC puts the brand among a growing list of companies hosting couples’ big days, alongside Hellmann’s and Whataburger. Agency execs see this approach as a way to create positive memories and connect with consumers during life’s milestone moments. Source: Marketing Brew
PepsiCo rebrands for the first time since 2001
PepsiCo unveiled its first rebrand since 2001, swapping the red and blue logo for a design that looks to reflect a broader and more health-conscious portfolio of brands. Now with over 500 brands, the company has been expanding its “better-for-you” lineup through acquisitions like prebiotic soda brand Poppi. According to the brand, just 21% of consumers are able to name a PepsiCo brand besides Pepsi. The new identity positions PepsiCo less as a cola giant and more as a lifestyle brand focused on variety and health. Source: Fast Company
SOCIAL
Social media users look to curate a “Ralph Lauren Christmas” on a budget
Budget-conscious shoppers are recreating 90s holiday Ralph Lauren “vibes” with thrifted finds and dollar store decor. Searches for “Ralph Lauren Christmas” have surged 600% on TikTok and Instagram, while Etsy searches for related items are up 180%, showing mainstream interest. Retailers are responding with guides to help consumers capture the luxe, nostalgic holiday aesthetic without breaking the bank. Source: Fortune
