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2 FEBRUARY 2024

Welcome to this week’s edition of Culture Wire, a newsletter brought to you by Singapore-based pop culture and lifestyle marketing agency Culture Group.

In this week’s edition:

  • Innovation of the Week: Nike taps NewJeans for an exclusive performance 
  • Fax, No Printer: Can you guess the latest FinTok trend? 
  • Regional Round-up: Surprising collaborations, a cultural void, anime advances, and more! 

Innovation of the Week

🐰 IT’S NO TIME TO BE SUPER SHY

K-pop girl group NewJeans will perform at the new Nike flagship store in Singapore tomorrow. To snag access to the exclusive event, fans needed to download the Nike app, sign up for the brand’s free membership program, and answer a question (‘Tell us why you are the biggest NewJeans fan’). Just 75 winners were selected—along with the first chance to shop the Air Max 90 LV8 before anyone else. The tie-up coincides with a Nike By You x NewJeans capsule collection that is exclusively available at the Orchard Road store.

💡 OUR TAKE

First KrisFlyer, now Nike. This is just another example of how brands are tapping into culture to drive loyalty and rewarding fans with a money-can’t-buy experience (did we mention that this is NewJeans’ first Singapore show?) And here’s the thing: as more brands shift their emphasis from stale loyalty programs 😴 to passion points-based rewards, the more consumers will expect it. The brands that don’t keep up shouldn’t expect to hold customers’ attention

The 75 lucky bunnies (official fandom name for NewJeans) won’t just get to attend the group’s first-ever performance—they will also get early access to the limited-edition Air Max kicks, giving them a way to show that they were there. We’ve previously discussed the rise of subtle or coded merch, which allows fans to signal their fandom to other like-minded individuals, and this is a version of that—albeit one that comes with collector cachet. Yes, must-have ‘it’ items are giving way to must-attend experiences, but physical goods do still have meaning. So, even as you pivot towards passion points as an engagement tool, consider how limited-editions can fit into your loyalty strategy. (Note that NewJeans fans who didn’t get access to the event could still get their paws on the collection during special shopping days from January 30 through February 4.)

Let’s zoom out for a moment and consider the broader Nike x NewJeans partnership. The supergroup first collaborated with Nike as part of Air Max Day in March 2023. Air Max is perhaps the ultimate Y2K sneaker (yes, it was first released in 1986, but it was the 90s versions that really put the shoe on the map), and the brand has reinvented the style with Gen Z in mind. The partnership makes total sense when you consider how NewJeans have put their own spin on the Y2K’s aesthetic

The lesson here? Identifying passion points that resonate with your members and rewarding their loyalty with priceless experiences. Bonus if you can refresh Y2K styles and make them appealing to younger audiences—from nostalgia to nowstalgia.

Fax, No Printer*

For those of you born before 1997, ‘fax, no printer‘ is Gen Z speak for ‘undeniable facts I agree with’

How is Gen Z approaching their finances?

A. Intentional investments 📈

B. Doom spending 💸

C. Loud budgeting 🔊

Scroll down to the end of the newsletter for the correct answer!

Regional Round-up

🎮 The Thai Red Cross has partnered with Vaseline to raise awareness about skin donations for burn victims. The Skins for Skin campaign saw some of the country’s top gamers remove their avatar’s skins and discuss the changes with livestream viewers. Limited-edition Vaseline jars featuring information about the campaign were available at select 7-Eleven stores. This campaign shows how almost any message can be reformatted for the platforms Gen Z favors—it just requires some creative thinking!

▶️ A few weeks ago, we explored how a mall slated for demolition had become Singaporean Gen Z’s favorite hangout. The Peace Centre finally closed last weekend, but it was a farewell party to remember with some waiting in line for an hour to get into the venue. Could your brand provide a blank space for grassroots culture to flourish? Even better if you can give young people free rein! 

🇲🇾 Rampas Cintaku—an original Malay-language drama developed by iQIYI—just debuted in Chinese Mainland after enjoying success in Malaysia. With the Baidu-owned streamer planning to launch over 35 original productions and licensed series from SEA over the next two years, it seems like momentum around the region’s entertainment industry will continue to grow. How will you grab a slice?

🧙‍♂️ Attention, Elric fans! A Fullmetal Alchemist exhibition is currently on display in Kuala Lumpur—the first outside Japan. With over 300 exhibits, it gives fans an up-close look at the popular anime, which has sold over 80 million copies worldwide. Anime fans are looking for new ways to celebrate their fandom IRL: in 2024, how will you help them participate in their passion points in new ways? 

⚠️ ICYMI: Continuing with the anime theme, Crunchyroll and Sony Music just announced a new weekly podcast, The Anime Effect, that’s aimed at existing fans and genre newbies. Of course, Culture Wire readers are well-versed in the impact of anime, but with new data revealing the reach and emotional power of anime culture, it might be time to refresh your culture strategy…

This Week's Trivia Answer

C. Loud budgeting 🔊

The concept of loud budgeting has gained traction on TikTok over the last few weeks (14M views and counting), and it’s winning over Gen Z and financial advisors. Essentially, it’s about financial accountability: setting a realistic budget, then (loudly!) communicating it to friends and family members. Setting a personal budget isn’t a new concept, but sharing it is—after all, it’s still awkward to talk about money and it’s easier to flaunt wealth rather than financial struggles.

But why has the term gained traction? It’s partly the result of post-pandemic revenge spending when young people relied a little too heavily on credit cards. In some regions, it’s rooted in fears about financial pressures linked to inflation and the rising cost of living. For others, it’s an opportunity to be more transparent about money—important to a generation that’s struggling to make ends meet

Brands would do well to understand these underlying concerns and consider how financial accountability and peer pressure could impact spending when it comes to more indulgent purchases. It could also lead to more interest in finance advisors or financial literacy resources—which some brands are already exploring. 

🚀 Over and Out!

Pop culture insights are better when shared. Subscribe, forward this on, or share the love on social media. Thanks for reading!

 

Your Culture Mavens,

Angela, Kiko, Ross, Teri, & Vicki

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