Oprah Winfrey is the golden child of product marketing. Oprah’s Book Club is guaranteed to launch the most obscure and unknown authors to fame (just ask James Frey). Perhaps one of the most anticipated holiday television specials each year is “Oprah’s Favourite Things."
This year though, Oprah took a different approach. Instead of lavishing her audience with expensive gifts and gadgets like HD refrigerators, laptops, and insanely expensive desserts, she opted for a credit crunch themed special.
Oprah’s Favourite Things theme is 'Things that cost next to nothing'. Imagine you find out that you got tickets to the Favourite Things episode, only to learn that all you’ll walk away with is advice!!
Tyra Banks has taken to a similar format for a holiday special by picking up where Oprah left off with the expensive gifts of cash and gadgets. There was only one catch: the audience participating was required to wear bright red t-shirts that read “UNEMPLOYED”. Nothing like a little public shaming with your free loot.
What Makes This Trend Stand Out
- Credit Crunch Gift-giving
- Opportunities to market affordable and practical gift options for individuals and corporations in times of financial stress.
- Purpose-driven Branding
- Companies seeking to align their messaging and branding efforts with causes or solutions that resonate with customers who are increasingly prioritizing ethical and sustainable values.
- Humor-driven Marketing
- Opportunities for marketing and advertising efforts that use humor to navigate sensitive or difficult topics, including financial anxiety, unemployment, and related issues.
Sectors Adopting This
- Retail
- Retailers can create campaigns and product offerings that provide affordable solutions for customers facing financial stress while preserving premium offerings for those who can still afford them.
- Consumer Goods
- Consumer goods companies can adopt a purpose-driven approach to their branding and messaging in order to appeal to consumers who prioritize ethical and sustainable values.
- Marketing and Advertising
- Marketing and advertising agencies can develop humorous and tactful campaigns for clients in various industries who want to address sensitive or difficult topics in their messaging efforts.
