Retail Media has a Higher Probability as Biggest Growth Engines of Digital Media.

71%          

As per Gartner’s survey of 2023 CMO Spend and Strategy revealed that, 71% of the of CMOs say they lack of budget to execute their marketing strategy. This year marketing budget was 9.1% of total company revenue slightly down 9.5% in 2022. Paid media hold the largest share of budgets then followed by marketing technology,  labor and agencies. 

10  

As per a Tinuiti study, the ad market has seen a decline and these are the 10 straight months that ad spending was down and reached 8.4%. April month saw a drop of 1.4%, the smallest since September 2022. As per eMarketers predictions worldwide media ad spending would increase to 5.8% in 2023. 

$1.148 T   

Analyst Max Willens research stated that retail media has the highest probability to be the top growth engine of digital media. In the US, every 1 in 6 dollars spent on digital ads will be allocated to retail media in 2023. As per eMarketers forecast retail ecommerce sales in the US will pull by 10.0% to hit $1.148 trillion. 

75%     

As influencer marketing is increasing day by day 75% of Gen Zers and 50% of Millennials are making a purchase with influencer recommendations on social media, due to this brands and companies spending their money on this type of marketing. Worldwide brands have spent $673bn on social media ads in the past five years, and the figure keeps on increasing in the future. 

5G  

Apple has announced that the company has a multibillion deal with Broadcom in developing 5G radio frequency components. This fifth generation of wireless cellular systems will be uploaded in advanced gaming applications, self-driving cars, live streaming media and other products. 

$7.99   

In the US, Netflix has announced its subscribers that are not allowed to share their passwords with users outside of their households. The company said extra memberships would cost $7.99 per month for those living outside the household and the basic plan costs $9.99 per month or $6.99 with Ads plans. 

150 M     

In the US, Chinese apps are hugely popular, TikTok has 150 million monthly active users and Lemon8  has 1.8 million active users.  As per Apptopia TikTok had 415 million downloads, CapCut had 99 million, Temu 67 million and Lemon8 1.2 million, Shein’s app has 855 million which surpasses TikTok in downloads.