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That will put it in direct competition with Amazon for ad dollars, as advertisers devote more spending to the platform to capitalize on the growth of social product search. TikTok wants to be the next big US digital juggernaut. TikTok will be the fastest-growing digital ad business after Walmart in 2024, per our forecast.

Meta is also trying to pull influencers back to Facebook with financial bonuses and support for newer creators. A secondary app, Edits—a near copycat of TikTok’s CapCut—will launch March 15 with Reels editing tools and the ability to share on Instagram.

Social activities: Gen Z prefers video and influencer content. Video is the top activity for discovery on social media. Gen Z is also more likely to discover new brands and products while viewing creator/influencer content and stories.

Social media users in select countries (US, UK, Australia, France, and Saudi Arabia) trust brands over influencers when it comes to finance, apparel, and skincare, per an October study from Snap Inc. and IPG Magna. Finance is where this trend is most pronounced.

Cooking recipes are the most popular form of influencer-created social media content, according to 51% of worldwide social media users, per a February 2024 report from Snap Inc. and IPG Magna.

Time spent on media and consumer spending are plateauing, making one company's gain another's loss. Diving into these market dynamics, we explore innovative strategies for advertisers and retailers to win consumers in the new digital era.

Real stories and vulnerable influencer partnerships will inspire action beyond awareness.