Emerging Issues Weekly | No. 2 | December 17, 2021
Curating the top ten emerging issues from the week shaping commerce + culture.
ONE
Instagram has 2 billion monthly active users.
Instagram is in a race to stay ahead of TikTok, the fast-growing short-form video app that just crossed 1 billion users in September.
Look for Instagram to draw more attention from regulators. With an internal study finding that the platform may exacerbate body image issues plus accusations that it makes it easier for teens to find drugs, more audience means more responsibility to be a force for good.
TWO
Apple builds a new team to bring more wireless chips in-house.
Taking advantage of its world-class supply chain expertise plus hardware know-how, Apple is taking another step toward its goal of making more of its components.
Look for Apple to develop wireless chips that will eventually replace components supplied by Broadcom and Skyworks Solutions.
THREE
Electric truck startup Rivian plans a $5 billion Georgia factory complex.
Rivian announced that the battery and assembly plant east of Atlanta would employ 7,500 workers and possibly 10,000 workers. This new factory is the largest industrial announcement in Georgia history.
Look for US sales of new fully electric vehicles to more than 2 million by 2025 - around 12% of US new vehicle sales.
FOUR
Toyota to spend $35 billion on electric push in effort and aims to sell 3.5 million electric vehicles (EVs) in 2030.
The effort is an attempt for Toyota to shed the company's laggard image with the launch of 30 EV models by then in a line-up including sports cars and commercial vehicles.
Look for Toyota to target customers in the US and China with their Lexus brand, where Lexus' aspirational and well-educated customers will switch to electric earlier than other models.
FIVE
India announced a $10.2 billion plan to attract global chipmakers to set up shop in the country and transform it into a production hub of semiconductors.
India wants to lure manufacturers with operations in China that might be willing to shift to India because of the ongoing trade disputes between the US and China.
Look for India to push electronics manufacturing to $300 billion in the coming six years from $75 billion now, with semiconductor chips a crucial part of that economic expansion.
SIX
Sotheby's announced that it had enjoyed record annual sales of $7.3 billion in 2021 as the art market rebounds from the pandemic.
Asian collectors accounted for 46 percent of bids and purchases of lots over $5 million.
Plus, Non-fungible tokens (NFTs) contributed almost $100 million.
Look for Sotheby's to increase sales from Asian buyers and younger, tech-savvy collectors.
SEVEN
Resorts are pitching themselves as places for employees to mix leisure time and focused work.
More and more resorts are offering “work wellness” packages that allow people to get some work done while taking fitness and other classes in a luxury environment.
Work-from-anywhere (WFA) opens more possibilities for professionals that maximize productivity while at the same time improving mental, emotional, and physical health.
Look for more workers and companies to embrace "paid time on" that combines the best of working vacations.
EIGHT
NFL awards 2024 Super Bowl to Las Vegas.
Awarding one of global sports' biggest events marks a dramatic shift for Las Vegas and professional sports.
Pro sports owners had long snubbed the town, but as wagering on games gained widespread support, it makes sense the Super Bowl will land in Las Vegas.
Look for this event to cement the synergy between professional sports and big-time gaming.
NINE
Soccer has become the go-to sports property of the streaming era.
The audience for the average soccer match does not compare to professional baseball, basketball, or hockey (to say nothing of football).
On a typical Saturday now, American fans have live access to more than 75 professional soccer games, with many available only on streaming services.
Look for soccer's popularity in the US to only continue to grow with its young and digital-savvy fans happy to stream from a global menu of soccer matches.
TEN
Paris 2024: The opening ceremony for the 2024 Summer Olympic Games is on the River Seine.
The 2024 Paris Olympics will break with tradition and hold the opening ceremony along the River Seine, with a crowd of more than 600,000 expected.
The Paris 2024 organizing committee will use more than 160 boats for the athletes from more than 200 countries to travel almost 6km between Pont d'Austerlitz and Pont d'Iena bridges.
Look for future host cities to reimagine what it means to host the Games and seek ways to maximize the unique resources of a city or region.
