Welcome to On Culture, edition 12.
Five trending cultural insights of the month, from Canvas8.
1. Gen Z are driving the cassette comeback
Cassette tapes are making a comeback as Gen Zers crave tangible experiences and alternatives to all things digital.
50% of Gen Zers say they want to step away from their smartphones compared to just 20% of Boomers. WWD, 2023
To escape the fleeting interactions of social media, brands have an opportunity to resonate with Gen Zers by anchoring them in the tangible world, whether through in-store events, DIY workshops, or tangible products that invite touch and engagement.
The key for brands is to not go IRL for IRL’s sake but to find ways to authentically bring the brand’s ethos to tangible experiences and products.
Learn out more here.
2. Money dysmorphia is changing young spending habits
The grim financial landscape for young people has been widely reported. In this landscape, a new psychological trend is emerging: ‘money dysmorphia’, defined as a feeling of insecurity around one's financial situation even when the true picture reveals little cause for concern.
43% of Gen Zers and 41% of Gen Yers have financial dysmorphia MINT, 2023
Young people with money dysmorphia don't like to whack down a ton of money at once. Offering a safe, healthy BNPL option like AlmaPay can entice young people to spend a little more. These solutions should have safeguards in place to ensure that young people don't buy things they can't afford and fall into debt.
Read more here.
3. How Modelo brings a Latine buzz to US beer culture
In 2023, Modelo Especial dethroned Bud Light to become America’s most popular beer. Modelo's success mirrors evolving demographic dynamics in the US, especially the growing influence of the Latine community's food palates and alcohol preferences.
45% of Modelo’s customer base in the US is non-Latine consumers CONSTELLATION, 2023
Modelo's website states that the brand is “for the hard-working people of Mexico,” and that “We've been holding true to our roots and brewing beer for those who believe in better.”
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To appeal to consumers across diverse political and ethnic spectra, fostering an open dialogue and championing causes that feel brand-appropriate can help build trust and integrity irrespective of ideological differences and demographics.
To learn more how Modelo does that successfully, read more here.
4. Why luxury brands are aspiring to be cultural tastemakers
From exhibitions and foundations to sponsorships, and mentoring programmes, luxury brands are pursuing a range of arts and cultural branding strategies to legitimise their symbolic power.
These culturally focused activations and strategies are connecting with audiences on an emotional level.
“There's a real misunderstanding of the definition of cultural capital – cultural brands are brands that transcend their category and become iconic on their own,” says Leila Fataar, the founder and CEO of Platform13.
By curating accessible arts experiences and events that speak to local heritage around the world, luxury conglomerates can ingratiate themselves into growing markets.
Learn more here.
5. How Creams is making desserts the main event for foodies
The UK’s dessert scene is no longer defined by predictable puddings. Creams Cafe has become a champion of diverse menus and innovative offerings where desserts are treated as the main event when dining out, partly due to social media trends and a desire for ‘edible escapism’.
60% of people in the UK say they buy sweets to lift their mood THE GROCER/LUMNA INTELLIGENCE, 2023
In a world increasingly dominated by digital interactions, brands like Creams are establishing strong brand identities by fostering a sense of community in their stores. Creams positions itself as an ‘epicentre of community’, providing welcoming spaces in urban areas for people to gather and indulge.
Read more here.
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