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And Vice President-elect JD Vance said on the campaign trail that he would explore stricter regulations of D2C pharma advertising. Bills to restrict or prohibit D2C drug ads have been introduced in the past yet typically lacked support from GOP lawmakers. But if a Republican-led administration pushes for a ban, previously hesitant members of Congress could be swayed.

What it means: China鈥檚 subdued economic outlook poses problems for retailers鈥攑articularly domestic ecommerce giants Alibaba and JD.com, as well as more expensive Western brands鈥攁s they struggle to ride out the slump in consumer spending. Brands like Apple have been forced to participate in the country鈥檚 price wars to attract consumers and keep lower-priced domestic rivals from taking share.

Douyin鈥檚 low-cost shoppertainment strategy has been effective, helping the short-video app gain market share in retail ecommerce sales against giants such as Alibaba and JD.com. Overall Douyin retail ecommerce sales grew 55.0% in 2023, compared with 11.4% for China鈥檚 total retail ecommerce sales, to reach $324.42 billion.

Our take: Walmart is adapting to China鈥檚 rapidly evolving retail landscape, where Meituan is on the rise as JD.com is losing ground. This article is part of 蘑菇AV鈥檚 client-only subscription Briefings鈥攄aily newsletters authored by industry analysts who are experts in marketing, advertising, media, and tech trends.

Those categories also performed well during Singles Day, Alibaba and JD.com said. Our take: China鈥檚 economic rough patch is unlikely to be resolved anytime soon. We expect sales to rise just 3.5% in 2025 as consumer caution puts a considerable damper on growth.

Digital, traditional, and total media ad spending growth will all accelerate in 2024, although only modestly. The outlook has stabilized for most countries and regions, even if spectacular growth is harder than ever to find.

Companies like Alibaba, JD.com, and Meituan are pulling in tens of billions in ecommerce channel ad spending in China, while Amazon has only a limited presence. The opposite is also true: China鈥檚 retail giants are not significant ad publishers in other markets. Latin America is also a vulnerable spot for Amazon. Mercado Libre is building momentum in countries like Brazil, Mexico, and Argentina.

It will need to do a better job of reaching the nearly half of brick-and-mortar pharmacy customers who say they have not heard of digital pharmacies, per JD Power鈥檚 2024 US Pharmacy Study. Key stat: As of earlier this year, about 13% of US adults say they鈥檝e used Amazon Pharmacy in the past 12 months, per M3 MI data shared with 蘑菇AV. 2. Medicare beneficiaries get access to RxPass.

And Vice President-elect JD Vance said on the campaign trail that he would explore stricter regulations of D2C pharma advertising. Bills to restrict or prohibit D2C drug ads have been introduced in the past yet typically lacked support from GOP lawmakers. But if a Republican-led administration pushes for a ban, previously hesitant members of Congress could be swayed.

Despite relatively sluggish growth in the previous quarter, both Alibaba and JD.com are benefiting from Beijing鈥檚 trade-in subsidies for autos and appliances, which boosted their Singles Day performances as well as China鈥檚 October retail sales.

Our take: Brands embracing platforms like Douyin illustrates the competitive pressures facing Chinese ecommerce incumbents Alibaba and JD.com鈥攁s well as retailers like Pinduoduo.

Companies signing new leases include third-party logistics firms Western Post, Lecangs, and Elogistek, and ecommerce businesses such as Alibaba Group and JD.com.

President-elect Donald Trump has shifted between supporting and opposing the idea of a Google breakup, though Vice President-elect JD Vance said over the summer that the company should be split up. Our take: Google鈥檚 ad exchange has been a sore topic for some advertisers since reports emerged last year that 鈥渕ade-for-advertising鈥� sites were diluting the quality of its inventory.

Traditional ecommerce leaders are losing steam, with Alibaba and JD.com seeing ad revenue growth of just 5% and 2.7%, respectively. We expect Baidu, the sixth-largest ad player in the market, will increase ad revenues 1.5% this year after posting a 4% decline in Q3 after SMBs reduced their spend due to macroeconomic conditions.

President-elect Donald Trump and Vice President-elect JD Vance appeared on 鈥淭he Joe Rogan Experience鈥� (ranked No. 1 in the US on Spotify), while Vice President Kamala Harris appeared on 鈥淐all Her Daddy鈥� (ranked No. 22 in the US on Spotify).

Competitors like JD.com and Meituan have been quick to jump on the retail media hype train, and the long tail of 鈥渙ther鈥� is far larger in China than it is in the US ($9.84 billion versus $4.18 billion this year), indicating the extensive range of smaller players that have found success. What does China鈥檚 story tell us about the US鈥� growth potential?

The majority have dealt with at least one issue during a recent virtual care appointment, according to JD Power鈥榮 2024 US Telehealth Satisfaction Study. 4,070 US consumers who used a telehealth service within the past 12 months were surveyed. The survey ran from September 2023 through July 2024.

This achievement will come in part at the expense of their legacy domestic competitors, as we project Baidu, Alibaba, and JD.com will see middling results this year. Reddit, Spotify, and Apple are also noteworthy. Aside from ad industry giants like TikTok, Amazon, and Instagram, several other names stand out.

Consumers are unsatisfied with their credit card rewards, according to the JD Power 2023 US Credit Card Satisfaction report. Gen Z cardholders were most likely of any generation (41%) to say their credit card rewards aren鈥檛 up to snuff, per a report from i2C and PYMNTS Intelligence.

We expect it to leapfrog JD.com next year for second place. Alibaba is the biggest ecommerce company in the world, but its share in China has plummeted over the past 10 years. In 2013, Alibaba controlled 84.1% of China鈥檚 ecommerce market. By 2024, that figure will have dropped below 40%.

Pinduoduo鈥檚 early gains in Chinese ecommerce鈥攖hen dominated by the incumbent duopoly of Alibaba and JD.com鈥攃ame from a similar strategy. Rapid global expansion is already underway. In Q1 2023, Temu started rolling out in the predominantly English-language markets of Canada, Australia, and New Zealand.

That drove the two incumbents to join forces: JD.com merchants can now use courier, delivery, and installation services from Alibaba鈥檚 Cainiao, while Tmall and Taobao sellers have the option to use JD.com鈥檚 logistics offerings.

Incoming vice president JD Vance recently said on a podcast that he鈥檚 a big critic of pharma advertising. Vance wasn鈥檛 concerned with drug ads鈥� influence on consumers but rather that media companies don鈥檛 appropriately investigate the drug industry since they rely so heavily on Big Pharma鈥檚 ad dollars. Vance鈥檚 critiques of D2C pharma ads aren鈥檛 the same as Trump鈥檚.

The top reason for switching card providers is to find a better rewards program, according to JD Power.

More than half (51%) of US consumers can鈥檛 pay off their entire balance each month and accrue interest on the balance, according to a survey from JD Power. This is the highest level in years: The percentage ranged from 40% to 50% between 2018 and 2022, per JD Power. Record-high credit card interest rates have helped propel consumer credit debt to new heights.