Business

Global ad market on track for 8% growth in 2022

Global advertising expenditure is forecast to grow 8.0% in 2022, according to Zenith’s latest Advertising Expenditure Forecasts report, published today. This represents a minor downgrade from the 9.1% growth rate Zenith published in December 2021. Growth will be supported by the Winter Olympics, mid-term US elections and soccer World Cup, which for the first time will take place in the most advertising-intensive period of the year in the run-up to Christmas. Faced with this tough comparison, growth will slow to 5.4% in 2023, before the Summer Olympics and US presidential elections help boost it to 7.6% in 2024.

The inflation outlook

US inflation is at its highest point in nearly 40 years. Here are scenarios for how inflation might evolve in the next three years and actions your organization can take to be resilient in each.

Smart Spending at Speed [REPORT]

How to Turn Procurement Into Your (Not So) Secret Growth Engine

Advertising Coalition Finds Advertising Drives $7.1 Trillion in US Sales

New research validates the powerful impact of advertising in driving the US economy. A new study, commissioned by The Advertising Coalition and conducted by IHS Markit, found that advertising generated $7.1 trillion in sales activity and supported 28.5 million US jobs last year.

U.S. Bank launches nation’s first Spanish-language voice assistant for banking

U.S. Bank is the first financial institution in the United States to offer an experience Spanish-speaking customers have never had before: the ability to bank via mobile app in their preferred language – just by speaking it.

Immigrants in the U.S. are more likely to start firms, create jobs

Immigrants to the U.S. are more likely to start businesses than native-born Americans are, according to a study that takes a wide-ranging look at registered businesses across the country.

As telework continues for many U.S. workers, no sign of widespread ‘Zoom fatigue’

As remote work continues for many Americans, more than half of workers who say their jobs can mainly be done from home say they often use online platforms to connect with co-workers (56%). Most of these workers say they are fine with the amount of time they spend on video calls, but about one-in-four say they are worn out by it, according to a January 2022 Pew Research Center survey.

Raul Alarcón Jr. recipient of Hispanic Federation Lifetime Achievement Award

The Hispanic Federation at their annual gala in New York last night, honored Raul Alarcón Jr. Chairman & CEO of Spanish Broadcasting System with their Lifetime Achievement Award for his passioned efforts to help US Hispanics, bring media focused on the needs of US Hispanics need and his dedication to the US Hispanic advertising, marketing and media industries.

Maybe U.S. Consumers Won’t Turn Fuelish  [REPORT]

There is no doubt that the Federal Reserve will increase the target range for the fed funds rate later this month as higher energy prices are making the central bank’s problems even worse. The February consumer price index was up 0.8%, in line with our forecast and an acceleration from the 0.6% gain in each of the prior two months. Food prices were up 1%, while energy jumped 3.5% in February. Excluding food and energy, the CPI increased 0.5% after rising 0.6% in January.

Millennials and Gen Z: Leading and retaining talent in the multigenerational workplace [REPORT]

Deloitte’s annual Millennial and Gen Z Survey—fielded a year into the COVID-19 pandemic—reports insights that C-suite leaders should consider when redefining the future of work across multigenerational teams.

Hispanic American Wealth Surges in Record Time

Hispanics are capturing a piece of the American dream as a record number of Latinos move into the middle class. It is estimated that by 2030, the number of Hispanics in the United States will increase from 18% to 30%. As the population has grown, the poverty rate among Latinos has dropped to the lowest levels in recorded history, according to Census data. Median income, however, continues to rise. Hispanics are becoming an immigrant success story similar to those of Irish, Italian, and Asian descent who’ve chosen to settle and thrive in the U.S. Income Growth

The Contrarian Marketing Manifesto

We often assume that making the right decisions will guarantee us success. But if all of your competitors make the same exact decision, then you wind up with no competitive advantage, and at that point, you might as well be wrong. So you don’t just want to be right. You want to be the only one who’s right, so that you alone capture all the upside of the decisio

The 3 Things Employees Really Want: Career, Community, Cause

Strike up a conversation about work values, and it won’t be long before someone brings up a pyramid — a famous psychologist’s best-known theory. Abraham Maslow’s big idea was that we all have a hierarchy of needs: once our basic physiological and safety needs are fulfilled, we seek love and belongingness, then self-esteem and prestige, and finally self-actualization. But that pyramid was built more than half a century ago, and psychologists have recently concluded that it’s in need of renovation.

Recruiters and Students Have Differing Perceptions of New Grad Proficiency in Competencies

Given the gap in perceptions, college students who can demonstrate concrete evidence of their proficiency in key areas—for example, through internships and other types of experiences and activities—can stand out in the job market.

Young women are out-earning young men in several U.S. cities

Women in the United States continue to earn less than men, on average. Among full-time, year-round workers in 2019, women’s median annual earnings were 82% those of men.

Rise in Women on Boards of VC-Backed Private Companies

Him For Her and Crunchbase released the third annual Study of Gender Diversity on Private Company Boards which revealed that women now hold 14% of seats on the boards of the most heavily funded private companies.

Pricing Hacks Inspired by Behavioral Science

Should you aim high or low when a client asks you to “guesstimate” the price of a project? Most of us know the answer to this question, and it’s thanks to the world of behavioral economics that we have insights into the principles of pricing psychology.

U.S. AD MARKET OUTLOOK down by 1% based on economic impact of Russian Invasion of Ukraine

MAGNA reduces its 2022 advertising spending growth expectation due to economic and geopolitical uncertainty, but media owners’ ad revenues should still grow by +11% this year to pass the $300 billion milestone.

The Immigrant Archive Project collects the stories of coming to call the U.S. home [PODCAST]

The Immigrant Archive Project, a collection of oral histories from the nation's immigrants, will be housed at the Library of Congress. NPR's Debbie Elliott speaks to archive founder Tony Hernandez.

Author Talks: Where are the women who are missing from the workforce?

In this edition of Author Talks, McKinsey Global Publishing’s Raju Narisetti chats with Reshma Saujani, founder of Girls Who Code and an activist for women’s economic empowerment , about her new book, Pay Up: The Future of Women and Work (and Why It’s Different Than You Think) (Atria/One Signal Publishers, March 2022). Working mothers are burned out, and companies are losing the unique value they bring to the table.

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