Amazon stood as a dominant force among retail media networks

$3.99          

Recently Snapchat released its OpenAI-powered chatbot known as My AI and Meta Platforms announced a new AI-focused product team. This feature will roll out this week to subscribers of Snapchat+, the platform is charging $3.99-per-month, with this Snapchat+ program has 2 million paid subscribers. 

36%    

As per the analysis by MediaRadar, Amazon stood as a dominant force among retail media networks with 37% market share to earn a net worth of $100 billion. In 2022, Amazon has tied up with 14,200 companies which represent 17,000-plus brands. General mass retailers like Walmart and Target, made up the second-largest retail media allotment with 36% of the market.    

6% 

Standard Media Index report stated that, in January, national ad spending dropped to 6% YOY. Whereas the other categories saw a hike of 16% in consumer packaged goods (CPGs), 15% in pharma and 19% in travel in spending YoY.  Tech, entertainment and media, and wellness all faced a slight decline. 

29%      

In the US, nearly 29% of Gen Z adults are more likely to pay attention to social media advertising, especially on mobile whereas 16% of adults pay attention to social media as per CivicScience.  The adult population tends to notice interest in other online ads and TV commercials. 

79   

As per eMarketers predictions, in the US, users aged 18- to 24-year-old spend nearly 79 minutes per day and 25 to 54 millennial and Gen X generations are spending over 45 minutes per day. TikTok has been the leading app on social media platforms. 

1100  

As per Bloomberg, Meta is planning its second round of job cuts in four months, leading to thousands more laid off this week and already Meta has axed 11,000 workers in 2022 in the first layoff. The operating costs jumped 22% YoY to $25.8 billion and sales decreased by 4% to $32 billion during Q4 2023.  

6G  

The world’s largest telecommunications and technology firms announced that 6G the next generation of mobile internet after is likely to launch in 2030. Hundreds of billions of dollars are invested into 5G networks but penetration among consumers remains low and work on 6G is underway.