Industry Insights: September 20, 2023
by Jordan DeGraw • September 20, 2023
The Great Resignation is Over
Hello, friends! Welcome back to our weekly rendezvous, where we unravel the most intriguing industry insights, curious trends, and just a pinch of fun to spice up your day. This week’s insights are brimming with fascinating tidbits that will leave you pondering the world of retirement, marketing, and even AI’s unexpected thirst. So, settle in, and let’s do this!
We’re kicking off this week’s insights with a reality check on retirement. Did you know that 64% of people nearing retirement age are either considering delaying their retirement plans or have already taken steps to do so? The primary culprit? Money worries! A staggering 52% cite financial insecurity as their reason for postponing the golden years.
But it’s not just retirement that’s making headlines. According to LinkedIn, the labor market is normalizing, with an average of two applicants for every job opening. The once-soaring “Great Resignation” seems to be tapering off, hinting that confidence in finding greener pastures might be waning.
Moreover, in a heartening development, workforce participation rates among men and women have reached a historically low gap of just 10.5%. This convergence signals significant progress towards gender equality. The gender pay gap also improved by 16 cents, with women now earning 84 cents for every dollar their male counterparts make.
In the marketing realm, Meta (formerly Facebook) is considering a game-changing move—a paid version of Facebook and Instagram for EU users that would be ad-free. This strategic shift aims to address privacy concerns surrounding ad-based services that rely on user data for profits. It’s a fascinating development that underscores the evolving landscape of online advertising.
Meanwhile, Google is introducing a “get-to-know-you” period for new advertisers. During this phase, ad impressions may be limited while Google evaluates user feedback and adherence to advertising policies. This could provide an advantage to accounts with a long history of policy compliance.
In a surprising twist, consumers have declared Amazon their favorite ad platform for its relevance and utility. Google, TikTok, Instagram, and Spotify follow in the ranks. However, marketers seem to have a different perspective, with YouTube taking the top spot. Amazon didn’t even make the cut in their top five preferences.
In the legal arena, the U.S. Department of Justice is launching an antitrust suit against Google, labeling it a “monopoly gatekeeper for the internet.” Google’s parent company, Alphabet, voices concerns about the potential consequences of competition law enforcement, which could affect their business models and services. This legal battle is one to watch as it unfolds in the coming months.
On a lighter note, some designers are taking a nostalgic trip down memory lane. The latest ad design trend is dusting off Microsoft Wordart, reminiscent of our school days tinkering with digital fonts. Take a gander at Croc’s latest ad campaign, which could make any kid in your fourth-period computer lab proud.
Just for Fun:
Finally, let’s quench your thirst for some quirky trivia! Did you know that OpenAI, the tech giant behind language models, goes through one 16-oz bottle of water for every 5-50 questions answered on average? That’s because these supercomputers need massive amounts of water for cooling. Talk about a thirsty AI!
And get this– the workplace attire landscape is shifting. Only 3% of workers now don suits and ties, while 41% opt for business casual, and 31% embrace casual streetwear. Lululemon’s ABC jogger pants have ruined us for good in the era of remote work.
That wraps up our industry insights for this week, folks! We hope you found these tidbits as fascinating as we did. Stay curious, stay informed, and join us next week for another round of captivating discoveries.
Until then, take care and have a fantastic week ahead, friends!
Your friendly Industry Insights devotee,