Ä¢¹½AV

The world of retail media is always changing. Here’s what has caught our eye over the past few months.

Another eventful year is on tap for retailers as inflation forces consumers to prioritize basics, supply chain snarls continue, and customer loyalty wanes. Retailers that cut costs or add new revenue streams—and provide frictionless customer experiences—will prevail.

Prime Video gets its first major advertising partner: IPG Mediabrands will get first-look access to new ad formats when Prime Video debuts ads in 2024.

Is AI already replacing ad agency jobs? A new report suggests 33,000 jobs will be replaced by 2030, but there are signs that it’s already happening.

On today’s podcast episode, we discuss how much time Gen Z are actually spending on their smartphones, the less discussed places Millennials are spending their social media time, and more. Join host Marcus Johnson, along with analyst Paola Flores-Marquez and vice president of research Jennifer Pearson.

On today's podcast episode, we discuss how the Apple monopoly trial could change the smartphone market, whether Aldi can take on Walmart, if gambling ads will get banned, the impact of Amazon's "Big Spring Sale," how seriously we should be taking drone delivery, where the happiest people in the world live, and more. Tune in to the discussion with our analyst Blake Droesch and vice presidents of content Suzy Davidkhanian and Paul Verna.

Nearly half of US adults who have made a purchase via shoppable commerce have done so on social media, according to our February 2024 survey conducted by Bizrate Insights. But budding partnerships between brands and streamers may shift more commerce toward connected TV (CTV) platforms, especially around live events. For example, Paramount piloted a shoppable experience during the CMT Music Awards, NBCUniversal launched a new shoppable ad format ahead of this Summer’s Olympics, and Amazon added shoppable ads to its Amazon Prime platform.

Amazon Ads remains the torchbearer for the fast-growing retail media industry. Despite nearly every major retailer launching their own retail media network (RMN) in recent years—with several beginning to scale—Amazon’s No. 1 position will be secure well into the future.

Gift cards, which historically peaked during the holiday season, are growing year-round as a gift option. And the demand gap between physical and digital gift cards is slim: 73% of US adults wanted physical gift cards while 63% wanted digital ones in a March 2022 survey by Blackhawk Network.

Advertising employment peaks: AI advances may promise potential disruption.

Nearly 4 in 5 people in the US own a smartphone, per our March 2023 forecast. US adults check their phones an average of 114 times each day, and usually do so within the first 10 minutes of waking, per a Reviews.org study.

Mall foot traffic is returning to pre-COVID-19 levels. In 2023, visits to indoor shopping malls were down 5.8% from 2019 levels, an improvement from the 15.3% decrease in 2021, per Placer.ai’s The Comeback of the Mall in 2024 report.

Turnaround plans aren’t easy: While Abercrombie turned its fortunes around by delivering styles that resonate with Gen Zers and millennials, Foot Locker’s growth strategy remains a work in progress.

Amazon muscles in on Google and Meta’s ad throne: Retail media and Prime Video propelled the company to a blockbuster 2023—and 2024 looks even brighter.

Inflation forces judicious consumers to get more judicious with streamers: Netflix thrives with strategic moves, while others invest heavily in content.

Klarna will generate $33.38 billion in US buy now, pay later (BNPL) payment value by 2027, pulling ahead of Affirm in a period of massive growth for BNPL providers, per our forecast.

Microsoft is the latest to resort to layoffs: The company is reducing its headcount by 5% as it pivots to plug AI into its key products, subscriptions, and cloud services. But AI still has a lot of hurdles to jump.

US retail marketplace ecommerce sales will grow 11.4% to reach $428.30 billion this year, per our forecast. Because Amazon (73.4%) and eBay (8.2%) will rake in the majority of those sales, smaller marketplaces like Shein, Michaels, and Wayfair are getting creative and taking the battle for sales in-store.

TikTok is intent on growing livestream sales: The platform plans to open live studios and is testing ways to make all content shoppable, even as retailers shift focus to shoppable TV.

After experiencing a surge in growth in 2021, US retail sales growth began to slow last year, a pattern which will continue into 2023. According to our forecast, sales will rise by less than 3% this year, reaching over $7.3 trillion.

Consumer spending rose in the first four months of 2024: Shoppers are becoming more deal-conscious as cost-of-living pressures weigh heavily.

After experiencing a boom during the pandemic, the subscription frenzy has begun to fade as consumers grow weary of the Stitch Fixes and Blue Aprons of the world. Has the category lost its way? Or is there hope on the horizon? Let’s take a look.