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But it still lags the US and China, where around 4 in 10 people will make a social purchase this year. To view the full forecast, click here. UK retailers have been slow to embrace the channel.

Advertisers on the IPN see an average seven times return on ad spend and an average 47% lift in incremental units sold. Start seeing the return on ad spend your brand deserves with Ibotta Performance Network today. Visit ipn.ibotta.com/emarketer today to learn more. That's ipn.ibotta.com/emarketer. Welcome back from the break. So you've been talking about what you have not seen with the metaverse.

The US retail giant has opened up its third-party marketplace and invited sellers from China, Canada, Japan, the UK, and other countries to join. It now offers around 400 million SKUs from marketplace sellers鈥攗p from about 75 million pre-pandemic.

Shoppers looking specifically for cheap Chinese goods can stick with apps like Temu and Shein. Livestream ecommerce still hasn鈥檛 taken off in the US. Livestreaming made TikTok鈥檚 sister app Douyin a retail success in China, where we forecast shoppers will spend $234.75 billion on livestreaming social commerce in 2023, accounting for 45.4% of the country鈥檚 social commerce sales.

But because of the rickety nature of the Chinese economy, voluntarily cutting off a pretty powerful and increasingly important access point for Chinese manufacturers to American consumers doesn't feel very smart. So I think that there's a chance that they may soften that.

Innovations from China boost US mcommerce. Temu skyrockets past other shopping apps. Temu rode heavy advertising to reach 90.5 million unique US visitors in August 2023, following other direct-from-manufacturer apps, such as Shein and Wish. The super app model makes a comeback. WeChat Pay and AliPay became dominant portals to the internet in China.

Jasmine Enberg, principal analyst: 鈥淚 don鈥檛 see a world in which livestreaming is going to become as big [here] as it is in China, at least not in the near future. I do think that consumer behavior is just so incredibly different here in the US than it is in China.

And then the final 20 I'm going to give to retail, which was something that they talked about a little bit on the call me didn't share how much China specifically was contributing to revenue this quarter, but it did say that it was included in the 41% growth from the APAC region, which was primarily commerce and gaming.

South Korea, Japan, and China, even though China's going to, as I mentioned, outnumber other regions as a proportion of internet users, only 11% in China. So why don't you give us a little bit more context, Ethan, to the lay of the land of podcasts around the world. Ethan Cramer-Flood:. This report is a useful part of the story for podcasting in general.

On today's episode, in our "Retail Me This, Retail Me That" segment, we discuss why livestream shopping hasn't caught on in the US and the UK the same way it has in China, what TikTok is doing to make the US鈥檚 launch more successful than the UK's, and what shoppers are looking for from a livestream. Then for "Pop-Up Rankings," we rank the top four brands that have done livestream shopping well. Join our analyst Sara Lebow as she hosts analysts Sky Canaves and Carina Perkins.

But when you think about the amount of data and information on that platform; so, a few reasons why there are fears the Chinese government could order TikTok, who's owned by a Chinese company, ByteDance, to do these things.

Each of these channels is growing fast, with ad spending often lagging the sales potential. Rather than overinvesting in the already crowded search and social channels, marketers should turn to emerging market channels where they can efficiently target customers and generate higher return on ad spend (ROAS). Omnichannel strategies can produce marketing synergies.

So the Department of Defense's 2020 budget for AI related R&D was just under 4 billion, but that could grow under the Trump administration, especially since we know that the objective there is to outpace China. So you could see more investment getting into those applications, defense, AI applications for government as well. Marcus Johnson (16:19):. Yeah, yeah.

But leading wallets like Apple Pay, PayPal, and Chinese super app Alipay are winning over consumers through education on how they work and the limited amount of data they use, as well as through incentives like loyalty bonuses and mobile ID initiatives. The demographics: Younger and higher-income Canadians are driving mobile wallet growth.

The short history, on April 24th, President Biden signed a bill requiring Chinese-owned TikTok parent ByteDance to sell to a US owner within a year or to shut down by January 19, 2025. Why? Because the US is nervous that the Chinese government could use TikTok to access sensitive information about Americans or to use the app to spread propaganda.

I think otherwise probably our listeners are aware that the advertising industry has slowed down considerably from its heyday from a couple of years ago, and we're seeing single digit growth in a lot of countries and digital ad spending, and even lower than that in traditional ad spending.

In terms of ad spending, some of this is just the law of large numbers. Like CTV for example, is getting to the point, it's getting to the size now, I mean it's 7% of all ad spending in the country this year and obviously growing next year. And so that's going to go from 19% growth this year to 13% growth next year. Still very good.

Introduced in late 2022, the bill would shut down the platform over national security concerns, alleging that Chinese-owned TikTok is illegally collecting user data.

Even by 2025, Google will claim one out of every five total US ad dollars, one in five. Evelyn Mitchell-Wolf:. The other way of thinking about it though is who's next after the 27? Marcus Johnson:. It's Meta with-. Evelyn Mitchell-Wolf:. And how much do they have? Marcus Johnson:. They're going to have 18%, I believe. Suzy Davidkhanian:.

We'll get to our numbers in a second for full year to zoom out and get more of a bird's eye view of the ad market in the US, but before that, Paul, Dentsu recently downgraded their global ad spending forecast slightly, arguing that ad spend growth is actually an illusion driven by inflation. What are your thoughts there? Paul Verna:. Well, I think there's a lot to be said for that.

However, you point out digital audio will claim just 2% of the US ad spending this year, 10 times less than socials 20% share. That's all we've got time for The Lead. Time now for The Halftime Report. So Ethan, in this segment, I'm going to ask you for one thing you think is worth repeating, most worth repeating, from the first half. Ethan Cramer-Flood:.

And as a result of that, I think advertisers, particularly the long tail of advertisers, SMBs, who make up so much of Facebook ad spend, are looking at that number, that model, that ROAS number, and they are starting to invest again in the platform because they are taking the number that's put in front of them.

Chen at Rest at World saying that Lemon8 has also been compared to Xiaohongshu, the Chinese social media and e-commerce platform with over 200 million MAUs known as the country's lifestyle bible. And so I think ByteDance does still believe in it, and TikTok could in theory still get banned, right, Debbie? So maybe they do need a backup if that happens. Debra Aho Williamson:. Good points.

Speaking of getting over-excited about technology that Carina brought up earlier on, I think before the pandemic, back in 2018, when the Chinese economy was growing in near double-digit, and there was just a lot of hot money, so all kind of experimentation was going on in China.