Cheddar has been covering the biggest news of the week with some of the biggest names in the biz. In case you missed it, we've pulled together some of the highlights that will keep you informed as we get ready for the week ahead.
Oprah's Favorite Things
After 25 years, "Oprah's Favorite Things" continues to trend as the holiday rush kicks into high gear. The segment, which first aired on the Oprah Winfrey Show, has become a trusted guide for people looking to be crowned Gift Giver of the Year. Gayle King, editor-at-large of O, The Oprah Magazine, and Adam Glassman, creative director at Oprah Daily, said the list remains popular among fans because they have grown to respect the former talk show queen's opinion over the years. "People trust her. People like her. They know that she doesn't make recommendations just because something is the new hot thing. She genuinely has to like it," King told Cheddar.
Bye Bye Staples Center
LA's iconic Staples Center, home to four of the local sports teams, will no longer exist starting Christmas Day after AEG closed its historic deal with Crypto.com to rename the building to Crypto.com Arena. The $700 million, 20-year deal is said to be the largest naming rights deal in history. "There's nothing that compares with the Staples Center — or the venue formerly known as Staples Center, now Crypto.com Arena. Everything from the Grammys being broadcast there, the Lakers playing from there, the Kings, the Olympics will be there. It's an incredible globally-known venue that we're so proud to be part of," Steven Kalifowitz, chief marketing officer at Crypto.com, told Cheddar.
Booze Delivery With Drizly, 7-Eleven
Convenience in 2021 is being able to order your favorite tequila from platforms like Drizly and have it arrive at your doorstep in under an hour. Now, the alcohol delivery service is expanding its options to link consumers up with more retailers than just small mom-and-pop liquor stores. Customers in 11 states can order booze from more than 1,200 7-Eleven locations. Cathay Lewenberg, Drizly COO, told Cheddar that while partnering with small businesses has helped grow the company, the 7-Eleven partnership will allow Drizly to service even more customers and get them their goods in under an hour. "We actually grew 350 percent last year alone. We continue to see growth, and we are not expecting this to slow down," she said.
The State of Retail
While the pandemic has been a rollercoaster ride for the retail industry, the holiday shopping season is showing promise for the economy despite supply chain constraints and inflated prices on goods. Walmart reported a beat on the top and bottom lines in their Q3 earnings report and according to Katie Thomas, lead at Kearney Consumer Institute, it's a signal that the broader retail sector is adapting to conditions brought on by the pandemic. "I think that today's retail numbers show that there is clearly still a pent-up demand. We're looking to spend. We're ready to spend," she said.
S&P 500 Twitter Sentiment Index
Over the last 20 months, it has become evident that social media has the power to move markets. Now, Twitter and the S&P Dow Jones Indices are getting into the game to find out what the everyday retail investor is thinking. The companies have created the S&P 500 Twitter Sentiment Index to monitor the performance of 200 S&P members through tweets that include relevant $cashtags. Peter Roffman, global head of innovation and strategy at S&P Dow Jones, told Cheddar that at some point, the index will be licensed in order to make room for potential investing. "It will be over the next several months and the timing is based on client demand and what kind of products we're ultimately going to see. But it's going to come as quickly as the clientele would like it to come," he said.