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By Ally Marotti – 2 hours 1 min ago
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This week’s marketing winners, losers and newsmakers.
Ethereum: The blockchain for more than 80% of NFTs announced plans to become more eco-friendly. An upgrade taking place in mid-September will reduce Ethereum’s energy usage by 99.95%, which experts said will make it 2,000 times more sustainable. The move addresses a major criticism of NFTs–their lack of sustainability.
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Chase: The bank is teaming up with Marriott and Pinterest for a promotion that includes a $50,000 trip giveaway to three winners as it strives to spur travel and market its Marriott Bonvoy Boundless Credit Card. The Boundless Bucket List Contest requires contestants to create a travel Pinterest board. The initiative marks the first time Chase has partnered with Marriott for a contest of this financial size, according to a spokeswoman.
Pumpkin spice: It’s been a mainstream flavor for years—and a variety relentlessly pushed by brands every fall, for everything from beer to dish soap. But now, pumpkin spice has reached the status of being officially defined by Merriam-Webster in its latest dictionary update, which described it as “a mixture of usually cinnamon, nutmeg, ginger, cloves, and often allspice that is commonly used in pumpkin pie.”
Linear TV: Bob Iger, former CEO of TV powerhouse Disney, does not have a rosy view about the future of the medium, at least the linear version. “Linear TV and satellite is marching towards a great precipice and it will be pushed off,” he said this week at the Code Conference, according to Deadline. As for streamers, “there will be haves and have-nots,” he said.
Boohoo: The British fast-fashion clothing brand got some boos when it announced the appointment of Kourtney Kardashian as its ambassador with a focus on sustainability. Many consumers cried foul, noting that the reality star—along with the rest of her family—is not known for her environmentalism. On the contrary, the Kardashian-Jenners are known for their use of private jets and excessive water use during a California drought.
Do you think Kourtney kardashian flew on her private jet to her Boohoo sustainable fashion line meetings?
Kourtney Kardashian collaborating with Boohoo for a sustainable range means we have reached peak green washing. There is nothing sustainable about fast fashion.
Juul: The e-cigarette maker agreed to pay $438.5 million to 33 states for marketing addictive nicotine products to children. The agreement was two years in the making. As part of the deal, Juul cannot run any youth-focused marketing including ads showing anyone under the age of 35 or cartoons. The company will also refrain from advertising on billboards or paying influencers to endorse its product.
Black people in Jackson Mississippi don’t have clean water to drink but yes let me scold adidas to support Kanye. #Activism
“There’s this tsunami of under-40 buying power.” –Alyson Griffin, VP of marketing at State Farm, about how the insurer is trying to attract Gen Z and millennial customers.
35: The number of official NFL sponsors backing the league as the new season begins. PepsiCo is the oldest—Gatorade has been the league’s “official sports performance beverage” since 1983. Newbies include Little Caesars, which has replaced Pizza Hut in a deal announced in June.
Reebok promoted Todd Krinsky to CEO. A 30-year veteran at the brand, he had been senior VP of Reebok Design Group.
The Washington Post named Mary Gail Pezzimenti head of creative for the Washington Post Creative Group. She joins the paper from Healthline Media/Red Ventures, where she worked as VP of content marketing.
Cart.com, which helps brands with e-commerce, named Rachel Truair chief marketing officer. She was most recently VP of campaigns, digital and partner marketing at Confluent.
In this article:
Adrianne Pasquarelli is a senior reporter at Ad Age, covering marketing in retail and finance, as well as in travel and health care. She is also a host of the Marketer’s Brief podcast and spearheads special reports including 40 Under 40 and Hottest Brands. Pasquarelli joined Ad Age in 2015 after writing for Crain’s New York Business, where she also focused on the retail industry.
E.J. Schultz is the News Editor for Ad Age, overseeing breaking news and daily coverage. He also contributes reporting on the beverage, automotive and sports marketing industries. He is a former reporter for McClatchy newspapers, including the Fresno Bee, where he covered business and state government and politics.
