Instagram is the Top Social Platform to Make a Purchase among Gen Z

$14.15 B

In US, it is a difficult time for marketers as they have seen a continuous decline so the marketers have cut back their ad budgets. Due to this TikTok has come up with new filters that help brands find user interests, validate current audiences, find new ones, as well as help marketers plan content that will resonate. TikTok will hit $10 billion in ad revenues worldwide in 2022 and further rise to $14.15 billion by 2023.

$7.99

Recently Twitter Blue subscription service of $7.99 per month was derailed and scheduled to relaunch on November 29. As the majority of Twitter users access the platform via iPhones and Android devices, so Apple’s 30% commission and Google’s 15% cut are poised to affect Twitter’s revenue potential.

22%

In US, Gen Z often finds products via search through social media rather than relying on influencers or brands to make purchases. Instagram is the top social platform to make a purchase with 22% followed by Facebook at 20%, YouTube at 19%, and TikTok at 12%.

30%

In this fiscal third quarter, Walmart Connect has seen 30% ad sale growth at the global level and the total revenues increased by 8.7% to $152.8 billion. As per executives, Walmart's E-commerce sales grew 16% YoY and about 13% of total sales this year have begun in a digital fashion.

24

As per The Wall Street Journal report, Meta Platform has fired two dozen employees who allegedly took control of Facebook user accounts. In some cases, users who lost their Facebook account access have asked for help within Meta who were willing to unlock accounts and in some cases, workers received thousands of dollars as bribes to access user accounts.

50%

As per eMarketer forecast US connected TV (CTV) ad spending will hit $26.92 billion by 2023. When compared to five years ago, CTV ad spending was just $2.80 billion, now it rose by at least 50% annually. This is because people started spending more time on streaming platforms like Netflix and Disney+ than ever before.

87%

As per the State of Marketing report, 87% of marketers say that their work has a higher value than a year ago, 71% say meeting customer expectations is more difficult than just a year ago. This survey was drawn from 6,000 marketers across 35 countries and found marketers are flexing their creative muscles with new strategies and tactics as their top priority.