Did you know: it’s National Leadership Day! Today’s a great time to tell a leader in your life about how their impact has made a difference in your development.

🧠 Stat Of The Day 🧠

Yelp’s total ad revenue increased by 13% YoY in 2013 to a record $1.28 billion with ad clicks increasing 5% YoY and average CPC increasing 9%. (Source: Yelp)

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⚡️Today’s Headlines⚡️

✅ Meta’s testing fact-check markers on Threads in some regions

😳 Reddit is selling user content in a new AI training deal

🔎 Google’s featuring forums in the search menu bar in a new test

 🤝 Tech companies agreed to a new pact to limit impacts of AI deepfakes

💰 Google is finally repaying advertisers charged in a December glitch

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🛠️ Things Worth Checking Out 🛠️

🔑 UNLOCK GROWTH - Looking to unlock more growth? Hire a team that has done it already. Meet your perfect marketing team in 60 seconds, 100% free here.

🤓 AUTOMATION - Automate your spreadsheet workflows with Coefficient. Sync data from your business systems into Sheets or Excel, and set it on a refresh schedule. Get started for free.

🤖 WEBINAR - How do top Growth teams use AI? Join the CEOs of Ready Set + Motion for a Feb 22 webinar exploring the state of AI in creative and analytics. Sign up here.

✨ Today’s Insight ✨

New Report: Consumers are spending more but buying less

📰 TL;DR - New research from McKinsey shows that U.S. consumers are buying fewer items but spending more on them. Consumer packaged goods (CPG) are deeply falling in volume across categories, declining 2-4% on average.

💡 Insight - Here are some of our key takeaways from the report:

• Consumer purchases occurred at the same, or sometimes higher, frequency than in 2022 but consumers purchased fewer items each time.

• Grocery volume purchases were up by 3% while amount of units purchased per trip were down 4%

  • Similarly, health and beauty were up 2% by change in purchase frequency while amount of units were down 3%

• However, Gen Z purchases for grocery, health, and beauty products increased 10% (an average of 1-2 additional shopping trips per month)

• The top reason consumers said they’ve reduced the number of items they purchase across most categories is because prices have increased

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