Strap in and wax those surfboards because #Xtremechat debuts tonight April 2nd at 9pm. Our first feature topic will encompass a variety of current events and trends in the action sport marketing industry. We will touch on a range of topics including the success of the Winter Olympics, Oakley’s retro branding, the declining snowboard industry, the changing seasons bringing around a new year of summer action, corporate cultures, changing sponsorship, and some news about the continued partnership between NBC sports and Red Bull’s Signature Series. Make sure you take a look at a few of these links to shake off the cobwebs before the chat begins tonight. Remember to bring a great attitude and tell your friends to get involved. I would love to submit your own questions to the chat and if you have any please feel free to send them to @locka_flocka by way of direct message on Twitter. See you at 9!
It’s that time of year again. Spring is nearly upon us, and with it what is possibly the most revered and talked about collegiate championship in the world. The NCAA Men’s Basketball Tournament, hailed for its do or die nature that puts seasoned champions on the line against hungry underdogs with an appetite for upsets.
- The NCAA began its tradition in 1939. 2014 will mark the 76th Anniversary of the Tournament.
- The Tournament began with only 8 teams, and now stand at 68.
- You have a 1 in 9.2 Quintillion chance of selecting a perfect bracket. If you can Warren Buffet wants to give you $1 Billion Dollars.
- The Tournament demands high capacity stadiums with a record attendance of 826,989.
- An estimated 1 in 10 Americans will fill out a bracket this year with over $7 Billion dollars on the betting line.
Although chances of selecting that perfect bracket are slim, we will always be willing to give it a go. The NCAA Tournament is the sole reason the month of March has been revered as the holy month by basketball fans and sports enthusiasts alike. Don’t let the odds scare you from choosing your bracket, and certainly don’t rule out the underdogs as this tournament is famous for its Cinderella Stories. If you wanted to see your odds of a perfect bracket in paper, the number of possible brackets would only stack from the Earth to the Sun 6,000 times… But fret not! The perfect bracket is out there begging to be picked so fill out those brackets people! Oh and by the way…Let’s go Blue Devils!
If my own undying love for hot sauce were not enough, Americans have confirmed that my addiction is more than simply a personal obsession. It’s a national pandemic. This is directly related to the influx of Asian and Latino immigrants who culturally maintain a higher tolerance for spicy foods. It is also a result of the booming popularity of a personal favorite of mine, chicken wings.
Major names in the sauce industry like Frank’s (the holiest of the hot) and Sriracha have seen significant growth in sales as hot sauce popularity has spiked. This has been a trend taking place over the last decade in which hot sauce sales have grown more than 150%. Americans are no longer shying away from spicy foods, and often welcome the challenge of trying new, more intense levels of heat. As the super bowl approaches, hot sauce businesses are lining their pockets with Americans set to consume more than 1.25 billion hot wings on Super Bowl Sunday alone, not counting the 25 billion that are devoured annually. Chickens across the country are living in fear, as the wing craze continues to grow and with it, the hot sauce industry.
My fellow Millennials, our time has come. As we approach the next crucial years of our lives, the workforce must open its doors to allow the next generation to take over. Employers must change their tactics and prepare to cater to a new breed of employee. Here are just some of the mind blowing stats that accompany the growth of the Millennial in the workforce:
- By 2025 Millenials will represent 75% of the global workforce.
- 1 in 10 Millenials makes over $100,000.
- Millenials represent the most culturally diverse generation yet.
- Millenials are insatiable consumers and are expected to surpass Baby Boomer spending by 2018.
Millenials will soon be the driving force behind the worlds economy and with our positive, goal oriented, self reliant, and tech savvy attitudes and skills, we are certain to take the workforce by storm. Watch out Baby Boomers, Millenials survived Y2K and are here to stay.
As rain continues to ravage Vermont’s ski conditions this season, a different force is disrupting the Russian region that will host the 22nd installment of the Winter Olympics. Shortly after New Year’s the bodies of six men were discovered in four different locations in Southern Russia, not far from the host city of Sochi. In a number of the locations the bodies were found accompanied by explosive devices that luckily did not harm any civilians or authorities. The attacks follow two more that occurred just before the New Year on December 29 and 30, both of which produced fatal results. It is believed these attacks have been carried out by members of the North Caucasus Islamist Group. This same group of Islamist extremists has made a number of threats against the upcoming Winter Olympics in Sochi. They claim the event is dishonoring the land their ancestors were buried on. The leader of the terrorist group was quoted saying they would use “maximum force” to prevent the Olympic Games from taking place. From their prior attacks it is clear this could be much more than a scare tactic, as they have displayed their aggression killing or seriously injuring over 400 people, many of them children. This has sparked new security concerns for visitors of the upcoming games, as well as the Russian locals. As the games approach the publicity of these attacks could cause some major for the games.
These attacks shed some light on the importance of venue selection in event marketing, and following that is ensuring the security and safety of visitors, participants, or whoever else may be in attendance at the event. Whether it is a large or small event, the venue safety is of utmost importance. Ensuring that attendees can feel safe and secure during their stay is imperative to the success of an event, and marketing that safety to consumers is crucial for success. When incidents such as these attacks occur and are heavily publicized, the question of safety often arises. This lack of comfort could be a deterrent for many prospective visitors attending the Sochi Games and could lead to lower numbers and negative outcomes for the games, and the surrounding businesses and cities. The Olympics being such a heavily publicized event involving such an array of nations makes it highly susceptible to both large and small scale criminal or terrorist activities, making it an even more difficult venue to secure and market. As the venue cannot be changed, it will be interesting to see how Russia and the International Olympic Committee handle the press and fragility of these terrorist attacks, as they will certainly Impact the attendance of the Olympic Games as well as the possible participation of some nation’s athletes. I am interested to see how security measures are beefed up in Sochi without disrupting the flow of the games, but we will all sit in anticipation until it comes time to light the Olympic Flame in Sochi this February.