Saturday, August 05, 2017

Social media is the new TV

New York Times wrote an insightful piece about why brands are suddenly more vulnerable to consumer sentiment than they once were. The article was saying it boils down to one thing — social media is the new TV.

We have seen how online sentiment can bring about a momentum against brands, from #deleteUber to the outrage over United Airlines' treatment of its passengers, from Pepsi's politically/racially insensitive ad to Fox News anchor being stripped of his position due to his inappropriate behavior towards women. Consumers are rallying together to make demands of, and shape organizations' corporate practices.

Another fascinating insight in this piece is about how women account for 85% of all consumer purchases. As we see the rise of consumers making themselves heard, we will also see the rise of women wanting to be heard even more (we are already seeing much of that in the past 2-3 years.) But one can see how these trends converge, especially when you consider the fact that women dominate social media, and these platforms have the ability to empower them. It will be useful to stay ahead of this trend and see how it evolves in the near future.

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