Cholula hosts virtual 'Taco Tuesday' for Cinco de Mayo fundraiser

Brief:

Cholula Hot Sauce today is hosting what it calls the world's biggest virtual "Taco Tuesday" on Instagram Live, bringing together people who can't celebrate Cinco de Mayo at bars and restaurants during pandemic lockdowns. The brand also is running a "Tacothon" with celebrity guests to raise money for restaurants facing financial hardship, per an announcement shared with Mobile Marketer.
The livestreamed event starts at 7 p.m. ET on Cholula's Instagram account, while celebrities will co-host the celebration from their respective handles on the social network in one-hour blocks. NBA All-Star Victor Oladipo and chef Christina Tosi will host the first hour, followed by actress Sophia Bush and chef Tom Colicchio at 8 p.m. and chef Aaron Sanchez and retired NBA All-Star Dwayne Wade at 9.
Cholula will donate $1 for every viewer who watches the livestream to the Independent Restaurant Coalition, a nonprofit formed to help save local restaurants affected by the pandemic. Cholula pledged a minimum $50,000 donation and as much as $100,000 to the group, per its announcement.

Insight:

Cholula's virtual "Taco Tuesday" seeks to entertain consumers on Instagram Live while raising money for a good cause. With millions of people stuck at home and unable to celebrate Cinco de Mayo, either with a large gathering at home or at bars and restaurants, the hot sauce brand can help to lift the mood and reach younger consumers who use Instagram to stay in touch with the outside world.

About 80% of U.S. adults would rather watch a livestream from a brand than read a blog, while 82% prefer live video from a brand to social posts, per a survey by Livestream and New York magazine, making video a more compelling format for a brand like Cholula. The popularity of livestreaming underpins a similar effort by tequila brand Patrón, which today will host its own event on Instagram Live for Cinco de Mayo at 5 p.m. ET.

Cholula's celebration also has a serious undertone in its effort to raise money for ailing restaurateurs who have borne the brunt of lockdowns on large gatherings during the pandemic. A cause-driven campaign is more likely to appeal to younger consumers who want brands to show how they're helping others during the crisis.

Tostitos is using the same approach in its Cinco de Mayo campaign on Instagram Live, which will compete with Cholula for viewers in the 7 p.m. time slot. The PepsiCo-owned snack brand is hosting free livestreamed salsa dancing classes directed by actor Mario Lopez while raising money for COVID-19 relief. Pepsi, Buffalo Wild Wings and Verizon also have sponsored livestreamed events to raise money in recent weeks.