In 2024, 36% of Worldwide Marketers Intend to Boost Brand Marketing Investments, Reflecting a 13% Surge Compared to the Prior Year

36%   

In 2024, 36% of global marketers plan to increase investments in brand marketing, marking a 13-point rise from the previous year, as reported by WARC in December. Compared to 2022, there is a slight decrease in performance marketing investments from 41% to 40%. With the help of AI, US brand marketers are expected to drive personalized content creation for improved customer experiences, according to a Sitecore survey. 

$215 B     

Forrester's Global Martech Software Forecast predicts that global spending on martech will rise to $148 billion in 2024 and surpass $215 billion by 2027. Notable trends include martech outpacing broader enterprise software growth, a rebound in M&A activity, and a balanced distribution of investment across brand experience, customer understanding, and brand strategy technologies. 

84%      

As the era of third-party cookie-less marketing approaches, the Attest survey revealed that, 84% of Americans are concerned about data privacy when engaging with brands online and 41% are much concerned about this. The Zero-Party Data Revolution report further discloses a growing reluctance among consumers to share personal data, as evidenced by 85% opting out of mailing lists and 31% rejecting non-essential website cookies. Additionally, the research highlights a shifting landscape, with 48% expressing increased trust in brands that collect zero-party data, and interactive surveys emerging as the preferred method for consumers to share information. 

$8 B  

Skechers achieved a record $8 billion in sales for its 2023 fiscal year, marked by a 7.5% YoY increase, with international sales leading at 13.3% growth while domestic sales saw a slight dip of 0.8%. Despite setting annual sales records, Skechers faced wholesale challenges, reporting an $86.6 million segment decrease (8.3%) for the fiscal year, primarily attributed to conservative inventory management by retailers. 

25%   

Meta has reported robust financial performance, boasting a 25% YoY revenue increase and a significant 201% YoY surge in net income for the latest quarter. Despite uncertainties surrounding its Metaverse vision and Facebook's popularity decline, Meta remains a dominant force in the social media sector, poised to capitalize on emerging opportunities, as evidenced by a 6% YoY growth in Facebook's daily active user count, reaching 2.11 billion in December. 

$14.6B   

In Q4 2023, Amazon witnessed a 27% YoY growth in advertising sales, reaching $14.6 billion, contributing to an overall 14% increase in net sales resulting $170 billion. The second season of "Thursday Night Football" on Prime Video experienced a 24% YoY viewership boost, including a 14% rise in the 18-to-34-year-old demographic, according to Nielsen data. Additionally, Amazon introduced Rufus, a generative AI-powered conversational shopping experience, with expectations that generative AI will generate "tens of billions of dollars" in revenue in the coming years.  

47%     

According to a September 2023 Integral Ad Science survey by YouGov, 47% of US digital media professionals anticipate significant challenges for social media in 2024, followed by digital video, including connected TV, at 38%. The study also states that, despite these concerns both social media and digital video remain high priorities for media professionals, with key challenges including ads appearing alongside undesirable content and the diminishing access to consumer data and cookies.