Creator economy scoop: At home premium coffee on the rise 2024
#QuickNumbers
39% of consumers are watching more content than they were a year ago
44% of advertisers are planning to increase their investment in creator content in 2024
142 million consumers plan to shop on Dec 23
69% of the consumers engage with the video ads
At home premium coffee on the rise 2024
Around 30% of remote workers have bought a new coffee machine since the start of the pandemic (guilty 🙋🏼♀️)
- Espresso consumption has risen 30% since the pandemic — a signal that more people have machines at home
- Pinterest saw a 1,125% increase in searches for “Coffee bar styling”
- 49% of Gen Z consumers learn about coffee on TikTok
- #coffeestationidea has 62.4m+ with users showing off carefully curated home coffee station setups
IAB releases Creator Economy Report
IAB (Interactive Advertising Bureau) releases Creator Economy Report
- 39% of consumers are watching more creator content than they were a year ago, compared to 22% watching more studio content across devices and services
Top 3 reasons advertisers WILL invest in creator content advertising ✅
- Delivers KPI and ROI effectiveness
- Offers a brand safe & suitable environment
- The authentic, honest connection it forges with audiences
Top 5 reasons marketers WON’T invest in creator content advertising 🚫
- Not sure what specific creators ads will be placed alongside
- Inconsistent performance
- Don't know where or how to add it to media plan/mix
- It’s confusing/complicated to buy
- Lack of control over what creators will say or do
Creator content is more impactful than studio content in driving:
- Research & consideration (1.23x)
- Loyalty (1.43x)
- Advocacy (1.30x)
Mr.Beast launches ViewStats, a new YouTube analytics software
MrBeast, the biggest YouTuber in the U.S., teamed up to create ViewStats, a new tool for checking out YouTube stats. The chrome extension that gives channel & video data on millions of YouTube channels. Including thumbnail A/B tests, long vs short views, estimated rankings and more. Check it out here
How Dollar Tree, Dollar General, and TJX are weathering the downturn
Low-price retailers, including Dollar Tree and Dollar General, are adapting strategies to maintain sales amidst predicted consumer spending patterns in 2024 similar to 2023. The company is also focusing on larger store formats, allowing for a broader mix of products, including refrigerated items, health and beauty products, and fresh produce. TJX Companies, parent company of HomeGoods, is betting on brick-and-mortar and has shut down HomeGoods' ecommerce business to concentrate on physical locations, emphasizing that ecommerce remains a small percentage of their overall business.The team at the Ogilvy published a report for brands to know what to expect in 2024 when it comes to the creator economy space. A few findings include:
- Dollar Tree added 4.3 million new customers in 12 months (Sept 2023)
- Most of our new customers over the past year have household incomes over $125,000
- To continue to draw in new customers across income brackets, Dollar Tree is expanding its multi price assortment (i.e., products with price points beyond $1.25)
- Dollar General, however, is reducing the number of SKUs, which it said helps lower costs, enabling the retailer to pass those savings to the customer
Creator Spotlight: Meet Chris Olsen
Chris rose to TikTok fame in 2020 sharing his comedic view on life with his then-partner
Chris is well known for his celebrity coffee delivery bit,which led to launch his own coffee brand, Flight Fuel
Chris is trained in musical theatre and can often be found frequenting concerts – he is a huge Harry Styles fan !
Chris struggled with alcoholism, entering rehab – he is since 6 years sober
Follow Rowan:
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