|
|
|
|
|
Corporate Anxiety Funds an Industry of Gen Z Translators; Constellation Lowers Outlook Again; Paramount Brings the Free Press Inside the Tent
|
|
|
|
|
|
Good morning. Today, brands need youth insights and Gen Z is there for it; a pullback among Hispanic shoppers continues; and Bari Weiss returns to legacy media.
|
|
|
|
From left, Bryant Lin, Gia Lee and Celine Chai set up NinetyEight as a Gen Z marketing strategy and insights agency after graduating from college into a tough job market. Photo: Owen Scarlett
|
|
|
|
Brands that fear for their survival unless they can connect with young people are fueling a boom in the business of Gen Z translation, Katie Deighton writes for CMO Today.
Luckily for marketers and the specialist agencies springing up to track them, Gen Z shows a preternatural willingness to share feedback with companies.
Celine Chai, Gia Lee and Bryant Lin founded NinetyEight—named for the year of their births—after graduating from Loyola Marymount University’s advertising program just as the pandemic put marketing hiring on ice.
Clients pay for qualitative research, surveys, focus groups and interviews with a pool of enthusiastic respondents that the agency calls the Koi Pond.
“People write paragraphs,” Chai said. “I don’t think people try as hard in school.”
|
|
|
Content from our sponsor: Deloitte
|
|
Mars Wrigley CMO: Curiosity, Creativity Fuel Innovation
|
Gabrielle Wesley, CMO of Mars Wrigley North America, emphasizes the importance of curiosity, whether in developing talent, fostering innovation, or learning from failure. Read More
|
|
|
|
|
|
|
|
|
Constellation recorded $2.48 billion in net sales in the second quarter, down from $2.92 billion the year before. Photo: Justin Sullivan/Getty Images
|
|
|
|
Constellation Brands posted lower second-quarter sales and lowered its full-year earnings outlook again as its core Hispanic demographic continued to buy less beer amid the Trump administration’s immigration crackdown, Nicholas G. Miller reports.
The owner of Modelo, the top beer brand in the U.S., had already cut its full-year guidance last month, saying consumers and in particular Hispanics were making fewer shopping trips and cutting spending.
That followed its warning earlier this year that immigrants were having fewer social gatherings and were shifting away from convenience stores and bodegas toward larger retail chains in order to blend into a crowd.
And analysts have said that some immigrants are avoiding liquor stores in order to avoid showing identification.
On Monday, Constellation reported a 7% decline in beer sales for the second quarter and a 19% drop in organic net sales for its wine and spirits division.
|
|
|
|
|
The role of change agent at CBS News marks a return to legacy media for Bari Weiss, who resigned from the New York Times five years ago with a blistering kiss-off. Photo: Catalina Kulczar for WSJ
|
|
|
|
Bari Weiss spent her first day at CBS News speaking in meetings with senior executives and top producers, some of whom are wary of an outsider coming in with a broad mandate to shape editorial coverage, Joe Flint writes.
Weiss is the new editor in chief of CBS News after Paramount struck a $150 million deal to buy the Free Press, the news and opinion site she founded in 2021 as a check on what she considered the media’s “woke” orthodoxy.
She said she and Ellison both want “news that reflects reality” and journalism that “doesn’t seek to demonize, but seeks to understand.”
Allan Dodds Frank, a former ABC News and CNN correspondent, expressed concern that Weiss would serve as “an ideological policewoman” at CBS. “If she relies on ideologues rather than veteran TV newspeople, the mechanics of running the place will overwhelm her,” he said.
More: Follow Bari Weiss’s journey from a New York Times resignation to a top TV news gig. [WSJ]
|
|
|
|
“I don’t call this a ‘trend’ anymore—it’s a whole new thing.”
|
— Din Allall of the Nuts Factory on Dubai chocolate, whose texture, dimensions and sweetness are beginning to influence other kinds of confection
|
|
|
|
|
|
The WSJ CMO Council Summit
|
|
|
This Nov. 18 and 19, CMOs will gather in New York for The WSJ CMO Summit to explore fan-fueled growth, AI in marketing and the evolving CMO–CEO partnership. Join the CMO Council and be part of the conversation shaping the future of marketing leadership.
Request Invitation
|
|
|
|
|
Ralph Lauren’s finance chief said the decision to stockpile wasn’t made lightly. Photo: Bing Guan/Bloomberg News
|
|
|
|
Stores that stockpiled inventory to get ahead of tariffs now risk having to discount the surplus if holiday shoppers pull back on spending. [WSJ]
The Securities and Exchange Commission has been looking into data collection practices at the mobile tech company AppLovin. [Bloomberg]
An association of Round Table Pizza franchisees is studying the brand owner’s use of its marketing fund after missed payments disrupted advertising for several months, the group’s lawyer said. [Restaurant Business]
How the kitchen appliance brand Ninja is angling to appear on more gift guides and wish lists like baby registries. [Modern Retail]
Melanie Babcock was named to the newly created position of chief marketing and growth officer at 1-800-Flowers.com. [Brand Innovators]
Michelle St. Jacques, the chief commercial officer of Molson Coors. and its former CMO, is leaving the company. [Brewbound]
|
|
|
|
|
|
|
|
|