News 13.02.2024

Need to Know

Olympic medals designed by Chaumet include fragments from the Eiffel Tower, introducing algae oil and why Gen Z are getting more sleep than their elders at the same age.

Chaumet unveils Paris 2024 medals made from authentic iron from the Eiffel Tower

LVMH and Paris 2024 unveil the medals for the Olympic and Paralympic Games Paris 2024, France

France – In a dazzling display of French savoir-faire Chaumet, the iconic Parisian jeweller, has revealed the design of the Olympic and Paralympic medals for Paris 2024. The unveiling took place at the historic hôtel particulier in Place Vendôme, the residence of the Chaumet jewellery workshop.

As the creative partner of the Olympic and Paralympic Games Paris 2024, Chaumet's parent company LVMH aimed to create medals that celebrate the nation's rich heritage and showcase the Maison's unparalleled craftsmanship. The hexagonal medals, a nod to France and Chaumet's signature styles, are adorned with rays representing the radiance of the nation and the athletes.

The centre of each medal holds a special piece of history – authentic iron from the Eiffel Tower, preserved during its renovation, symbolising a connection to the heart of Paris. The intricate craftsmanship of Chaumet is evident in the 'griffe setting' reminiscent of their high jewellery pieces.

In our Luxury States: New Codes of Luxury 2024–2025 macrotrend report, we highlight how innovative luxury brands must embrace a 360-degree culture strategy to remain relevant – using partnerships with competitions and athlete ambassadors as vessels of soft power and cultural relevancy.

Strategic opportunity

Actively seek sponsorship and partnership opportunities with major events or competitions. This can serve as a platform to showcase your brand's values, craftsmanship and creativity

Could algae oil be the next kitchen staple?

Algae Cooking Club, US Algae Cooking Club, US
Algae Cooking Club, US Algae Cooking Club, US

US – Described as having a ‘subtle, buttery essence’ but neutral flavour, Algae Cooking Club’s versatile new algae oil can be used for frying, baking and emulsifying or as an ingredient in dressings and sauces.

Working with a manufacturer in Brazil, the algae is fermented with sugar for three days before being ‘squeezed’ to produce an oil. This creates a product with a higher smoke point than olive or avocado oil, making it ideal for frying at high temperatures; it also has a high composition of healthy omega-9 fats (93%) while also containing 75% less saturated fats than olive or avocado oil.

Algae Cooking Club describes the oil as ‘earth’s purest cooking oil’ because it is produced without chemicals, solvents, pesticides or blending of oils. It requires less time, water and land for production, reducing its carbon emissions to almost half of those of canola or avocado oils. The 16oz bottle is available for sale online for £19.81 ($25, €23.20) and is expected to reach high-end grocery stores in the US later in February 2024.

Although algae may not be a familiar ingredient in most households, adopting unfamiliar yet eco-friendly food innovations is essential in combatting supply chain fragility amid the climate crisis, a topic we unpacked in our Adaptative Appetites report.

Strategic opportunity

Position your brand or restaurant as an innovator in the sustainability space by collaborating with alternative brands such as Algae Cooking Club to help normalise unconventional ingredients that have a lesser impact on the planet

Apple Podcasts revolutionises accessibility with transcripts feature

Global – Apple's Podcasts app is set to introduce a transcripts feature in the iOS 17.4 update scheduled for March 2024, enhancing accessibility for users globally. Transcripts will be automatically generated for English, French, German and Spanish-language podcasts, covering more than 170 countries and regions.

The innovative feature allows users to seamlessly search transcripts for specific words and phrases, jump directly to desired podcast segments and even edit transcriptions. Apple ensures accessibility by highlighting each word as it is spoken, offering an inclusive experience for a diverse audience.

While Apple's software can auto-generate transcripts, podcasters have the option to provide their own or edit the company's generated transcripts. 'Touch and hold a podcast episode to reveal an option to view a transcript,' reads Apple Podcast's press release. Transcripts for back catalogue episodes will be 'added over time' according to The Verge.

In our Audio to Watch microtrend report, we previously analysed how platforms, including Spotify, TikTok, Twitch and YouTube, have educated consumers into developing a unique sensitivity to user experience and an interest in hybrid content, translating sounds into visuals and now text.

Photography by SHVETS Production, Global

Strategic opportunity

As explored in our analysis of the future of podcasts, the sky is the limit when it comes to monetising podcast content better. Thanks to the enhanced searchability of podcast transcripts, advertisers could target specific keywords within the transcripts for more targeted and relevant product placement

Stat: Gen Z are opting for early bedtimes over late-night revelry

Photography by Anna Shvets, Russia Photography by Anna Shvets, Russia

US – As nightlife preferences evolve, a notable shift is observed among young adults, with many prioritising sleep over traditional late-night outings. A cultural transformation is evident, driven by heightened awareness of the health benefits associated with adequate rest. This shift in mindset has led to an uptick in average sleep durations among individuals in their 20s to nine hours and 28 minutes in 2022. Analysis reveals that this is an 8% increase from the eight hours and 47 minutes reported in 2010 figures.

Correspondingly, businesses are adapting to this trend, with bars and clubs diversifying their offerings to accommodate daytime activities such as matinee dance parties. Early evening reservations are on the rise, with seatings between 4pm and 6pm making up 31% of Yelp reservations. Establishments are noting a decline in foot traffic between 6pm and midnight.

Cities including New York are witnessing the emergence of daytime social events, with venues such as Joyface pioneering early dance parties to cater for the evolving preferences of their clientele. This cultural shift underscores a broader societal recognition of the importance of prioritising sleep and dedication to getting a perfect night’s rest, a topic we explore further in Sleep Enhancement Market.

Strategic opportunity

Hospitality businesses should go beyond simply adapting to changing routines; consider how you can create the optimum sleep space and market yourself to consumers as leaders in sleep tourism

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