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American Express Partners With TikTok As Social Media Drives Small Business Saturday

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Small Business Saturday is celebrating its 13th anniversary with a new partnership announced by American Express
AXP

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and TikTok. Social media continues to be a powerful driver of sales for small businesses. American Express aims to drive $100 billion in reported consumer spending at small businesses from 2021 through 2025.

The new 2022 American Express Shop Small Impact Study showed that reaching the next generation of shoppers via social media has become essential to small businesses. Sixty-three percent of small business owners say they want to focus on growing their Gen Z and Millennial customer base this holiday season.

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Social media is sacred for ad spending

“Instagram, Facebook, and TikTok, these channels are still highly used by customers, and business leaders realize that. That’s why we see them doubling down their spending in the social media arena this holiday season,” said Gali Arnon, CMO of Fiverr. “Social media-related services on Fiverr have seen increased demand, suggesting that business leaders are eager to tap into these channels to draw in customers and create brand awareness.” Ninety percent of businesses say social media is sacred. Companies have no plans to cut back ad spending in this area for the upcoming holiday season, and 40% plan to increase their spending in this category, according to a nationwide survey of small and medium-sized e-commerce businesses conducted by Fiverr.

Small businesses use social media to stay connected with customers

During the pandemic, many small business owners turned to social media to connect with their community and customers. “We went heavy on Instagram and worked to form a connection with the customer, which we have loved continuing to do,” said Ann Cantrell, retail store owner of Annie’s Blue Ribbon General Store. The retail store in Brooklyn, New York, uses videos, personalized content, and community-oriented posts, not just posts about products. Cantrell discussed how social media, particularly Instagram, has been great for her business and says they are dabbling in TikTok. “Instagram Stories have been very active for us. We just had a $500 sale from a customer in London who was coming to NYC to visit family, and the whole transaction was from Instagram.” Cantrell discussed how social media creates a real connection with her customer base and said, “I think they hear and see my authentic voice there, and that’s what works. It’s one of my favorite parts of the business.”

To&From launched this June as a gifting business and has successfully used social media to drive revenue and community engagement. The gifting market is estimated at $800 billion (excluding corporate gifting), according to co-founder of To&From, Bridget Johns, but has not evolved as much as other retail areas. “The problem is knowing what gifts to buy and remembering to buy them,” said Johns. Solving this problem was the inspiration behind the brand. The use of social media marketing has been very successful, but the challenge is to find the right audience. “For example, we’ve seen a good return from investing in Facebook groups with a specific audience and gift theme. One example is a custom gift list for hockey players. It’s performed very well with targeted ads and in a hockey moms group,” stated Johns.

Small business owners weigh in

Shoppers this year will be more surgical about holiday shopping and will look for value at various price points. “We are optimistic for Holiday 2022 and have thoughtfully curated a wide range of price points for customers to choose from, depending on what they are looking to spend. Customers are worried about inflationary prices this year, but Cantrell believes you can have a good time in her store for $20 and a really good time for $200; the key is to have a wide range of price points to meet the needs of many shoppers.

Cantrell discussed how shoppers are more committed to buying this year when they see something they need. “Whether it’s a birthday present for their friend’s kid or a gift for a co-worker. When they see something they like, they go for it knowing it may not be available later.” Shoppers are more intentional with the stores they shop at and the products they purchase. Johns agrees, stating, “I think people will still spend this holiday, and much of the research shows that the expectation will be flat to up, but I suspect that spending will be much more intentional.”

Shopping trends for holiday

“Consumers are leaning into their values, and how they are voting with their wallets has stood out to me,” said Johns. “We attribute all of our gifts on several dimensions, but outside of relationship/occasion filters, social values is the most used filter on our site.” Trends on the To&From site show that people love finding brands that support their interests, like female-owned businesses, BIPOC-founded companies, or companies with sustainability as a core value.

Trending gifts fall into three categories: gifts that support the values the gifter or giftee cares about, gifts that have a personalization aspect, and gifts for together time. “I think the past couple of Covid years have taught many of us that we actually like spending time with our families, so gifts that reinforce together time have been trending at To&From,” said Johns.

Inflation pressures taking a toll on spending

“We expect inflationary pressures alongside slowing global growth to weigh on discretionary e-commerce spending, which could continue to be pressured in 2023,” said Dan Schulman, President and CEO of PayPal , in a recent earnings call. “I think that seeing more retailers offer sales more frequently is a telltale sign that consumers are looking for deals, discounts, and other ways to save on purchases. These sales, which have been frequent since October, are a clear testament to the fact that consumers are trying to manage high prices, which are tightening their wallets and ability to spend,” said PayPal VP of Shopping Greg Lisiewski. PayPal recently rolled out its rewards program to help consumers save money in time for the holiday season

Business leaders are aware of the potential negative impact that inflation, the economic downturn, and supply chain disruptions could have on their business this season, according to the Fiverr small and medium-sized business survey. The findings show that more than 1 in 3 business leaders (36%) said the economic downturn and inflation’s impact on sales would be among the most significant challenges they anticipate their businesses will encounter this holiday season, along with competition from larger e-commerce retailers (37%).

Small businesses find it hard to compete with larger retailers

The American Express study showed that 72% of small business owners are concerned about the impact of inflation on their businesses this year. The owners say that the current economy is making competing with larger format retailers harder. Small Business Saturday on November 26 is an excellent opportunity for owners to connect with their customers and communities (#ShopSmall Accelerator).

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Social media lawsuit launched by Ontario school boards

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Premier Doug Ford says that lawsuits launched by four Ontario school boards against multiple social media platforms are “nonsense” and risk becoming a distraction to the work that really matters.

The school boards, including three in the Greater Toronto Area, have launched lawsuits seeking $4.5 billion in damages against Snapchat, TikTok, and Meta, the owner of both Facebook and Instagram, for creating products that they allege negligently interfere with student learning and have caused “widespread disruption to the education system.”

But at an unrelated news conference in Ottawa on Friday, Ford said that he “disagrees” with the legal action and worries it could take the focus away from “the core values of education.”

“Let’s focus on math, reading and writing. That is what we need to do, put all the resources into the kids,” he said. “What are they spending lawyers fees to go after these massive companies that have endless cash to fight this? Let’s focus on the kids, not this other nonsense that they are looking to fight in court.”

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Four separate but similar statements of claim were filed in Ontario’s Superior Court of JusticSocial media lawsuit launched by Ontario school boards pervasive problems such as distraction, social withdrawal, cyberbullying, a rapid escalation of aggression, and mental health challenges,” Colleen Russell-Rawlins, the director of education with the Toronto District School Board, said in a news release issued Thursday.

“It is imperative that we take steps to ensure the well-being of our youth. We are calling for measures to be implemented to mitigate these harms and prioritize the mental health and academic success of our future generation.”

The school boards are represented by Toronto-based law firm Neinstein LLP and the news release states that school boards “will not be responsible for any costs related to the lawsuit unless a successful outcome is reached.”

These lawsuits come as hundreds of school districts in the United States file similar suits.

“A strong education system is the foundation of our society and our community. Social media products and the changes in behaviour, judgement and attention that they cause pose a threat to that system and to the student population our schools serve,” Duncan Embury, the head of litigation at Neinstein LLP, said in the new release.

“We are proud to support our schools and students in this litigation with the goal of holding social media giants accountable and creating meaningful change.”

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Ontario school boards sue social media giants for $4.5B

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Four major Ontario school boards are taking some of the largest social media companies to court over their products, alleging the way they’re designed has negatively rewired the way children think, behave and learn and disrupted the way schools operate.

The public district school boards of Toronto, Peel and Ottawa-Carleton, along with Toronto’s Catholic counterpart, are looking for about $4.5 billion in total damages from Meta Platforms Inc., Snap Inc. and ByteDance Ltd., which operate the platforms Facebook and Instagram, Snapchat and TikTok respectively, according to separate but similar statements of claim filed Wednesday.

“These social media companies … have knowingly created a product that is addictive and marketed to kids,” said Rachel Chernos Lin, the chair of the Toronto District School Board, on CBC Radio’s Metro Morning on Thursday.

“We need them to be held accountable and we need them to create safer products.”

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Social media giants ‘knowingly’ harming children, TDSB chair says in wake of lawsuit

3 hours ago

Duration 5:53

Four of Ontario’s largest school boards, including the Toronto District School Board (TDSB), have launched lawsuits against social media giants behind Meta, Snapchat and TikTok for allegedly causing harm to students. Metro Morning host David Common spoke with TDSB chair Rachel Chernos Lin about the action.

The allegations have yet to be proven in court, and there is no set date for when they will be heard. CBC Toronto has reached out to the companies named for comment.

The school boards, speaking under a new coalition called Schools for Social Media Change, allege students are experiencing an “attention, learning, and mental health crisis” because of “prolific and compulsive use of social media products,” in a news release.

They allege the platforms facilitate and promote cyberbullying, harassment, hate speech and misinformation, and have a part in escalating physical violence and conflicts in schools, according to the statements of claim.

They also argue these apps are “purposefully designed” to deliver harmful content to students dealing with topics such as suicidal ideation, drugs, self-harm, alcohol, eating disorders, hate speech and sex — particularly content encouraging “non-consensual” sexual activity.

Trying to respond to those problems has caused “massive strains” on the boards’ funds, including in additional mental health programming and staff, IT costs and administrative resources, the release says. The boards call on the social media giants to “remediate” the costs to the larger education system and redesign their products to keep students safe.

Lawsuit may be first of its kind in Canada

Hundreds of school boards in the United States, along with some states, have launched similar lawsuits against social media companies.

Last fall, over 30 states accused Meta Platforms Inc. of harming young people’s mental health and contributing to the youth mental health crisis by knowingly designing features on Instagram and Facebook that cause children to be addicted to its platforms.

In an email, a spokesperson for Snap said Snapchat was “intentionally designed to be different from traditional social media.”

“Snapchat opens directly to a camera — rather than a feed of content — and has no traditional public likes or comments. While we will always have more work to do, we feel good about the role Snapchat plays in helping close friends feel connected, happy and prepared as they face the many challenges of adolescence.”

What social media scrolling is doing to kids’ brains

5 months ago

Duration 7:52

With most children and teenagers spending hours a day on a smartphone, CBC’s Christine Birak breaks down what research shows about how using social media is changing kids’ behaviour, if it’s rewiring their brains and what can be done about it.

Neinstein LLP, a Toronto-based firm, is representing the school boards. The boards will not be responsible for any costs related to the suit unless a successful outcome is reached, the release says.

Duncan Embury, a partner and head of litigation at Neinstein, told CBC News the named companies are “mainly responsible” for the social media products that kids use, and share “common” designs or algorithms that lead to “problematic use.”

To his knowledge, this is the first case of its kind in Canada.

“Based on what we’re seeing and what we’re hearing from our educators, I think this is a problem that is pervasive across our system and I wouldn’t be surprised if there [were] more boards that took this step,” said Embury.

Ford ‘disagrees’ with move

At an unrelated news conference on Thursday, Ontario Premier Doug Ford said he “disagrees” with the schools boards’ lawsuits.

“What are they spending on lawyer fees to go after these massive companies that have endless cash to fight this? Let’s focus on the kids, not about this other nonsense that they’re looking to fight in court,” he said.

WATCH | Ford disagrees with school board lawsuits against social media companies:

Ford disagrees with school board lawsuits against social media companies

2 hours ago

Duration 0:41

Ontario Premier Doug Ford responded to news Thursday that four major school boards in the province are suing some of the largest social media companies over alleged harm to young people, saying he disagrees with the boards’ action. “Let’s focus on the kids, not about this other nonsense,” he told reporters.

CBC News spoke to parents with children who attend schools in the Toronto District School Board. While they all agree social media apps are a problem, they differ in what approach they think should be used to regulate them.

“Just take the phones away,” said Gillian Henderson.

“I don’t think we need to sue anybody, that seems like a long, expensive process. Just take away their phones in class and give them back to them when they need them.”

The board has recently moved to develop a policy to limit cellphone use in classrooms, which includes potential phone bans and social media restrictions. It previously said staff had problems enforcing policies stating students should only use phones for educational purposes only.

Two separate pictures of a woman and a man shown together.
Gillian Henderson and Shyon Baumann have children who attend schools in the Toronto District School Board. Henderson thinks schools should take students’ phones away in class, while Baumann says it may be helpful to force tech giants to decrease harm from their apps through the court system. (Paul Smith/CBC)

Shyon Baumann said school boards could use some help in reducing screen time.

“If the school boards can do what they can trying to police it, that would be great. But it would be also great if the app creators did what they could to make the harms decrease,” he said.

“If they’re not going to make voluntary changes, then maybe doing it through the courts is the most effective way.”

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Five of the best books about social media

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From Covid conspiracy theories to recent speculations about Catherine, Princess of Wales, social media is at the heart of how we share information, and misinformation, with one another in the 21st century. For those who want to have a better understanding of social media and how it affects us, here are a selection of titles that explore how we consume, share, and manipulate information on social media platforms.


So You’ve Been Publicly Shamed by Jon Ronson

Journalist and author Jon Ronson argues we live in “a great renaissance of public shaming”, and this book tracks down some of the many victims of online shaming to understand what happened to them as a result. In the process, we learn about Ronson’s own values, question our own, and figure out how we’ve reached a time where an online feed can become a social courtroom.


Doppelganger by Naomi Klein

After getting repeatedly mistaken for feminist-turned-conspiracy-theorist Naomi Wolf online, and then in real life, Naomi Klein penned Doppelganger as an earnest and introspective look at herself. The book explores how conspiracy theories and lies spread quickly through the internet, and how the social and political climate of the physical world manipulates the way we experience online platforms. While not exclusively about social media, the story behind Doppelganger is a perfect case of the ways our digital lives and identities intersect with what we experience in reality – and how dangerous the repercussions of spreading online lies can be.


Irresistible by Adam Alter

Have you ever wondered why you can’t stop scrolling on your TikTok “for you” page, or obsessing over how many likes you got on a recent Facebook post? You’re not alone, and Adam Alter’s book explores why we get sucked into the digital world. He answers what makes an online addiction, whether it be to emails, Instagram, or Netflix, different to other forms of addiction – and warns us of the dangers this could cause long-term. As well as introspection, he gives practical solutions to how digital addiction can be controlled for good.

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Extremely Online by Taylor Lorenz

Journalist Taylor Lorenz calls this book “a social history of social media”; she uses real-life case studies of mothers, teenagers, politicians and influencers to assess how social media touches all demographics. Extremely Online explores topics from the digital economy and influencer culture, to what makes moments go viral on Twitter and how this is all influencing the way we socialise and understand the world. At its core, this book explores the idea of what it means to connect – and how social media as an innovation has warped communication.


TikTok Boom by Chris Stokel-Walker

TikTok is arguably one of the most significant advancements in social media in the past two decades. This book by journalist and writer Chris Stokel-Walker explores how the app is changing the way users interact with content. It moves away from the social-commentary style of the other books mentioned here, instead using business and technology analysis as a means to describe wider socio-political repercussions of the app. Stokel-Walker bridges the gap between the digital and the physical, showing the feedback loop that exists between what happens online on platforms such as TikTok and the real world.

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