Media is moving quickly, generating stories at a rapid pace and at a faster news cycle than marketing professionals have experienced before. In order to stay relevant while pitching to media, it’s important to consider industry trends and changes in consumer behavior that are likely to dominate the news cycle and garner editorial placements. The PitchBox Media team has reviewed insights from industry experts to identify key media trends. Position your pitch to tap into these trends and elevate your media outreach strategy.
Big Brand Collaborations
In February 2022, Doja Cat shook the marketing space with a Taco Bell collaboration and again in April when she joined forces with JBL as a global ambassador. The American rapper and TikTok anomaly has redefined what collaborations could look like between brands and celebrities or brands with other brands. Power in numbers is the name of the game and many large fashion brands have changed history by following suit and embracing collaboration, like Manolo Blanhnik for Birkenstock, Disney X Givenchy, Louis Vuitton and Nike “Air Force 1,” and more. Accenture found that a successful collaboration can cut logistics costs up to 4% and manufacturing costs from 5-15%. The benefits of collaboration extend far beyond audience expansion and reducing overhead, brand collaborations create a sense of urgency for consumers to purchase and often pique the media’s attention.
Brand Loyalty Is At A Turing Point
During the pandemic, supply chain disruptions and product availability largely affected consumer purchase patterns. When it comes to consumer shopping, McKinsey found that as prices rise, consumers are less loyal to shelf brands, and may prioritize price and innovation over brand name. Of the 90% of consumers who noticed rising prices in gasoline and groceries, one-third of them stated that they have switched to private-label products when it comes to everyday essentials. Now more than ever, researchers have determined that if brands want to attract consumers and earn sales, they must combine innovation with the perception of a better value.
Christmas in July
Pinterest found that for the past two years, individuals have put off large holiday parties and soirees and replaced them with what they call “mini moments.” Now, consumers want the best of both worlds: intimate experiences like cookie parties and movie nights and big, festive gatherings which have been few and far between in recent years. Wanting it all certainly comes with a price tag, and consumers spending more than ever before to incorporate elaborate events and mini moments into their holiday budget and schedule. With the hustle and bustle of holiday happenings, Costco anticipates consumers will start the season sooner than ever before and stocked their shelves with Christmas decor in July this year. Spending is expected to reach a record high to boot. Insider Intelligence found that spending during the 2021 holiday season was some of the highest in 20 years, leaping more than 16% from 2020. Holiday spending in 2022 is expected to exceed 2021 by 3.3%, landing at $1.262 trillion.
Attractions + Experiences
McKinsey found that, although inflation is rising and there is concern the US is headed for a recession, consumer purse strings have never been looser. The justification? We just came out of a pandemic – there are places to go, people to see, and things to buy. With traveling and the holidays ahead of us, Kathy Bosjancic, chief US economist at Oxford, shared with the Washington Post, that after two years at home, consumers have shifted from purchasing goods to purchasing experiences. 74% of Americans have expressed that their interests in spending have changed over the past year, and searches for events, shows, and cultural attractions are up 86 percent. While we are not back to pre-pandemic normalcy just yet, Bosjancic believes these trends suggest we are on the right track.
Video Content Reigns Supreme
According to Hootsuite, 24% of marketers found that TikTok was the most effective platform for reaching business goals. We know that video content resonates, and TikTok’s short form video format mirrors the short attention span of consumers today. Instead of a perfectly staged product photo, consumers can relate to video produced in a messy kitchen with casual attire and less-than-ideal lighting, demonstrating how a product could be used in real life. As a result, developers are creating opportunities for brands to integrate their online storefronts and offer in-app purchases, meeting consumers where they are – on social media. Instagram Storefront, Amazon Storefront, and tools like Linktree and LIKEtoKNOW.it are just a few examples of how platforms drive sales for products featured in video content.
AI Enters The Chat
Online shopping has exploded as of late, forcing brands to level up the way they interact and engage with consumers at the point of purchase. Tools such as augmented reality, virtual reality, and artificial intelligence present exciting opportunities for brands to reimagine the customer experience and thrive in a digital space. Home furnishing brands like Ikea have implemented augmented reality technology that allows shoppers to scan their homes and virtually create an entirely reimagined space. This presents an innovative, interactive experience for the consumer while helping brands move the needle when it comes to sales. Consumer goods are not the only brands tapping into tech, travel and tourism are plugging into these tools to drive sales as well. Regiondo found that hotels are using automation and tech-empowered travel to simplify traveling and improve privacy and protection.
PitchBox Media specializes in identifying industry trends, providing journalists with access to innovative and trend-worthy brands to inspire story ideas and streamline their editorial process. Are your pitches ignored despite your current PR efforts? Schedule a demo today to discover how PitchBox Media themed media shipments can put your brand in the hands of relevant journalists.