Giving Tuesday – The New Black Friday?

Every year, as the holidays approach, we are inundated with messages about Black Friday and Cyber Monday. And for good reason — these are two of the busiest shopping days of the year. 

According to NBC News, Black Friday raked in $8.9 billion in 2021, while Cyber Monday hit $10.7 billion.

But how did the season of giving and goodwill turn into the season of buying and materialism? In this blog post, we’ll take a look at the history of Black Friday and Cyber Monday, and how they came to be the dominant forces in holiday shopping.

We’ll also shine a light on a new trend, one that shifts our gaze from consumerism to altruism. Giving Tuesday is a global generosity movement that encourages us to reimagine a world built upon shared humanity and radical generosity.

Simple in practice, Giving Tuesday encourages us to act with kindness, whether it’s making someone smile, helping a neighbor or stranger out, showing up for an issue or people we care about, or giving some of what we have to those who need our help. 

So let’s dive in and explore these holiday traditions together and see if perhaps we can encourage some of you to swap your Black Friday and Cyber Monday Traditions for Giving Tuesday this year.

The History of Black Friday and Cyber Monday

Black Friday got its start in Philadelphia in the 1950s. The name “Black Friday” was coined by police officers in the city who had to deal with the massive crowds and traffic that descended on the city for the annual Army-Navy football game. The massive influx of people caused problems for local businesses, who complained that the crowds were disruptive and dangerous.

The term “Black Friday” didn’t catch on nationally until 1975, when it was used by Factory Management and Maintenance magazine in an article about workers calling in sick the day after Thanksgiving so they could have a long weekend. 

From there, it was embraced by retailers as a way to describe the busiest shopping day of the year. Retailers capitalized on the name by running promotions and sales, which drew even more shoppers to stores on Black Friday.

Cyber Monday was created in 2005 by Shop.org, a division of the National Retail Federation. The term was coined as a way to encourage people to shop online for holiday gifts. The idea was that people would shop at work on Monday, when they had internet access, instead of going to stores on Black Friday. And it worked! In 2018, Americans spent a record $7.9 billion on Cyber Monday, making it the biggest online shopping day in history and spending has only gone up since.

Giving Tuesday – The New Black Friday?

For years, these Black Friday and Cyber Monday have been the busiest of the year for retailers, with consumers flocking to stores and websites in search of the best deals on holiday gifts. But this year, there’s a new kid on the block vying for attention – Giving Tuesday.

Giving Tuesday is a relatively new concept, having only been around since 2012 and this year it’ll be celebrating its 10-year anniversary. In its short history, it has already become a major force in the world of philanthropy, raising billions of dollars for charitable causes around the world. 

And with more and more consumers becoming aware of and concerned about social and environmental issues, it’s no surprise that Giving Tuesday is starting to give Black Friday and Cyber Monday a run for their money.

So, what is Giving Tuesday all about? And could it really be the new Black Friday? Let’s take a closer look.

What is Giving Tuesday?

Giving Tuesday is a global day of giving back, which takes place each year on the Tuesday after Thanksgiving (in the US). It was created as a way to encourage people to do good deeds and donate to charities during the holiday season, as opposed to simply spending on themselves. And it appears to be working – since its inception, Giving Tuesday has raised billions of dollars for good causes around the world. 

For example, GivingTuesday revenue in the United States reached record highs in 2021. In just 24 hours, GivingTuesday 2021 shattered previous revenue records. Despite an ongoing pandemic, donors gave almost $3 billion last year. 

How does it work? 

Organizations register as official participants on the Giving Tuesday website, which provides them with resources and support in promoting their campaigns. Schools, businesses, religious groups, nonprofits, and individuals are all encouraged to take part. And with millions of people taking part each year, there’s no shortage of ways to get involved. 

Why is it gaining popularity? 

Giving Tuesday is gaining popularity for a number of reasons. Firstly, social media has played a huge role in its success by providing a platform for organizations to promote their campaigns and engage potential donors. 

Secondly, more and more people are becoming aware of and concerned about social and environmental issues, and they’re looking for ways to use their spending power to make a difference. Lastly, as society becomes increasingly digitized, people are looking for ways to connect with others and make a difference in the real world – something that Giving Tuesday provides in spades.

Giving Tuesday – Footage Foundation

In light of giving Tuesday, we would like to highlight the contributions of one of our employees here at Craft & Root, Lillian Parry. Lillian is the Art Director for Craft and Root and has been with us for 4.5 years. She’s a talented graphic designer, based in NYC and a graduate of the School of Visual Arts, a leader in the education of artists, designers, and creative professionals for more than six decades.

Lillian has generously given her time as a graphic designer and consultant to the NYC-based non-profit Footage Foundation, an organization that provides an online community and connection for young women on the frontlines of gender inequality with a particular focus on forced displacement and gender-based violence.

Lillian’s involvement began seven years ago in 2015 when she worked on their Girl-Talk-Girl project which is now the largest digital storytelling platform connecting young women and focusing on gender-based violence globally.

Lillian’s work as a designer helps to communicate Footage’s powerful mission to a global audience to increase engagement, awareness, and involvement.

To illustrate the work that Footage is doing, here’s a video interview of the co-founder & Executive Director, Dr. Kristen Ali Eglinton speaking to BBC World News Live anchor, Lucy Hockings about the work of the Footage Foundation with women in Ukraine.

With 14 million people being displaced by the war in Ukraine, many of whom are women and children, Footage is trying to ensure that women get the right support that they need.

This is exemplary of the kinds of projects the Footage Foundation participates in around the world.

Show Your Support

This year, it is an honor for us to highlight Lillian’s philanthropic contributions. For this #givingtuesday, we want to encourage you to give to the Footage Foundation to help provide critical resources to women and girls who have been displaced and who are threatened with gender-based violence.  

Corporate Giving: Why it Matters

When it comes to corporate giving, there are a few key reasons why businesses need to get involved. Corporate giving shows that your business is committed to social responsibility. 

This, in turn, can help improve your brand image and make your business more attractive to prospective employees and customers. Moreover, corporate giving can also help build relationships with other companies and community leaders. And last but not least, corporate giving is a great way to give back to the community—something your employees and customers will undoubtedly appreciate.

Let’s review the benefits of corporate giving and why it’s important.

Boosting Morale and Employee Retention

Employees like to work for companies that care more than just the bottom line. Businesses make charitable donations showing that they care about the community and the world. This can help boost morale and also help with employee retention, as people will want to work for a company they can believe in.

When employees see that their company is giving back to the community, they’ll be proud to work for an organization that cares more than just its bottom line. This sense of pride can lead to increased employee motivation and productivity, which can ultimately benefit your business. 

Not to mention, happy employees are more likely to stay with your company for the long haul. In fact, according to a study conducted by the Work Institute, nearly 33% of employees who quit their jobs cite “a lack of appreciation” as their reason for leaving. 

So, if you want to keep your best workers around, you must show them that you appreciate their hard work. One way you can do this is by making regular corporate donations to causes your employees care about (like a donation matching program). You can also provide your employees paid time each month to volunteer with an organization of their choosing.

Not a “Nice to Have” But a “Must Have”

While corporate giving has been around for decades, its significance has recently grown. As employees and consumers alike have become more conscious of climate change, income inequality, healthcare disparities, and gender inequity, their expectations have also grown. People want to work for companies contributing to improving the world.

For example, the following stats from the Havard Business School show how employees favor companies that care more than just the bottom line.

  • 95% of employees believe businesses should benefit all stakeholders—not just shareholders— including employees, customers, suppliers, and communities they operate within.
  • 88% believe it’s no longer acceptable for companies to make money at the expense of society at large. 
  • 92% of employees who work at a company with a strong sense of purpose say they would be more likely to recommend their employer to those in their network looking for a job.

These numbers make it clear that organizations must dedicate efforts to developing Corporate Social Responsibility initiatives and corporate giving to ensure employee satisfaction and retention.  (Source)

Increasing Brand Awareness and Reputation

In addition to boosting employee morale, corporate donations can also help increase brand awareness and reputation. Customers like to do business with companies that give back, so this is a great way to attract new customers while also solidifying the loyalty of existing ones. 

Furthermore, media coverage of corporate donations can help spread the word even further and put the company’s name out there positively. 

In today’s day and age, consumers are increasingly interested in supporting companies that care about more than just profits. 

A study conducted by Boston-based PR company, Cone Communications, found that 91% of consumers are more likely to purchase products and services from companies that support social and environmental issues. 

So, if you’re looking for ways to improve your business’s public image, making corporate donations is a great place to start.

Here are some other key statistics about how customers feel:

  • 77% of consumers are motivated to purchase from companies committed to making the world better.
  • Most American consumers – 55% – believe companies must take a stand on critical social, environmental, and political issues. (Source)

Investing in corporate giving and social responsibility programs is a worthwhile endeavor. As illustrated in the stats presented here, stakeholders, from customers to employees, increasingly consider an organization’s CSR initiatives before making important decisions. These decision-makers include:

  • Customers, before making a purchase
  • Investors, before allocating funding
  • Employees, before choosing an organization to work for, and
  • Executives, before finalizing their corporate strategy

The benefits of implementing a corporate giving program at your business are clear. Not only can it help you attract and retain top talent, but it can also boost employee morale and job satisfaction. A corporate giving program also shows your customers that you care about more than just making a profit and allows you to give back to the community where your business operates. All of these factors can lead to a positive impact on your bottom line.

6 Health Tech Companies That Are Changing The Way We Access Care

Technology is transforming how we access mental health care and wellness services. With the rise of telehealth, mobile apps, and wearables, patients can now receive care anywhere, anytime. This is especially beneficial for those who live in rural areas or who have limited access to healthcare providers. In addition, technology can help patients track their progress and see results over time. 

The use of technology in mental health care has been shown to improve outcomes. A recent study showed that patients who used a digital behavioral health intervention saw a significant reduction in symptoms of anxiety and depression. Patients who used the app also reported increased satisfaction with their care. 

Technology is changing the way we think about mental health care. We no longer have to wait weeks or months to see a therapist. We can get started on our journey to recovery today with the help of technology. 

Luckily, the transformation of care is far-reaching. Let’s explore our list of top mental health and wellness startups to watch.

Cerebral

Cerebral is on a mission to transform access to high-quality mental health care.

What they do: Cerebral is a telemedicine company providing patients with mental health counseling, treatments, and services. The company experienced massive growth at the onset of the COVID-19 pandemic, fueled by increased demand for virtual services, becoming the world’s largest online mental healthcare provider.

Full-time headcount: 1,250 | Headquarters: San Francisco | Year founded: 2020 

Most common job titles: Clinical Instructor, Nurse Practitioner, Clinic Manager | Largest job functions: Healthcare Services, Human Resources, Research 

Plume

Gender-affirming hormone therapy from your phone.

What they do: Plume is a digital health company that offers gender-affirming hormone therapy for the transgender community all from the comfort of a smartphone. Its membership program provides patients virtual consultations with doctors, lab orders, support groups, and more.

Full-time headcount: 85 | Headquarters: Denver | Year founded: 2019 

Most common job titles: Patient Services Director, Social Services Coordinator | Largest job functions: Community and Social Services, Healthcare Services, Operations |

Lyra

Redefining workforce mental health.

What they do: Lyra is a mental health platform connecting businesses’ employees with care options, both virtually and in person. The company, founded by a former Facebook CFO and medical experts, has raised over $900M in funding from the likes of Oprah Winfrey, Salesforce, and Fidelity.   

Full-time headcount: 2,000 | Headquarters: Burlingame, Calif. | Year founded: 2015 

Most common job titles: Health Coach, Strategic Partnerships, Software Engineer | Largest job functions: Healthcare Services, Business Development, Engineering

Spring Health

Eliminating Every Barrier to Mental Health

What they do: Spring Health combines machine learning and the expertise of clinicians to help employers offer personalized mental health services to their employees. It has a team of scientific advisors guiding its approach to care and has had over 30 peer-reviewed papers on its treatment methods and outcomes published in medical journals.

Full-time headcount: 600 | Headquarters: New York City | Year founded: 2016 

Most common job titles: Software Engineer, Social Services Coordinator, Mental Health Counselor | Largest job functions: Healthcare Services, Engineering, Human Resources

Hinge Health

Comprehensive back and joint programs in the palm of your hand.

What they do: Hinge Health — which reached a $6.2B valuation in 2021 — combines wearables, video technology, physical therapy, and medicine to address users’ musculoskeletal aches and pains. In 2021, Hinge Health acquired a computer vision company, WrnchAI, and a pain-focused medical technology firm to further bolster its offerings.

Full-time headcount: 1,200 | Headquarters: San Francisco | Year founded: 2015 

Most common job titles: Health Coach, Software Engineer, Physical Therapist | Largest job functions: Healthcare Services, Engineering, Human Resources

Carrot Fertility

Opening the door to fertility care for every employee, everywhere.

What they do: The growing demand for employee fertility benefits is pushing companies to provide more resources to help navigate the paths to parenthood. Carrot Fertility provides that service — and has also added benefits for menopause and low testosterone services to its platform in an effort to destigmatize fertility care for professionals of all ages.

Full-time headcount: 335 | Headquarters: Remote | Year founded: 2016 | Most common job titles: Customer Experience Manager, Software Engineer, Business Development Representative | Largest job functions: Sales, Customer Success, and Support, Operations | 

This list is informed by LinkedIn Top Startups 2022: The 50 U.S. companies on the rise.

Published on September 28, 2022.