Google Started Implementing the Deactivation of Third-Party Cookies for 1% of its Users (Around 30 Million) Last Week
30 M
Google has initiated the anticipated removal of third-party cookies, disabling them for 1% of Chrome users (about 30 million) last week, with plans to extend this to all users by Q3 2024. Despite the known phasing out of cookies, a significant number of advertisers, up to 78% in Q3 2023, still heavily rely on them for programmatic ad buys.
$222.1 B
Online consumer spending from Nov. 1 to Dec. 31 set a record at $222.1 billion, a 4.9% YoY increase, propelled by high discounts across electronics, toys, and apparel. Buy now, pay later (BNPL) services saw a 14% YoY surge, reaching an all-time high of $16.6 billion during the holiday season, contributing to a $75 billion total for 2023, up by 14.3% from 2022, aligning closely with Adobe Analytics' October projection of $221.8 billion.
$27 M
Digital Brands Group forecasts a revenue range of $27 million to $30 million for its 2024 fiscal year, with Q1 revenue expected to reach around $6 million, driven by $4.5 million in confirmed wholesale bookings. Notably, the fiscal 2024 projections exclude operating expenses and net loss, despite a recent quarter's growth of 51% and 11%, respectively.
14.9%
GroupM's forecast predicts a 14.9% increase in Connected TV (CTV) advertising in North America, up from 9.4% in 2023. To address challenges such as complexity and cross-platform measurement, their accelerator program, initially launched for GroupM clients in North America, aims to develop scalable ad formats for platforms like Peacock, Telly, The Roku Channel, and YouTube, with a focus on improving interoperability and measurement standards set to be complete by early 2024.
71%
In November 2023, Kearney data reveals that 71% of US adults prefer a leisurely approach to online shopping for clothes and shoes, whereas 45% prioritize a swift in-store grocery shopping experience. To enhance efficiency, grocery retailers should focus on seamless experiences, avoiding disruptions from ads, while apparel retailers can explore engaging formats like unique displays, carousel ads, and influencer videos for both in-store and online browsing.
50%
Gartner's 2024 forecast underscores the significant role of generative AI in marketing, highlighting consumer mistrust as a major concern. Predicting a 50% reduction in social media interactions by 2025 due to perceived declines in quality linked to generative AI, CMOs are advised to adapt strategies, and Gartner anticipates a substantial decrease in organic search traffic for brands by 2028 as consumers embrace AI-powered search.
35%
Samsung Electronics anticipates a substantial 35% decline in Q4 2023 operating profit, projecting it to be $2.13 billion, considerably below the previous year. This falls short of expectations, influenced by a semiconductor price rebound, with the company being the world's leading producer of dynamic random-access memory chips used in consumer devices like smartphones and computers. Samsung’s earnings are hard in Q3 operating profit plunged 77.6% from a year ago.