Defying global challenges, Pinterest excels in Q3: Innovations and strategic partnerships bolster its market position.
Sales are quickly approaching $100 billion. Gen Z’s influence on social media habits, new commerce technologies from TikTok, and rising annual spending by buyers are the main factors driving growth. And with users now spending just shy of 2 hours on social media per day, there is plenty of room for brands and users to squeeze more sales.
More than half (52%) of US adults have either used shoppable commerce (buying a product by clicking a link directly within or next to a video) before or are interested in it, according to an Insider Intelligence survey conducted by Bizrate Insights. The majority of those who have used it, however often, identify as male (23%) and are between ages 18 to 34 (31%).
Gen Z’s attention is split across social media for shopping and search: The cohort’s use of multiple social networks spells opportunity for platforms and advertisers.
On today’s podcast episode, we explore the problematic relationship between credit unions and Gen Z. • In our “Headlines” segment, we discuss an article from PYMNTS.com that revealed only 4% of Gen Z consumers bank with credit unions. • In “Story by Numbers,” we consider what credit unions can do to capture Gen Zers’ attention while working with tight marketing budgets, and which programs have helped Gen Z consumers manage their finances. • In “Actual CEO,” we discuss with our guest CEO what she is currently doing to engage with Gen Zers at her credit union. Listen to the podcast with host Rob Rubin and Tansley Stearns, CEO of Community Financial Credit Union.• In our “Headlines” segment, we dig deep on a recently published Insider Intelligence report covering our forecasts for ad spending by US banks and credit unions. • In “Story by Numbers,” we discuss how fewer mortgages are affecting banks' net interest income and what that means for their marketing budgets. We also examine Ally Bank’s increased ad spending. • In “For Argument’s Sake,” we talk about how large banks are doubling down on digital ad spending while smaller institutions are cutting their spending, which could lead to the eventual demise of smaller traditional banks. Tune in to the discussion with host Rob Rubin and our director of forecasting Oscar Orozco.
Advertising Week redefines representation: From diverse panels to strategic collaborations, inclusivity is both ethically and commercially prioritized.
Gen Z teens cut spending in response to inflation: Shoppers in this cohort are shopping more often at off-price and ecommerce retailers to save money, although the beauty category is as resilient as ever.
On today's podcast episode, we discuss who the LGBTQ+ community are, their relationship with advertisers, and what advertisers are getting wrong. "In Other News," we talk about the battle between TikTok and Instagram for young people's attention and which X (formerly Twitter) users are leaving the platform the fastest. Tune in to the discussion with our analyst Paola Flores-Marquez.
On today’s podcast episode, we discuss how banks are adjusting their ad spending in a world with high rates, economic turmoil, and a shift to digital advertising. • In our “Headlines” segment, we dig deep on a recently published Insider Intelligence report covering our forecasts for ad spending by US banks and credit unions. • In “Story by Numbers,” we discuss how fewer mortgages are affecting banks' net interest income and what that means for their marketing budgets. We also examine Ally Bank’s increased ad spending. • In “For Argument’s Sake,” we talk about how large banks are doubling down on digital ad spending while smaller institutions are cutting their spending, which could lead to the eventual demise of smaller traditional banks. Tune in to the discussion with host Rob Rubin and our director of forecasting Oscar Orozco.
US Gen Z adults’ top two daily media activities are streaming video (46%) and streaming music (43%), per a May 2023 Morning Consult survey.
The store is no longer the only place where consumers can discover and shop for consumer packaged goods (CPG) products. Younger generations are finding products via search and social media, while Amazon Prime Day offers shoppers the opportunity to stock up on essentials for less.
Just over 80% of US Gen Zers ages 15 to 26 use YouTube monthly, and almost the same percentage use Instagram or TikTok, per our July 2023 survey. More than half still visit Facebook. And though BeReal was the trendy app last year, only 15.1% of Gen Z respondents use it.
YouTube is the most widely used free video service among US internet users of all generations, according to Kagan. Its highest saturation is among Gen Zers (82%) and millennials (78%).
TikTok, Instagram, and Snapchat are where Gen Zers spend most of their daily time. Across the US population ages 18 to 24, time spent on TikTok will average 58 minutes per day in 2023, compared with 38 minutes for Instagram and 30 minutes for Snapchat.
On today's podcast episode, we discuss what to make of Google turning 25 years old, how US shoppers feel about stores, why tiered rewards are all the rage, how Hispanic people think their values are reflected by advertisers and Americans, taxi drivers turning into robots, some mind-bending facts about US geography, and more. Tune in to the discussion with our forecasting writer Ethan Cramer-Flood, forecasting analyst Zach Goldner, and director of forecasting Oscar Orozco.
Grocery shoppers are omnichannel shoppers, our analyst Blake Droesch said on a recent “Behind the Numbers: Reimagining Retail” podcast. That means consumer packaged goods (CPG) brands should employ a mix of digital and in-store advertising strategies to engage customers where they shop.
On today's podcast episode, in our "Retail Me This, Retail Me That" segment, we discuss how younger Gen Z consumers are most likely to discover grocery products, whether this new wave of celebrity-backed brands is different from previous ones, and what social media's role in all of this is. Then, for "Pop-Up Rankings," we rank the four elements a celebrity- or creator-led consumer packaged goods (CPG) brand needs to succeed. Join our analyst Sara Lebow as she hosts analysts Blake Droesch and Carina Perkins.
TikTok Shop became available across the US last week. The social video platform has a lot to gain in retail and ad revenues, but it risks facing the same challenges Meta has had with social commerce on Instagram—users' reluctance to actually complete purchases in app. But with sister app Douyin setting the blueprint for TikTok’s social commerce endeavors, the platform isn’t starting from scratch. Here’s a look at TikTok’s social commerce strategy and potential in five charts.
Price matters to everyone, but ease and convenience play an even bigger role in purchase decisions. Plus, retailers should consider revamping their apps to garner more sales and use their target audience to guide in-store and online strategies.
“Little treat” culture has taken over TikTok. The hashtag #littletreat has amassed 41.4 million views, and video after video shows users justifying their small purchases because they “deserve a little treat.” But little treats can add up. So Gen Z and millennial consumers are using rewards apps to pay for their little luxuries, according to Wes Schroll, CEO of the rewards app Fetch.