Last week, a group of leading Asian American executives launched the Asian American Foundation, an organization aimed at increasing opportunities for Asian Americans and Pacific Islanders (AAPI) and putting a stop to anti-AAPI violence and discrimination. The foundation’s board pledged $125 million—the biggest philanthropic commitment ever made in support of AAPI groups and causes—and a range of partners (including McKinsey) together pledged another $125 million.
A 2019 McKinsey analysis showed that Asian leaders made up just 3 percent of Fortune 500 CEOs—half the Asian American share of the US population. To advance workplace equity, organizations should start by tracking representation along the promotion pipeline, identifying where there are drop-offs, and asking why those drop-offs are occurring. Experiences can vary significantly across subgroups—which means collecting disaggregated data can yield important insights.
Source: McKinsey & Co, May 12, 2021 #stopasianhate
An inaugural group of leading national CEOs and organizations from across business, nonprofit, philanthropy, and academia have come together to combat the racial wealth gap with the launch of NinetyToZero. Driven by the goal to transform the economic landscape that has led to a 90% racial wealth gap between white and Black Americans,
NinetyToZero seeks to bring deliberate, collective action to counteract centuries of discrimination, segregation, and financial exploitation -- so that all Americans have the opportunity to thrive. Closing the racial wealth gap could increase the U.S. GDP by $1.5 trillion in the next 10 years.
Source: NinetyToZero You can view the announcement here: https://tinyurl.com/nt2mczy8
Violence and hate speech against Asians and Asian Americans have increased sharply since the start of the coronavirus pandemic, but unfortunately the United States has a long history of marginalizing and othering people of Asian descent.
The insightful and though-provoking documentary series Asian Americans was first presented in 2020. In light of recent events, PBS is now streaming all episodes for free.
Celebrate #BlackHistoryMonth - discover new perspectives and deepen your knowledge by checking out Comcast NBCUniversal's Voices of the Civil Rights Movement platform. Launched in 2013 to commemorate the 50th anniversary of the March on Washington, today the project presents more than 17 hours of gripping firsthand accounts, historical moments and stories submitted by the public .https://voicesofthecivilrightsmovement.com/
In honor of #BlackHistoryMonth, let’s celebrate the innovations of America’s Black #entrepreneurs. This PBS series, first aired in 2019, highlights the achievements of inventors, business builders and executives of African descent. You can stream many episodes now at https://lnkd.in/gdFP2ac
When I first wrote about Pop Up stores in 2009, I noted these temporary brick & mortar locations as responses to important market trends - widespread recession driven retail vacancies and the launch of unique fashion brands such as Gucci sneakers and Rachel Roy.
Nearly eight years later, as more shopping increasingly takes place online - at Amazon.com, Walmart.com or the virtual world of your favorite mall-based retailer - Pop Up stores are providing shoppers and brands with important opportunities to connect.
Some thoughts for marketers:
There is growing evidence that consumers are becoming less interested in conspicuous consumption. From Millennials, who are (sometimes unwillingly) slow to launch their own independent households to Baby Boomers who are downsizing into smaller, more urban locations to the growing impact of Mari Kondo’s KonMari method of decluttering - living with less is an important new cultural trend.
Coupled with this trend away from consumption of stuff is the trend toward using our time and money for Experiences. You can look to social media - when was the last time a friend shared an image of a new purchase, such as a car or house? Yet our newsfeeds are full of pictures of exotic trips, restaurant visits, concerts and sporting events.
The new campaign from Groupon highlights this insight. The TV ads compare the “Haves” and their mansions full of gaudy stuffy and the “Have-Dones” who are engaged in life through experiences like sky-diving, dining out, getting spa treatments or visiting a fun-park. In a press release for the campaign launch, Vinayak Hegde, Groupon’s CMO highlighted that this new focus is based on research findings that experiences been scientifically proven to make consumers happier.
Two immediate takeaways from the new campaign:
Instigated by the frenzy of commercials and promotions, shoppers often wonder “am I getting the best deal?” In a tongue-in-cheek campaign, appliance retailer hhgregg captured this anxiety as FOBO (Fear of Better Offers.) Zimmerman, the agency behind the campaign, said the idea came from “research that found millennials currently experience feelings of fear that better options may exist elsewhere.” hhgregg is positioned as the solution.
And for those who prefer to shop Cyber Monday? As noted in last week’s NYTimes, new apps like ShopSavvy allow users to compare prices for items in brick & mortar retailers versus Amazon and other online outlets “ all in search of the best deal.”
Some questions for marketers:
While the world’s elite athletes are competing for medals in Rio de Janeiro, a battle for viewers is being waged by cable and broadcast networks, social media and streaming platforms.
One of the key properties Comcast gained with its 2011 purchase of NBCUniversal was the rights to air the Olympics games in the US. And now Comcast, through its Xfinity cable subsidiary is leveraging new platforms and apps to engage subscribers with Olympics content. As cord-cutting increases, Comcast is looking to upgrade current subscribers as well as entice new users with exclusive Olympics content available only through their partnership with the USOC. NBCUniversal now has an exhaustive schedule of Olympics viewing across NBC, MSNBC, Telemundo, USA, Bravo and more through the X1 application.
In a bid to reach cord-cutters and mobile users, Google has dispatched YouTube stars such as Liza Koshy, Brodie Smith, Ben Brown, Caeli, Chloe Morello and Felipe Castanhari to livestream parts of the games and special events in host city Rio. Google is leveraging content from these Creators into search, maps and mobile applications to increase engagement. YouTube is also offering subscribers an IOC channel to increase visibility beyond US-centric users.
Not to be left out of the mobile/streaming wars, Facebook and Instagram have partnered with NBC to create a Social Media Command Center with access to NBC commentators and behind-the-scenes video.
Early reports indicate that live viewership for the Olympics is down versus the 2012 London Games. Some are faulting excessive commercial breaks and ongoing concerns about Rio’s preparedness for the games. But with so many options, are viewers choosing to engage with the 2016 Olympic Games in other ways rather than just live TV?
Some thoughts for marketers:
Cheryl A. Seraile an Omni-channel Marketing & Strategy Maven, with a passion for uncovering new trends and insights about consumers, demographics, culture and the world.