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Rachel Karten

๐Ÿ‘ค Speaker
92 total appearances

Appearances Over Time

Podcast Appearances

Prof G Markets
How Influencers Hijacked The Consumer Economy

Well, I think also to understand why this feels so prevalent right now, it's also important to look at like how the algorithms have changed.

Prof G Markets
How Influencers Hijacked The Consumer Economy

And so I think when you think of the traditional view of an influencer, it was like you grow your following and you grow your views and that's how you have influence.

Prof G Markets
How Influencers Hijacked The Consumer Economy

And with these interest-based algorithms, now somebody with 500 followers can have a million views reviewing a product.

Prof G Markets
How Influencers Hijacked The Consumer Economy

And maybe they're actually seen as more trustworthy because they aren't an influencer, quote unquote.

Prof G Markets
How Influencers Hijacked The Consumer Economy

And so I think that we're seeing this explosion at this time also because everyone is an influencer now.

Prof G Markets
How Influencers Hijacked The Consumer Economy

It's not because you have spent five years growing your following to have some sort of influence.

Prof G Markets
How Influencers Hijacked The Consumer Economy

If you get on TikTok and speak, you are an influencer essentially at this point.

Prof G Markets
How Influencers Hijacked The Consumer Economy

And so-

Prof G Markets
How Influencers Hijacked The Consumer Economy

You know, I think that to some degree lines lining up for things.

Prof G Markets
How Influencers Hijacked The Consumer Economy

I worked at Bon Appetit for four years before I started my newsletter in 2016.

Prof G Markets
How Influencers Hijacked The Consumer Economy

People were lining up for milkshakes then and cronuts and supreme drops.

Prof G Markets
How Influencers Hijacked The Consumer Economy

And so I do think lines and people wanting to sort of โ€“

Prof G Markets
How Influencers Hijacked The Consumer Economy

Thinking it's worth it to spend 30 minutes is not a new thing, but I also think that the way that TikTok has created conversation around it, has created urgency around it, and has essentially created a new content stream, which is I tried the viral thing as a way to go viral, feels really different right now.

Prof G Markets
How Influencers Hijacked The Consumer Economy

I will never say you have to be on social media because I'm exhausted by social media myself.

Prof G Markets
How Influencers Hijacked The Consumer Economy

But I think it's a very powerful lever that businesses can pull.

Prof G Markets
How Influencers Hijacked The Consumer Economy

And I think that if you look at an example like Chili's and their triple dipper, like they have credited in earnings calls that the triple dipper has changed their business.

Prof G Markets
How Influencers Hijacked The Consumer Economy

And that's because it's people posting about it online.

Prof G Markets
How Influencers Hijacked The Consumer Economy

And then you're seeing, I think, when you look at, you know, Dunkin selling a bucket of coffee, that

Prof G Markets
How Influencers Hijacked The Consumer Economy

It has to be in that meeting thinking about how does that show up online?

Prof G Markets
How Influencers Hijacked The Consumer Economy

What type of content are people making about it?

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