U.S. Retail Sales Experienced Decline in January
0.8%
After a robust December holiday shopping season, U.S. retail sales experienced an unexpected 0.8% decline in January, as consumers started the year with less enthusiasm. The Commerce Department's report, which revised December's gain to 0.4%, indicated a 0.6% drop in sales excluding autos, contrary to economists expectations, raising concerns about a potential weaker growth outlook for the year due to factors like higher interest rates and reduced consumer spending.
13.5%
According to a September 2023 YouGov survey referenced by Integral Ad Science, half of US digital media professionals believe that social media presents the most potential for innovation and opportunities in the next 12 months. In line with this, a forecast from October 2023 predicts a 13.5% growth in US social network ad spending reaching $82.88 billion in 2024 as advertisers seek innovative ways to engage consumers on social platforms.
70.2%
Marketing Week’s 2024 Career and Salary Survey highlighted a notable age imbalance in the marketing profession, majority 70.2% of surveyed marketers falling within the 26 to 45 age range. The data indicates a persistent issue of ageism, as 40.2% are aged 26 to 35, reflecting a prevalent focus on 'digital natives' and a youth-centric approach, leaving older marketers marginalized in the industry.
$3.96
Crocs is planning to open 30 Heydude brand outlets as part of its early-stage retail strategy. The company reported record annual earnings, with revenue hitting nearly $3.96 billion, up 11.5% from the previous year, and a net income of $792.6 million, a 47% increase YOY. In the fourth quarter, Crocs revenue reached $960.1 million, up 1.6% from the previous year, and net income surged to $253.6 million, up 84% from the same period last year. The Heydude brand saw a 6% increase in annual revenue, reaching $949 million, with operating income exceeding $200 million.
$2.3B
Walmart the retail giant plans to acquire smart TV maker Vizio for $2.3 billion to leverage its SmartCast operating system for accelerating Walmart Connect, its retail media network. In the Q4, Walmart's total revenue reached $173.4 billion, up 5.7% from the previous year, contributing to a 6% annual increase to $648.1 billion in total revenue and a 32.2% rise in operating income to $27 billion. U.S. net sales for the year rose 5.1% to $441.8 billion, with operating income increasing by 7.4% to $22.2 billion, and U.S. comparable sales (excluding fuel) grew 5.6% for the year.
15.9%
As per eMarketers December 2023 forecast, it is projected that US programmatic digital display ad spending will surge by 15.9% YoY, outpacing the growth rate of nonprogrammatic digital display ad spend by threefold. The forecast indicates that over 90% of digital display ad dollars will be allocated programmatically this year. Looking ahead, US programmatic digital display ad spending is expected to grow by 13.3% next year, reaching $178.25 billion.
265%
Nvidia's Data Center business achieved a remarkable $18.4 billion in Q4 sales, showcasing the company's substantial gains from the current surge in AI. The data center unit exhibited a remarkable 409% growth compared to the previous year, surpassing analysts expectations of $17.06 billion. The company reported a 265% YOY increase in total revenue, attributing the surge to robust sales of AI chips, notably the H100 in the "Hopper" series, designed for server applications.