A new wave of startups are trying to change the digital advertising industry.
They're pitching new tech for cookieless ads, streaming TV, and influencer marketing.
Here are 24 pitch decks that startups have used to attract investors.
After years of challenges securing funding, a new wave of advertising startups is raising millions.
These companies aim to solve the industry's big challenges, such as the death of third-party cookies, the shift from linear to streaming TV budgets, and helping advertisers run influencer marketing campaigns.
But unlike their predecessors, these new startups are significantly smaller and more focused than many of the early digital advertising companies that raised hundreds of millions of dollars, like MediaMath and Millennial Media.
Business Insider spoke with founders about how they convinced investors to buy into their companies.
For example, ID5 sells to brands and publishers an ID product that doesn't use third-party cookies. Companies like Vibe, Telly, and TVScientific aim to shake up how advertisers buy and measure TV ads. Other companies like FreshSound and Catch+Release are focused on helping marketers license media for use in their campaigns.
Here are 24 pitch decks that top execs and founders have used to sell investors on their companies.
The West's sanctions against Russia triggered a "dramatic" inflation problem.
That's according to economist Jeff Rubin, who says the US is feeling the blowback of its economic war on Russia.
The US miscalculated when it imposed harsh sanctions on Russia, and not only has Vladimir Putin's economy weathered the impact, but the West is facing the negative effects of the economic restrictions it imposed.
That's according to Jeff Rubin, an economist who thinks the West may have opened "Pandora's box of unintended consequences" by enforcing tight restrictions after Russia's invasion of Ukraine.
"The most obvious of those consequences is the resurrection of inflation, which had been long buried for more than four decades. Sanctions were the trigger for its dramatic revival," Rubin wrote in an op-ed for The Globe and Mail on Friday.
The US and other Western nations have introduced a host of sanctions targeting Russian goods, including bans on Russian energy flows and a $60 price cap on Russian oil traded using Western shipping and insurance firms.
Those measures have helped crimp Moscow's war revenue, but they've likely also resulted in higher prices for Western consumers, Rubin said. Food and energy prices have soared since the West imposed sanctions on Russia, he noted partly because Russia is one of the world's largest exporters of oil and grain.
Inflation could worsen if US trade with Russia's allies, like China, becomes impacted, Rubin said. US firms are at risk of shifting their operations to countries that are on more friendly terms with the US, but America's closest allies are countries where workers earn high wages, which can push prices up for consumers.
"That, in turn, has forced a crippling rise in interest rates, as central banks such as the Federal Reserve Board and the Bank of Canada were reluctantly forced to respond by raising their target interest rates from near zero to the 5-per-cent range," he added.
Rubin notes that Russia had quietly sanction-proofed much of its economy leading up to the invasion, while the BRICS bloc of nations expanded and became more intertwined. This helped insulate Russia against the measures, and rising economies in the global south helped Putin blunt the impact of sanctions.
"That proved to be a fatal miscalculation. Whereas in the past the loss of Western markets – particularly for Russian energy exports, the lifeblood of Moscow's war machine – would have dealt a fatal blow to the Russian economy, that certainly is no longer the case."
Even the US dollar may end up worse off due to sanctions, Rubin said. Russia has been coordinating with its allies to shift away from using the US dollar for trade. Russia's trade with China, for instance, has nearly completely phased out the dollar, Russian officials said last year.
"Sanctioning the ruble and confiscating a third of the Russian central bank's foreign reserves was supposed to cripple the Russian economy. Instead, it has cost the US dollar its five-decade status as the petrocurrency of the world and may soon cost it even more: its once unrivalled position as the sole reserve currency in the world," Rubin wrote.
U.S. Air Force and Navy and Japanese air force aircraft perform a wing capabilities demonstration during a readiness exercise at Misawa Air Base, Japan, May 13, 2022.
Air Force Airman 1st Class Leon Redfern
US bases and aircraft are extremely vulnerable to Chinese missiles, American lawmakers warned in a new letter.
US Pacific bases lack sufficient passive defenses, including hardened aircraft shelters, to survive missile barrages.
In a letter to the Navy and Air Force secretaries, officials demanded "immediate changes."
US bases and aircraft in the Pacific are facing intense threat from Chinese missiles, and the Pentagon isn't doing enough to counter that challenge, according to American lawmakers.
In a Wednesday letter to Air Force Secretary Frank Kendall and Navy Secretary Carlos Del Toro, 13 members of Congress pointed out glaring vulnerabilities in the Pacific region and demanded "immediate changes."
"We are concerned about the alarming lack of urgency by the Department of Defense in adopting such defensive measures," these lawmakers, including the Chairman of the Select Committee on the Chinese Communist Party Rep. John Moolenaar, wrote, referring to the need for more passive defenses, such as hardened aircraft shelters and the dispersal of forces.
The letter paints a dire picture: China has a formidable, threatening missile force with surging numbers of ballistic missiles and launchers, significant reach, and an ability to potentially overwhelm US defenses in the Pacific.
"With its current strike capabilities," the lawmakers wrote, "China can attack all US bases in the region, targeting US service members from Okinawa to those on US territories of Guam and the Commonwealth of the Northern Mariana Islands."
And the consequences of that are severe in a potential conflict, immobilizing air assets and impeding the ability of American forces and its allies to respond to a major war in the Pacific.
A U.S. Air Force Rockwell B-1B Lancer (L) and a Boeing KC-135 Stratotanker (R) sit on the tarmac at Andersen Air Force base on August 17, 2017, in Yigo, Guam.
Justin Sullivan/Getty Images
In the letter, lawmakers note that many of the US bases in the Pacific remain unhardened, leaving aircraft and assets vulnerable to missile strikes.
Military aircraft are exposed on airfields and in easily detectable and identifiable hangers, and while active defenses such as air- and missile-defense systems are deployable, the sheer amount of Chinese missiles capable of being fired means that bases also need to have passive defenses and sufficient capabilities to get the US back into the fight in the aftermath of a strike. These could be solutions ranging from hardened shelters and underground bunkers to rapid runway repair capabilities.
The lawmakers also wrote that "it is apparent that the Pentagon is not urgently pursuing needed passive defenses," referencing ongoing research by Tom Shugart, a former US Navy officer who is now an adjunct senior fellow at the Center for a New American Security think tank, and Timothy A. Walton, a senior fellow at the Hudson Institute.
The letter shared preliminary information from Shugart and Walton showed a "staggering" difference between the number of Chinese and US hardened aircraft shelters in the Pacific, noting China had built more than 400 compared to just 22 by the US. Notably, none of the US shelters were in Guam — home to Andersen Air Force Base which routinely hosts American bombers.
While none of these efforts would provide complete protection from China's missiles, they would be an upgrade, increasing survivability and thus forcing China to scale up its barrages.
China would have to invest more into a strike to achieve a similar outcome, perhaps demanding more from the People's Liberation Army Rocket Force than it is prepared to give.
Lawmakers noted that no base hardening projects in the Pacific were part of the fiscal year 2024 budget and also highlighted the unfunded projects in the region that "reflect a profound lack of seriousness in strengthening the US bases closest to China and thus most vulnerable to Chinese strikes."
Military vehicles carrying DF-26 ballistic missiles, drive past the Tiananmen Gate during a military parade to mark the 70th anniversary of the end of World War Two on September 3, 2015, in Beijing, China.
Andy Wong – Pool /Getty Images
The grave assessment comes as the US looks toward China as its "pacing challenge" and more defense officials and experts acknowledge a clear lack of readiness for potential conflict with Chinese forces.
Last fall, the Pentagon's report on China's military documented a significant build-up across its branches, particularly in its Rocket Force. All of China's missiles able to target US forces across the Pacific region increased in number from 2021 to 2022, with some stockpiles even doubling.
While the US is adapting to the threat as it prepares for potential great-power conflict with China, former and current military leaders as well as experts and analysts have told Business Insider there's more work to be done, especially when it comes to defending against China's missiles.
Tesla boss Elon Musk (L) walks with Shanghai Mayor Ying Yong during the ground-breaking ceremony for a Tesla factory in Shanghai on January 7, 2019.
STR via Getty Images
The Biden administration is set to raise tariffs on China EVs from 25% to roughly 100%.
Wedbush's Dan Ives told Bloomberg on Friday that China is very likely to retaliate against the move.
Ives said rising competition from cheap Chinese EVs would pose risks to the US domestic EV market.
China is likely to retaliate against the move by President Joe Biden's administration to impose new tariffs on electric vehicles from China, says Wedbush's analyst Dan Ives.
The Wall Street Journal reported on Friday that the White House is set to increase tariffs on China EVs from about 25% to roughly 100%, alongside an extra 2.5% duty on all imported cars into the US. The tariffs will also hit other sectors, including solar goods and minerals, according to the Journal.
"Retaliatory definitely could happen. This Game of Thrones continues to play out," Ives said in an interview with Bloomberg on Friday, noting that the added competition from cheap EVs hitting the US market would be tough for Tesla to deal with.
China's major EV producer, BYD, has avoided the US market due to the trade barriers, but its ambition of selling its cars in the US are growing.
"When you look at BYD, when you look at Nio and others that come to the US, it's a major competitive issue," he said. Ives emphasized, too that it wouldn't just be Tesla in the crosshairs of new competition. Legacy automakers would also take a hit given their large bets on EVs, so the tariffs would protect the Detroit car companies as well as Tesla.
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The best Apple Watch fits your budget and needs for health monitoring tools with worthwhile features.
Antonio Villas-Boas/Business Insider
Every Apple Watch is an extension of your iPhone that delivers notifications, takes or makes calls, sends messages, and shows you a variety of information depending on the widgets you choose. Each model, however, comes with (or without) various features, and their price tags reflect that fact. The best Apple Watch for you will fit your needs, whether it's health monitoring tools or an always-on display.
Our pick as the best Apple Watch for the vast majority of people is the Apple Watch Series 9. It features an always-on display, a fast processor, enhanced screen brightness, and a handy new single-handed gesture that improves accessibility. The second-generation Apple Watch SE is a more affordable and basic version of the Series 9 that doesn't include an always-on display or an ECG sensor. It's still a fantastic smartwatch for the price that comes with everything most people would ever need.
Best for fitness and outdoors: Apple Watch Ultra 2 – See at Amazon
Best overall
The Apple Watch Series 9 is our pick as the best wearable in Apple's lineup. No other wearable offers the same premium combination of smartwatch functionality, fitness and health tracking capability, and overall value as the Series 9.
Although the Series 9 isn't a massive leap over the previous generation Series 8, it did introduce a few new features, like a faster new processor, on-device Siri access, SmartStack functionality, and a brighter display. Other additions include updated hiking and cycling feedback, more mental health tools, and a new ultra-wideband chip that greatly improves location accuracy.
The Series 9 boasts a fast, powerful processor, intuitive smartwatch functionality, and the useful new Double Tap Gesture.
Rick Stella/Business Insider
While those upgrades are useful, my favorite new feature is the double tap gesture, which allows you to interact with the watch by double-tapping your thumb and index finger. Doing this controls an app's primary button, so you can answer or hang up a phone call, start or stop a timer, or snap a photo while in the camera.
The brighter screen is also a nice new touch, allowing for (even) better visibility in bright conditions, even if it wasn't much of a problem in the last few generations. The screen can also dim to one nit, which is especially useful in a movie theater or wherever darkness is key, like putting a baby in a crib (speaking from personal experience).
Another feature I found highly useful was the new Smart Stack display, which is essentially a customizable group of widgets accessible on the watch's home screen. These can include a glance at the weather, whatever calendar events you might have for the day, or even a snippet of the news.
Overall, the Series 9 is a powerful smartwatch. There are many differences when comparing the Series 9 vs. the Ultra 2, but the new Double Tap Gesture, brighter screen, Smart Stack display, and improved health and fitness tracking tools make the Series 9 noticeably more capable than the Series 8. These features make it the best Apple Watch you can buy. However, note that the blood-oxygen measuring feature on the Apple Watch Series 9 is currently disabled due to a patent dispute.
The second-generation Apple Watch SE is surprisingly affordable for such a feature-packed smartwatch and is, by far, the best Apple Watch for those on a budget. It's nearly, if not just as capable as the Series 9 and Ultra 2 for tracking fitness, sleep, checking notifications, taking calls, and ensuring you're OK with health and safety features like Crash Detection, Fall Detection, heart rate monitoring, sleep tracking, and more.
The Apple Watch SE is notably missing an always-on display, which can be the biggest deciding factor whether you go for the SE or the Series 9 (or the Ultra 2). Compared to the Series 9, the SE doesn't feature an electrocardiogram sensor for ECG readings or skin-temperature sensors for advanced period tracking and additional sleep tracking measurements.
The second-gen SE is the best option for first-time wearers or casual users who won't be bothered by the lacking always-on display.
Antonio Villas-Boas/Business Insider
For first-time buyers, the SE will make you wonder how you ever lived without one. It's incredibly convenient to get notifications, send texts, make calls, and customize the Apple Watch face with all the widgets and information you find useful — and it does all this without you needing to pull out your phone.
At least, opting for the SE lets you get a better idea of the Apple Watch's baseline features starting at $249. From there, you can consider if features like always-on display and the latest health sensors are worth the upgrade. If not, then the second-gen SE is your best option.
The Apple Watch Ultra 2 doesn't represent a drastic improvement over its predecessor, but it did usher in a few new features designed specifically for the outdoor user. These include the brightest screen of any Apple Watch, which allows for improved visibility in bright light conditions, an upgraded altitude range, and new water sports features for scuba diving and freediving.
The Ultra 2 also shares some new features that debuted on the Series 9, such as the new double tap gesture, the new S9 processor, and on-device Siri access. The double tap gesture, specifically, improves the wearable's accessibility. With this feature active, users can simply double-tap their thumb and index finger to interact with the watch, be it to start or stop an alarm or pick up or end a phone call, among others.
Much of the rest of the Ultra 2 is rolled over from the original model, including its overall design, which features a corrosion-resistant titanium casing and a 49mm screen.
The Apple Watch Ultra 2 is the best option for outdoor enthusiasts and those who want longer battery life.
Rick Stella/Business Insider
Battery life is a major highlight of the Ultra 2, as it can last upwards of three days on a single charge, which is roughly double what we've gotten out of the Series 9. The exact amount of battery life depends on how often the GPS is used, and whether the Always-On display is on, but the difference in the frequency of charging the Ultra 2 compared to the Series 9 is apparent.
Arguably, the Ultra line's best feature, the unique Action Button, returns and functions the same on the Ultra 2 as on the previous model. It is still capable of starting and stopping workouts or being programmed to sync with various shortcuts.
The sum of these parts may not be enough to sway the casual user into spending $800 on the watch, but it remains a highly worthwhile tool for avid outdoor enthusiasts and serious athletes. (Note that the blood-oxygen measuring feature on the Apple Watch Ultra 2 is currently unavailable due to a patent dispute.)
An older Apple Watch model may have too short a support window to justify a purchase.
Antonio Villas-Boas/Business Insider
Even though it's possible to find refurbished versions of the hugely popular Apple Watch Series 3 for around $100, we wouldn't recommend it, namely because it's discontinued and no longer supports the latest versions of WatchOS. It should go without saying that we don't recommend the Series 1 or 2 either.
If you can find Series 5 or 6 refurbished for between $100 and $150, they include an always-on display, a major advantage over the Series 4 and even the current SE. Plus, they'll have more life in terms of support and performance than the Series 4.
Still, buying an older refurbished Apple Watch could be more of a hassle than it's worth. Older models have shorter support windows than newer and current models, which means you'd have to buy another Apple Watch sooner than you might want to — if you want to keep up with security and watchOS updates.
What to look for in an Apple Watch
The latest Apple Watch models offer a slate of worthwhile features.
Rick Stella/Business Insider
There are many reasons to buy one of the best Apple Watches; understanding them can help you know what to look for. Each Apple Watch is also among the best fitness trackers you can buy and offers unique health monitoring tools that can positively impact your wellness.
For health and fitness tracking, you'll want to review which model offers what sensors. The latest Apple Watch models include a heart rate monitor, the newest gyroscope, and a high-g accelerometer that powers Apple's Crash Detection feature.
For day-to-day tasks, you'll more or less get the same experience thanks to each watch supporting the latest WatchOS software. But if you want an always-on display, which we think could make or break a decision, you should consider the Series 9 as your best Apple Watch. Likewise, if you want the biggest screen and the best battery life, there's the Ultra 2.
After that, it's deciding whether you want the smaller or larger models of a specific Apple Watch series. It's mostly down to personal preference and your comfort levels, and it makes no difference to battery life. Larger screens make it easier to read and control with on-screen items, but smaller models are still large enough to offer a good experience.
How we test Apple Watches
We put each Apple Watch model through standard usage and testing.
Rick Stella/Business Insider
We can assess the best Apple Watch in a relatively short time thanks to our extensive personal experience with the wearables, as we've reviewed them professionally through the generations.
The best way to test these wearables is to wear and use them daily with an iPhone as if they were our own for at least a week, often longer. We focus on ease of use, performance, usefulness, features and sensors, battery life, and how their price relates to the overall experience.
During testing, we assess all these aspects during various activities, like a workout, running errands, lounging, sleeping, and traveling (when possible). We actively test notifications, calls, messages, settings and options, and customization, and we note where an Apple Watch excels or lacks.
We don't perform tests that could damage our review unit or ourselves (Crash Detection). At the same time, we don't take special care of our Apple Watch review units and subject them to typical wear and tear from normal usage.
We also look at how the new models compare to older models and lay out the benefits of upgrading from various older models. Looking at the specific model changes and upgrades year-over-year helps us choose the overall best models.
The best Apple Watch bands to buy
Pick the right Apple Watch band for your needs.
Business Insider
One of the Apple Watch's best features is its ability to use different watch straps and band types. This versatility allows you to swap on the best Apple Watch bands suited to a specific activity or event, such as a sports band for working out or a metal band for wearing to work.
For more style inspiration, check out our other band guides:
What is the difference between GPS and GPS + Cellular models?
A GPS-only model lets you carry out tasks like receiving text messages, answering phone calls, and receiving notifications when it's connected and close to your iPhone via Bluetooth or WiFi. GPS-only models are cheaper than cellular models.
A GPS + Cellular model offers increased connectivity with the addition of built-in cellular. That means you can receive text messages, answer calls, and stream music — even if you don't have your iPhone with you. You just need to add the watch to your current carrier plan. Most carriers charge $10 a month for a watch-compatible cellular plan.
Does the Apple Watch use data?
Only the GPS + Cellular models with a separate data plan use data from your carrier if you don't have your iPhone nearby. Otherwise, Apple Watches are simply extensions of your iPhone and don't use more data than you would on your iPhone if it's nearby.
Do Apple Watches work with Android?
The short answer is no. An Apple Watch will not pair seamlessly with an Android phone. Even if you get a GPS + Cellular model that doesn't rely on an iPhone connection, an iPhone is required for setup. You also need an iPhone to download apps onto it.
While the Apple Watch is one of the best smartwatches, Android users should instead consider purchasing one of the best Android smartwatches to use something that's 100% compatible with their phone.
Is the Apple Watch waterproof?
No Apple Watch is "waterproof," but they are water resistant, which means they can sustain splashes and submersion down to a certain depth. The SE and Series 9 can go down as far as 50 meters, or around 164 feet. The Ultra 2 supports depths of 100 meters, or 328 feet, and 40 meters (131 feet) for recreational dives.
What is the best Apple Watch for kids?
If you want a way for your kid to stay connected without giving them a smartphone, an Apple Watch could be your answer. For kids, we recommend the second-generation Apple Watch SE in the 40mm, GPS + Cellular model. You can use Family Setup, which allows you to choose what apps and services your kids can access and who they can call or send messages to.
Is the Series 8 outdated with the release of the Series 9?
No, not at all. Although Apple doesn't sell the Series 8 anymore, that doesn't mean it's no longer supported. The Series 8 is compatible with the new operating system, WatchOS 10, which debuted alongside the Series 9 and Ultra 2, which means that many of the software features debuted on the latest models will also be available on the Series 8 once it upgrades to WatchOS 10.
How often should I upgrade my Apple Watch?
The decision to upgrade to a newer Apple Watch depends on several factors. First, is there a new feature native to one of the newer models you'd like to use? For instance, the new Double Tap Gesture released on the Series 9 and Ultra 2 can only be used on those models.
You may also consider upgrading if your watch isn't compatible with the latest operating system. Regarding the new WatchOS 10, any Series 4 or newer model is compatible.
Another reason you may want to upgrade is if you'd like to move from the Series line to the Ultra line. In this scenario, even Series 9 users may consider upgrading to the Ultra 2 to take advantage of its unique features, like its longer battery life, the useful Action Button, and the bigger design.
Best overall: Apple Watch Series 9
The Apple Watch Series 9 boasts a fast, powerful processor, intuitive smartwatch functionality, and the useful new Double Tap Gesture.
Rick Stella/Business Insider
The Apple Watch Series 9 is our pick as the best wearable in Apple's lineup not because it's a huge upgrade over its predecessor, the Series 8, but because it delivers one of the finest smartwatch experiences. No other wearable offers the same premium combination of smartwatch functionality, fitness and health tracking capability, and overall value as the Series 9.
Although the watch carries over much of what was already native to the Series 8, it did introduce a few new features. These include a fast new processor chip, on-device Siri access, SmartStack functionality, and a brighter display. Other additions include updated hiking and cycling feedback, more mental health tools, and a new ultra-wideband chip that greatly improves location accuracy.
While those upgrades are useful, my favorite new feature is the Double Tap Gesture which allows you to interact with the watch by double-tapping your thumb and index finger. Doing this controls an app's primary button, so you can answer or hang up a phone call, start or stop a timer, or snap a photo while in the camera.
The brighter screen is also a nice new touch, as this allows for better visibility in high-lighting conditions. The screen can also dim to one nit, which is especially useful in a movie theater.
Another feature I found highly useful was the new Smart Stack display, which is essentially a customizable group of widgets accessible on the watch's home screen. These can include a glance at the weather, whatever calendar events you might have for the day, or even a snippet of the news.
The sum of these parts makes the Series 9 a powerful smartwatch. The new Double Tap Gesture, brighter screen, Smart Stack display, and improved health and fitness tracking tools make it noticeably more capable than the Series 8 — and give it the title of the best Apple Watch you can buy.
The Apple Watch Series 8 is nearly identical to the Series 9, and you may be able to find it for a lower price, whether new or refurbished.
Antonio Villas-Boas/Insider
Although Apple discontinued the Series 8 in favor of the Series 9, it's still the same do-it-all wearable that nearly stands toe-to-toe with the new flagship. Slim bezels, check. Smooth performance, check. Always on display, check. All of Apple's latest health sensors, impressive battery life, and safety features like Crash Detection? Check, check, and check.
Better yet, the Series 8 is now the best discounted Apple Watch, costing roughly $319 for the 41mm model and $379 for the 45mm model, which puts it between the SE and Ultra models in terms of price and capabilities.
A display with an always-on option may sound minor but it's a quality-of-life feature that makes a big difference. It means you can glance at your watch to tell the time or check a notification without making a wrist gesture to wake the screen. It's handy whether you don't want to appear rude by checking your watch, or don't want to deal with inconsistent gesture recognition, which sometimes happens with the Apple Watch SE.
It also features Crash Detection, designed to automatically contact emergency services in the event of a car crash. The Series 8 is also compatible with a variety of the best Apple Watch bands, like sports bands, metal bands, and designer options (and make sure you clean your bands often, too).
Generally, there's a lot to love about the Apple Watch's latest operating system, watchOS 10, which is also compatible with the Series 8. The watch supports fast charging, which makes a meaningful difference if you need a quick top-off before you set off. All told, there's not a ton of difference between the Apple Watch Series 9 vs. the Series 8, so if you can find the Series 8 at a solid discount, it's worth every penny.
Best for athletes and adventurers: Apple Watch Ultra 2
The Apple Watch Ultra 2 is the best option for outdoor enthusiasts and those who want longer battery life.
Rick Stella/Business Insider
The second-generation Apple Watch Ultra 2 doesn't represent a drastic improvement over its predecessor but it did usher in a few new features designed specifically for the outdoor user. These include the brightest screen of any Apple Watch which allows for improved visibility in bright light conditions, an upgraded altitude range, and new water sports features for scuba diving and freediving.
The Ultra 2 also shares some of the new features debuting on the Series 9 such as the new Double Tap Gesture, the new S9 processor chip, and on-device Siri access. The Double Tap Gesture, specifically, is a great new feature that improves the wearable's accessibility. With this feature active, users can simply double-tap their thumb and index finger to interact with the watch, be it to start or stop an alarm or pick up or end a phone call, among others.
Much of the rest of the Ultra 2 is rolled over from the original model, including its overall design which again features a corrosion-resistant titanium casing and a 49mm screen. Though it features a raised lip around the display to reduce the risk of cracks and scratches, we do recommend picking up one of the best Apple Watch screen protectors to further protect the watch.
Battery life is a major highlight of the Ultra 2 as it's capable of lasting upwards of three days on a single charge, which is roughly double what we've gotten out of the Series 9. The exact amount of battery life depends on how often the GPS is used, and whether the Always-On display is on, but the difference in the frequency of charging the Ultra 2 compared to the Series 9 is apparent (be sure to calibrate your Apple Watch, as well).
Arguably the Ultra line's best feature, the unique Action Button, returns and functions the same on the Ultra 2 as it did on the previous model. It still is capable of starting and stopping workouts or being programmed to sync with a variety of shortcuts.
The sum of these parts may not be enough to sway the casual user into spending $800 on the watch, but it remains a highly valuable investment for avid outdoor enthusiasts and serious athletes.
And if you already own an Ultra, or picked up the new Ultra 2, do take a look at our guide on the best Apple Watch Ultra 2 bands.
The Apple Watch SE is the best option for first-timers trying out the Apple Watch or casual users who won't be bothered by the lacking always-on display.
Antonio Villas-Boas
The Apple Watch SE is surprisingly affordable for such a feature-packed smartwatch and is, by far, the best Apple Watch for folks on a budget. It's just as capable as the Series 8 and Ultra for tracking fitness, sleep, checking notifications, taking calls, and making sure you're OK with health and safety features like Crash Detection, Fall Detection, heart rate monitoring, sleep tracking, and more.
It compromises slightly on design with thicker borders around the display but we never found that it looked dated during testing. It's available in both 40mm and 44mm options.
If you're considering the Apple Watch SE, you're most likely looking at the Series 8, too. The most significant difference between the Apple Watch SE vs. the Apple Watch Series 8 is whether you're willing to pay more for a bigger display with an always-on option, plus electrocardiogram and skin-temperature sensors. Those looking for Apple's latest and greatest in health sensors should upgrade to the Series 8.
If those tools don't interest you, the SE is the best budget Apple Watch that's an ideal and affordable option.
For first-time buyers, the Apple Watch SE will make you wonder how you ever lived without one. It's incredibly convenient to get notifications, send texts, make calls, and customize the Apple Watch face with all the widgets and information you find useful — and it does all this without you needing to pull out your phone.
If anything, opting for the SE lets you get a better idea of the Apple Watch's baseline features starting at $249. From there, you can consider if features like always-on display and the latest health sensors are worth the upgrade. If not, then the SE is the best Apple Watch to buy.
Don't buy the Apple Watch Series 3 or older, even if you can get them for a very low price.
Hollis Johnson
Even though it's possible to find refurbished versions of the Apple Watch Series 3 for around $100, we wouldn't recommend it, namely because the Series 3 is discontinued and no longer supports the latest versions of WatchOS. It should go without saying that we don't recommend the Series 1 or 2 either.
The Series 4 still has some life in terms of support and performance, but it'll likely lose support soon — perhaps as early as September 2023 when Apple announces new Apple Watch models.
If you can find Series 5 or 6 for between $150 and $200 refurbished, they both include an always-on display, which is a major advantage over the Series 4, and even the current SE. Plus, they'll have more life in terms of support and performance than the Series 4.
You can even find the first generation Apple Watch SE for $200 new from Walmart. Even if you're spending $100 more than you would on a refurbished Series 3, it poses significantly better value with its newer processor and sleeker display.
What to look for in an Apple Watch
Certain Apple Watch models have health sensors that could make the decision for you, and the always-on display is a pretty big factor to consider.
Antonio Villas-Boas/Insider
There are many reasons to buy one of the best Apple Watches, and understanding them can help you hone in on what to look for. Apple Watches are excellent for fitness and health tracking, as well as streamlining routine tasks and giving you access to your phone while it's in your pocket.
For health and fitness tracking, you'll want to review which model offers what sensors. All the best Apple Watch models include a heart rate monitor, as well as the latest gyroscope and high-g accelerometer that power Apple's Crash Detection feature.
The Series 8 and Ultra have expanded capabilities, including temperature sensors for ovulation tracking. Ultimately, you may decide that features like these are the deciding factor, and want to look into the best fitness trackers instead.
For day-to-day tasks, you'll more or less get the same experience thanks to each watch supporting the latest WatchOS software. But if you want an always-on display, which we think could make or break a decision, you should consider the Series 8 as the best Apple Watch for you. Likewise, if you want the biggest screen and the best battery life, there's the Ultra.
After that, it's deciding whether you want the smaller or larger models of a specific Apple Watch series. It's mostly down to personal preference and your comfort levels, and it makes no difference to battery life. Larger screens do make it easier to read and control with on-screen items, but smaller models are still large enough to offer a good experience.
How we test Apple Watches
The Insider Reviews team tests all Apple Watches.
Rick Stella/Insider
We can assess the best Apple Watch in a relatively short amount of time thanks to our extensive personal experience with the wearable, as well as reviewing them professionally through the generations.
The best way to test Apple Watches is to wear and use them daily with an iPhone as if they were our own for at least a week, often longer. We focus on ease of use, performance, usefulness, features and sensors, battery life, and how their price relates to the overall experience.
During testing, we assess all these aspects during various activities, like a workout, running errands, lounging, sleeping, and traveling (when possible). We actively test notifications, calls, messages, settings and options, and customization, and we note where an Apple Watch excels or lacks.
We don't perform tests that could damage our review unit, or ourselves (Crash Detection). At the same time, we don't take special care of our Apple Watch review units, and we subject them to typical wear and tear from normal usage.
We also look at how the new models compare to older models and lay out the benefits of upgrading from various older models. Looking at the specific model changes and upgrades year-over-year helps us choose the best Apple Watch.
The best Apple Watch bands to buy
Business Insider
One of the Apple Watch's best features is its ability to use different watch straps and band types. This allows you to swap the band to something best suited to a specific activity or event, such as a sports band for working out or a metal band for wearing to work.
The bands are easy to swap out, too. With a simple press of two buttons on the underside of the Apple Watch, the current strap slides out, allowing a different band to slot in.
For style inspiration, check out our guides to the best Apple Watch bands:
What is the difference between GPS and GPS + Cellular models?
An Apple Watch GPS-only model lets you carry out tasks like receiving text messages, answering phone calls, and receiving notifications when it's connected and close to your iPhone via Bluetooth or WiFi. GPS-only models are cheaper than cellular models.
A GPS + Cellular Apple Watch offers increased connectivity with the addition of built-in cellular. That means you can receive text messages, answer calls, and stream music — even if you don't have your iPhone with you. You just need to add the Apple Watch to your current carrier plan. Most carriers charge $10 a month for an Apple Watch cellular plan.
Does the Apple Watch use data?
Only the GPS + Cellular Apple Watch models with a separate data plan use data from your carrier if you don't have your iPhone nearby. Otherwise, Apple Watches are simply extensions of your iPhone and don't use more data than you would on your iPhone if it's nearby.
Do Apple Watches work with Android?
The short answer is no. An Apple Watch will not pair seamlessly with an Android phone. Even if you get a GPS + Cellular model that doesn't rely on an iPhone connection, an iPhone is required for setup. You also need an iPhone to download apps onto it.
No Apple Watch is "waterproof" but they are water resistant, which means they can sustain splashes and submersion down to a certain depth. The SE and Series 9 can go down as far as 50 meters, or around 164 feet. The Ultra 2 supports depths of 100 meters, or 328 feet, as well as 40 meters (131 feet) for recreational dives.
What is the best Apple Watch for kids?
If you want a way for your kid to stay connected without giving them a smartphone, an Apple Watch could be your answer. For kids, the best Apple Watch we recommend is the 40mm SE GPS + Cellular model. You can use Family Setup, which allows you to choose what apps and services your kids can access, and who they can call or send messages to.
Is the Series 8 outdated with the release of the Series 9?
No, not at all. Although Apple doesn't sell the Series 8 anymore, that doesn't mean it's no longer supported. This is especially true considering the fact the Series 8 is compatible with the new operating system, WatchOS 10, which debuted alongside the Series 9 and Ultra 2. This means that many of the new software features that debuted on the new models will also be available on the Series 8 once it upgrades to WatchOS 10.
How often should I upgrade my Apple Watch?
This depends on a few different factors. First, is there a new feature native to one of the later Apple Watch models that you'd like to use? For instance, the new Double Tap Gesture that was released on the Series 9 and Ultra 2 is only able to be used on those models.
You may also consider upgrading if your watch isn't compatible with the latest operating system. Regarding the new WatchOS 10, any Apple Watch that is a Series 4 or newer is compatible.
Another reason you may want to get a new Apple Watch is if you'd like to upgrade from the Series line to the Ultra line. In this scenario, even users of the Series 7 may consider upgrading to the Ultra to take advantage of its unique features like its longer battery life, the useful Action Button, and the bigger design.
Westpac Banking Corp (ASX: WBC) shares were in the spotlight last week when Australia’s oldest bank released its eagerly anticipated half year results.
For the six months ended 31 March, Westpac reported a net profit before one-offs came in at $3,506 million.
This is an 8% decline on the prior corresponding period but a far more modest 1% reduction on the second half of FY 2023.
Despite the softer profits, the Westpac board decided to reward its shareholders with a dividend increase. The bank declared a fully franked interim dividend of 75 cents per share, which is a 7.1% increase on the prior corresponding period.
But the Westpac board didn’t stop there. Thanks to its strong balance sheet, it added a surprise 15 cents per share special dividend into the mix, as well as an additional $1 billion on-market share buyback.
Unfortunately for income investors, Westpac’s shares have now traded ex-dividend for both its interim dividend and special dividend. This means it is too late to receive these payouts unless you were a shareholder before the ex-dividend date.
But don’t worry, there are more dividends on the way. But how big will they be? Let’s take a look at what analysts are forecasting for the Westpac dividend following this result.
Westpac dividend forecast
According to a note out of Goldman Sachs, its analysts have lifted their Westpac dividend estimates in response to its half year results.
The note reveals that Goldman now expects a fully franked $1.65 per share dividend in FY 2024. Based on the current Westpac share price of $26.66, this equates to a 6.2% dividend yield.
Looking ahead, the broker now expects a $1.50 per share fully franked dividend in FY 2025. This is up from its previous estimate of $1.44 per share and represents a 5.6% dividend yield.
It is the same story in FY 2026, with Goldman now expecting another $1.50 per share dividend instead of $1.44 per share previously. This will mean another attractive 5.6% dividend yield for income investors that year.
This trend is expected to continue in FY 2027, with its analysts pencilling in another $1.50 per share fully franked dividend. This of course represents a third consecutive 5.6% dividend yield for investors to look forward to.
Overall, the outlook for the Westpac dividend has improved since the release of the bank’s results and above-average yields are on the cards for the foreseeable future.
Should you invest $1,000 in Westpac Banking Corporation right now?
Before you buy Westpac Banking Corporation shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Westpac Banking Corporation wasn’t one of them.
The online investing service heâs run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
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Motley Fool contributor James Mickleboro has positions in Westpac Banking Corporation. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
Deciding which ASX shares to buy for your superannuation fund is not easy. After all, you have toiled all your working life to earn this money, and hopefully, it will afford you a happy, financially secure, and stress-free retirement.
Likewise, your super investment is not something you should constantly meddle with. This means you’ll want the ASX shares within it to be high-quality companies you can hold for the long term — not risky stocks you need to dip in and out of regularly.
Whether you run your own self-managed super fund (SMSF) or simply like to add a few personal touches to your retail super fund, read on!
Because we asked our Foolish contributors which ASX shares they reckon deserve a place in your superannuation fund in May.
Here is what the team came up with:
6 best ASX shares for your super fund right now (smallest to largest)
VanEck Morningstar Wide Moat ETF (ASX: MOAT), $891.95 million
Why our Foolish writers rate these ASX stocks as super!
VanEck Morningstar Wide Moat ETF
What it does: This ASX exchange-traded fund (ETF) gives investors exposure to a diversified portfolio of attractively priced US companies with sustainable competitive advantages.
By James Mickleboro: There are few better investors to follow in the footsteps of than Warren Buffett. Since the 1960s, the Oracle of Omaha has consistently beaten the market and delivered outsized returns for his Berkshire Hathaway business.
The remarkable thing is that Buffett hasn’t achieved his success by using complex investment strategies. His approach is about as simplistic as it gets on the stock market, and time and time again, he has beaten the market.
Buffett does this by buying high-quality companies with sustainable competitive advantage at fair prices. The VanEck Morningstar Wide Moat ETF replicates this strategy, making it super easy for investors to invest in companies that Buffett would buy without having to do any research.
Over the past decade, the index this ETF tracks has generated an average total return of 16% per annum, significantly better than the long-term market average of 10% per annum.
Motley Fool contributor James Mickleboro does not own units of the VanEck Morningstar Wide Moat ETF.
Collins Foods Ltd
What it does: Collins Foods is a major franchisee of KFC outlets in Australia and owns a growing network of KFCs in Germany and the Netherlands. The company is also responsible for the Taco Bell chain in Australia.
By Tristan Harrison: I’ve long admired the simple growth potential of this ASX 200 company and recently bought shares. I decided to take advantage of the more than 20% decline in the Collins Foods share price since January.
What’s simple about the growth? The company just needs to keep opening/acquiring new locations to grow its scale.
The HY24 result showed everything I think Collins is capable of continuing into the future. Revenue rose 14.3%, underlying earnings before interest, tax, depreciation and amortisation (EBITDA) increased 16.7%, and underlying net profit went up 28.7%. Seeing the profit levels rise (noticeably) faster than revenue is a good sign for future profit scaling of the business.
KFC Australia saw a same-store sales (SSS) growth of 6.6% in HY24, while KFC Europe’s SSS growth was 8.8%. That’s a solid organic growth rate without taking into account any new stores.
Collins Foods opened four new KFC locations in Australia in HY24 and eight in the Netherlands. I think Europe’s large population gives the company a long growth runway.
In terms of the dividend, the annual payout has increased every year over the past decade. The current grossed-up dividend yield is around 4.25%.
Motley Fool contributor Tristan Harrison owns shares of Collins Foods Ltd.
iShares S&P 500 ETF
What it does: The IVV ETF is a low-cost, index-based ASX ETF that tracks the performance of the 500 largest United States companies comprising the S&P 500 Index (SP: .INX).
By Bronwyn Allen: I like the kind of stocks you can buy and hold forever for my superannuation fund. My super is a long-term savings vehicle for my retirement, so I want it full of boring yet reliable long-term growth stocks.
And it helps that the world’s most successful investor, Warren Buffett, has long recommended that no-fuss investors like me avoid individual stock picking and just consistently throw money into low-cost S&P 500 index funds instead.
He says: “Just keep buying. American business is going to do fine over time, so you know the investment universe is going to do very well.” Buying the IVV ETF means owning a slice of mega global companies like Microsoft, Apple, Nvidia, Amazon, Alphabet, and Meta Platforms.
The IVV ETF is also one of the 10 cheapest ETFs on the ASX with a management expense ratio (MER) of 0.04%, so it fits Buffett’s brief very well.
The iShares S&P 500 ETF share price is currently $52.61, up 29% over the past 12 months and it’s 91% higher over five years.
Motley Fool contributor Bronwyn Allen does not own units on the iShares S&P 500 ETF.
Medibank Private Ltd
What it does: Medibank Private is Australia’s largest private health insurance provider in the country. More than 4 million people entrust their health coverage to Medibank or its more affordable Ahm label.
By Mitchell Lawler: Health insurance is an industry where size matters. The more members an insurer has, the greater its bargaining power to secure better arrangements with hospitals and other health-based organisations.
It’s a flywheel effect: More members lead to better prices, which in turn generates more members. Once that flywheel is spinning, competitors can struggle to keep pace.
Importantly, Medibank Private is a business that I see being as relevant in 30 years as it is today. That’s critical when it comes to holding compounding investments inside a superannuation fund.
The last thing anyone wants is a chunk of their retirement being vaporised in a business that goes bust. In my opinion, the odds of that happening to Medibank are minuscule.
Motley Fool contributor Mitchell Lawler does not own shares of Medibank Private Ltd.
Coles Group Ltd
What it does: Coles is the second-largest supermarket operator in Australia, with a huge network of stores around the country. Coles also owns the bottle shop chains Liquorland, Vintage Cellars, and First Choice.
By Sebastian Bowen: The qualities investors typically look for in shares to include in a superannuation fund are stability, certainty, and a reliable dividend. Coles arguably offers all three in spades.
Coles is a consumer staples stock, meaning it sells goods we all need, rather than necessarily want.
It’s hard to imagine a future where a decent chunk of the Australian population doesn’t visit Coles to buy food and drinks or stock up on household essentials. As long as there is a local Coles offering these goods at a relatively low cost, Australians will visit it on a regular basis.
This makes Coles’ earnings base highly defensive, which should help anyone with this company in a super fund sleep well at night.
Coles has also built up a very strong dividend track record since it was listed on the ASX back in late 2018. The company has yet to deliver a dividend cut and has increased its annual dividends every year since its ASX debut.
At recent pricing, investors can grab Coles shares with a fully franked dividend yield of more than 4%.
Motley Fool contributor Sebastian Bowen does not own shares of Coles Group Ltd.
Westpac Banking Corp
What it does: Established in 1817 as the Bank of New South Wales, Westpac provides a range of consumer, business, and institutional banking and wealth management services. It has operations throughout Australia, New Zealand, and the near Pacific region.
By Bernd Struben: I think Westpac shares deserve a place in most every superannuation portfolio.
The big four bank recently completed all 354 activities of its risk transformation plan, improving its risk governance. Westpac today is a simpler and stronger business than it was in recent years.
And I was pleasantly surprised by Westpac’s first-half results.
Despite an inflation-exacerbated 8% increase in half-year operating expenses to $5.40 billion, Westpac’s $3.51 billion net profit, excluding notable items, was down only 1% year-on-year. And with Australia’s economic growth forecast to rebound to 2.5% in 2025, the bank looks well placed to increase those profits.
Atop announcing a share-price-boosting additional $1 billion worth of on-market share buybacks, management also declared an interim dividend of 90 cents per share. Westpac shares now trade on a fully franked trailing yield of 5.5%.
The Westpac share price is up 26% in 12 months.
Motley Fool contributor Bernd Struben does not own shares of Westpac Banking Corp.
Wondering where you should invest $1,000 right now?
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes could be the ‘five best ASX stocks’ for investors to buy right now. We believe these stocks are trading at attractive prices and Scott thinks they could be great buys right now…
Suzanne Frey, an executive at Alphabet, is a member of The Motley Foolâs board of directors. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Foolâs board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool’s board of directors. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Alphabet, Amazon, Apple, Berkshire Hathaway, Meta Platforms, Microsoft, Nvidia, and iShares S&P 500 ETF. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool Australia has positions in and has recommended Coles Group. The Motley Fool Australia has recommended Alphabet, Amazon, Apple, Berkshire Hathaway, Collins Foods, Meta Platforms, Microsoft, Nvidia, VanEck Morningstar Wide Moat ETF, and iShares S&P 500 ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
Analysts and fans alike anticipate Apple will make generative AI announcements at WWDC in June.
Tyler Le/Insider
Apple plans to implement generative AI into its virtual assistant Siri, NYT reported.
Apple reportedly wants the AI Siri to be able to chat, summarize texts, and do existing tasks better.
The report comes amid fears that Apple is lagging behind competitors when it comes to gen AI.
Siri is getting a generative AI makeover, according to a new report.
Apple plans to bring generative AI to its virtual assistant, The New York Times reported Friday. With the technology, Apple hopes Siri will get better at tasks it already does and take on new abilities like summarizing text messages and chatting, rather than responding to one question at a time like it does now, the Times reported, citing three sources familiar with Apple's work.
The generative AI processing will happen on-device, according to the report — a departure from how chatbot apps like OpenAI's ChatGPT, which is also available on iPhone and Android as well as the web, process users' questions through massive data and cloud servers.
Apple did not immediately respond to Business Insider's request for comment ahead of publication.
The report comes amid talk that Apple is playing catchup to competitors on AI, as the company hasn't yet made any generative AI announcements.
Apple, however, is expected to say more about its work on AI at its annual WWDC conference in June.
The iPhone company's CEO, Tim Cook, has teased during earning calls that big news about generative AI products is right around the corner.
Melinda Binkley, 56, struggles to afford basics but earns 'too much' for assistance, she said.
Binkley is part of a growing group who live above the poverty live but can't afford necessities.
The federal poverty line doesn't account for cost-of-living differences, leaving many without help.
Melinda Binkley, 56, has tried to apply for safety net programs before — like SNAP — but she's told her household makes too much money, usually by less than $100.
"I go through all that legwork, and I get everything that's on the application," Binkley said."Then, within days, they are either emailing me or calling saying 'you're too high'… I feel like it wastes my time."
Binkley lives in Stillwater, Minnesota and said she receives around $1,499 a month in Supplemental Security Income benefits, according to documents reviewed by Business Insider. She doesn't currently work due to medical reasons, but has in the past. BI verified that her husband brings home about $1,200 every two weeks from his job at a medical supply company, but Binkley said his income varies because he has health issues and can't always work a full-time schedule.
The couple is part of a growing number of Americans who live above the federal poverty line but struggle to afford basic necessities. The poverty line isn't adjusted to reflect cost-of-living differences in individual cities or states and is set at $20,440 a year for a family of two.
About 29% of US households are now ALICEs — people who are asset-limited, income-constrained, and employed. This compares to 13% of Americans who live below the federal poverty level, according to the Census Bureau's American Community Survey data and cost-of-living estimates analyzed by United Way's United For ALICE program.
"There is nothing in between that allows people to get assistance or help of any sort," Binkley said, referring to the gap between the poverty line and middle class. "We always tend to fall right in that part of the economy."
Binkley hopes to move one day
Primarily, Binkley said she struggles with her rent and utility bills. She has worked out a deal with her landlord where she can make different payments for rent whenever she and her husband have the funds, but she worries that they might face eviction if they fall any further behind, she said.
Binkley said extreme temperatures in Minnesota and limited insulation in her home also mean she can pay almost $5,000 dollars anually in electricity bills to keep the heat on.
For food, Binkley said she is especially thankful for her local food pantries, where she often goes to pick up canned goods. However, she said there used to be more food pantry options available during the pandemic when "everybody was having issues."
Binkley added that she can afford to go to the grocery store sometimes, but only for basic, perishable goods like milk and bread.
Although Binkley is enrolled in Medicare and her husband gets a basic healthcare plan through work, she estimates they pay at least $350 a month out-of-pocket for medications — and it's often more.
"My husband will go without his meds, especially the more expensive ones," she said. "He will go without to make sure that I have mine, and I don't like that."
Binkley hopes she can leave Minnesota soon for Idaho. Her sister, whom she says is her biggest supporter, lives there and Binkley wants to be closer.
She's slowly trying to prepare herself and her husband for the move bysorting through their belongings and trying to stabilize finances. In the meantime, she's doing her best to "make ends meet."
"That is one thing that keeps driving me to make my payments, get things caught up, and set a little bit aside each week or each month, Binkley said. "Being able to use a big UHaul and finally get out of here."
Are you making above the poverty line but still struggling to afford daily life? Reach out to this reporter at allisonkelly@insider.com.
On Friday, the company emailed members of the employee resource group for LGBTQ+ supporters.
"As we all know, last year was challenging, and we've made some changes this year," the note said.
Target responded to media coverage in an email to LGBTQ+ employees after news broke that the retailer plans to shrink the number of stores carrying its Pride collection this year, according to a memo obtained by Business Insider.
On Friday, Target confirmed it will reduce the number of stores that carry its assortment of LGBTQ+ merchandise for Pride month in June.
The company said it will offer a collection online and certain stores "based on historical sales performance." The reduction, first reported earlier Friday by Bloomberg, is a sharp departure from prior years when Target featured Pride displays prominently at all of its stores across the US.
Shortly after Target released its public statement, the company's VP of Brand Marketing Carlos Saavedra emailed the Pride+ Business Council, which is Target's employee resource group for LGBTQ+ supporters.
In the note, obtained by Business Insider and reproduced in full below, Saavedra says teams across Target have been working on this year's plans "for months" and were preparing an internal preview of the campaign for May 14. Online Pride collections in prior years have launched as early as May 1.
"As we all know, last year was challenging, and we've made some changes this year based on guest insights and sales trends," Saavedra said. "Stores were chosen based on where we've historically seen the strongest sales demand."
Saavedra also noted the disruption caused by Friday morning's media attention: "This isn't the way we envisioned kicking off Pride, and we hoped you'd be one of the first audiences to hear about our plans."
A source on the council told BI that the employee group was previously much more involved in highlighting vendor partners for Pride, but that did not happen this year.
Read the email from Target to the LGBTQ+ employee group:
Pride+ community,
As you know, team members across Target have been working on our Pride 2024 plans for months. Ann, Jeff and I were looking forward to sharing an overview of all the ways we'll celebrate at our Pride+ meeting on May 14.
Unfortunately, the opportunity to give you a preview was interrupted by some external media coverage. Of course, this isn't the way we envisioned kicking off Pride, and we hoped you'd be one of the first audiences to hear about our plans. Still, we won't let this distract us from the intent behind this month – celebrating and supporting our amazing community.
While you may have already seen media coverage, there are a few points we'd like you to hear directly from us ahead of our meeting on May 14:
Our Pride+ community has once again poured time and energy into a fantastic slate of events to help us celebrate, grow and connect. Thank you to each one of you who played a role. We're excited to share all the details on Tuesday!
As we have for several years, Target will have a presence at local Pride events, including parades in Minneapolis, New York City and other local communities – reinforcing our commitment to the LGBTQIA+ community.
We will once again offer a Pride assortment to help our guests celebrate. As we all know, last year was challenging, and we've made some changes this year based on guest insights and sales trends. That includes a more curated assortment that's rooted in celebration across adult apparel, home and food and beverage. The assortment will be available to everyone online and in select stores. These stores were chosen based on where we've historically seen the strongest sales demand.
Above all, please know our intention is to bring our culture of care to life for our LGBTQIA+ team members – not just during June, but year-round. We remain committed to this wonderful community, and we are so excited to celebrate Pride with you all.
As always, I'd like to end by expressing our gratitude to each of you. Thank you for all you do to make Target a caring, supportive and welcoming place. We look forward to seeing many of you on May 14.
Carlos, Ann and Jeff
If you work for Target and would like to share your perspective, please contact Dominick Reuter via email or text/call/Signal at 646-768-4750. Responses will be kept confidential, and Business Insider strongly recommends using a personal email and a non-work device when reaching out.
