YouTube and X Emerge as Leaders for Social Media Advertising Attention
63
According to Industry KPI data from Adelaide, YouTube dominates social media ad attention, fluctuating its attention metric (AU) but consistently higher than competitors, reaching a Q4 AU of 63 compared to the second-ranking platform's 33.5. Surprisingly, the embattled platform formerly known as Twitter emerged as a strong contender, outperforming other major platforms like Instagram, TikTok, Pinterest, Snapchat and others.
58%
71% of respondents believe virtual product try-ons using AI would enhance buying confidence, while 58% say generative AI has improved their online shopping, according to an Adobe survey of 3,000 U.S. consumers. More than half 52% are inclined to use generative AI for clothing purchases, with 71% seeing it as reassuring for online shopping decisions. Retailers are adopting AI tools, with top use cases including 40% automated product filters and 37% customized items. Adobe's report highlights that two-thirds of U.S. marketers are already using generative AI.
47.5%
The improvement in trends in the latter half of the year, e-commerce venture capital deals saw a 52.6% decrease in deal count, dropping to 461, and a 72% decline in deal value, totaling $8.9 billion in 2023 compared to 2022, according to PitchBook's Q4 2023 E-Commerce Report. Notable deals in Q4, like Leap's $22.3 million funding round, aimed to assist DTC brands, signaling a shift from the early pandemic highs, with a 47.5% decrease in deal count and a 30.4% drop in deal value in Q4. Despite online shopping's importance, there's a significant divide between retailer and consumer satisfaction, with 80% of brands believing shoppers are impressed, contrasting with fewer than 50% of consumers, per Deloitte's research cited in the report.
30%
For the first time, in-app video ads will claim over 30% of total US mobile advertising spending. In 2024, in-app video ad spending will surge 20.4% YoY to reach $61.11 billion. This constitutes over half 58% of the $105.93 billion US video ad revenues and nearly 90% of mobile video ad revenues, reflecting a significant increase from just over a quarter 26.7% in 2020. The rise is propelled by in-stream ads, particularly in ad-supported OTT services like Hulu and Netflix, and by social platforms like TikTok.
7M
Amazon reported investing over $1 billion in combatting counterfeit products in 2023, resulting in the seizure and disposal of over 7 million fraudulent items globally. Additionally, it prevented over 700,000 bad actors from creating new seller accounts, significantly reducing such attempts since 2020. The company's efforts included a drop of over 30% in valid infringement notices from brands since 2020, with a dedicated team of over 15,000 employees and its Counterfeit Crimes Unit acting against more than 21,000 offenders since 2020.
50%
A recent study by Bynder reveals that 50% of consumers can accurately identify AI-generated content, with millennials being the most adapt at spotting it. US participants are 10% more likely than UK participants to identify AI-generated content, likely due to higher awareness of AI tools like ChatGPT. While 55% of US participants correctly identified AI-generated content, only 45% of UK consumers did so, reflecting lower usage of generative AI tools in the UK. Despite this, over half of consumers prefer AI-generated content, although 52% report becoming less engaged with suspected AI-generated copy in general, particularly younger participants aged 16-24 who prefer human-written content.
750000
YouTube is introducing new monetization features like Members Only Shorts, mirroring TikTok's Series feature, allowing creators to offer exclusive content to subscribers at prices ranging from $1 to $190. With over 750,000 of its 3 million Partner Program members now earning from YouTube Shorts, and a total of $70 billion distributed to creators over three years, YouTube aims to compete with TikTok's offerings, intensifying the battle for creator loyalty and engagement.