Fast Facts;   23 days ago

Moose Trend Tracker: May 2022

We analyze data every month to help you stay on top of what’s trending. Explore some of our latest discoveries.

Beverage

1/3

Of survey respondents said they are making fewer cocktails from scratch since they started drinking canned cocktails, according to Drizly’s 2022 Consumer Trend Report. The overall popularity of ready-to-drink (RTD) cocktails has major implications for at-home mixology, which has declined in popularity as the pandemic winds down.

73%

Said “home” is their most likely place to enjoy RTD cocktails. 

62%

Listed classic cocktails such as Old Fashioneds, Cosmos and Margaritas as their preferred RTD formats; however, 43% said they’re up for trying something new.

70%

Of Gen Z respondents and 56% of Millennial respondents listed tequila as their preferred spirit-base when shopping for RTD cocktails.

(Drizly Consumer Trend Report, May 2022)

Sports & Fitness

33.5%

Growth is expected in the global virtual fitness market between 2019 and 2027, according to Research Dive. As the pandemic winds down, consumers aren’t buying as much fitness tech, but many are staying committed to tech-centric workout regimes. This shows that there is significant opportunity for VR and digital workout technologies to help make fitness more accessible to a broader audience. 

(Research Dive, May 2022 / eMarketer, May 2022)

Finance

$5.1 Billion

Is the USD value for soccer team Real Madrid, more than 7% more than last year’s worth. This means that the La Liga team has reclaimed its spot as the world’s most valuable soccer team and placing it slightly ahead of Barcelona, valued at $5 billion USD. Real Madrid is set to generate the most revenue in LaLiga by earning over $100 million this year–financial success which is in large part because of its huge supporter base and monetization through television deals. 

(Forbes, May 2022)

Shopping

73%

Of U.S. adults surveyed said most of their purchases tend to be spontaneous, which is a significant increase compared to 59% who held the same sentiment in last year’s study. Moreover, 64% of respondents increased their impulse shopping habits in 2022 compared to the past two years. Americans are spending more despite rising inflation, which is not entirely a surprise in light of larger consumer trends toward retail therapy and nesting. 

(Slickdeals, May 2022)

Entertainment News

13%

Of those who have unsubscribed from Netflix in the first part of 2022 were subscribed for more than 3 years, suggesting that long-term support for the streaming service is decreasing. This is an increase of 7% in comparison to 2021. On the other hand, nearly 70% of cancellations were from subscribers of less than 1 year. 2022 was the first year that Netflix lost subscribers in over 10 years. 

(The Verge, May 2022)

Collabs/Partnerships

Video game and lifestyle organization FaZe Clan is entering into a year-long collaboration with Disney. The partnership will be focused on fashion and merchandise - which has become a speciality of FaZe - following its recent fashion collaboration with Naturo Shippuden. Overall, this is another example of the trend of major brands partnering with video game-focused lifestyle organizations. For example, another major collaboration of this kind was the limited edition collaboration between luxury fashion house Gucci and 100Thieves. 

(MSN, May 2022)

Miscellaneous

The social media manager for DuoLingo, a language learning app, came under fire this past month after leaving a comment on a TikTok post about the Amber Heard v. Johnny Depp defamation trial. Many users deemed it insensitive  and raised issue with brands weighing in on the controversial legal battle. This is yet another example of the fine line that many brands (and especially their social media managers) are continuing to learn when it comes to engaging with viral social media topics and trends. 

(The New York Post, May 2022)

Brands Should...

Be mindful of cultural holidays in marketing–and think about the real ways that the community being targeted can also be supported. Recently, Walmart’s Great Value “Celebration Edition: Juneteenth Ice Cream” products were widely criticized for appropriating Juneteenth for commercialization purposes rather than supporting Blacked-owned businesses. Consumers aren’t afraid to call out brands for culturally appropriating holidays, and it’s important for brands to remember that simply selling merch is not the right way to support a significant holiday or date. 

(YPulse, May 2022)

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