Companies are Only Using AI in Their Marketing around 7% of the Time

7%

According to the biannual CMO survey, marketing spending has increased by 2.5% in the past year, with an expected further rise of 4.7% in the coming year, while AI adoption remains low at only 7% of marketing activities. Additionally, companies are only using AI in their marketing around 7% of the time. Marketers anticipate a 137% surge in the percentage of budgets allocated to sustainability over the next five years, currently standing at 1.9%.

42%

Nearly 42% of e-commerce orders last year involved stores, marking a significant increase from about 27% in 2015, according to research firm GlobalData. This shift highlights the growing integration of physical stores into the online shopping experience. The trend signifies a resurgence of physical retail, demonstrating that online-only retail has its limitations and emphasizing the continued relevance of traditional storefronts in the retail landscape.

61.5%    

US ad spend on off-site retail media is expected to surge by 61.5% this year, reaching $10.64 billion, with projections to more than double to $28.05 billion by 2028, , constituting 21.8% of total retail media network ad spend. Shawn McGahee, head of retail media at Google, highlighted scale as a crucial factor driving off-site growth, emphasizing the importance of reaching audiences and driving sales at scale. Additionally, retail media networks expand formats to meet marketers' needs for performance and brand-building.

55.7%

DoorDash's dominance in the US restaurant delivery intermediary sales market is expected to reach 55.7%, while Uber Eats' share is projected to shrink to 29.0% this year. The partnership between Instacart and Uber aims to challenge this trend by enabling Uber to penetrate suburban markets where it's underrepresented, leveraging Instacart's extensive presence. Additionally, the deal allows Instacart to reinforce its position as a go-to platform for food delivery and fend off competition from DoorDash's fast-growing grocery business, which is forecasted to grow by 33.4% this year.

39%

Reddit's advertising business saw a significant uptick for the quarter, generating $222.7 million, up by 39% from the previous year, contributing to the platform's total revenue of $243 million, marking a 48% year-over-year increase. However, despite this growth, Reddit reported a loss of $575 million, largely attributed to expenses associated with its IPO. Additionally, the platform's user traffic surged, with 82.7 million daily active unique users, reflecting a 37% increase year over year.

161.6 M

According to Worldpay's March 2024 report, digital wallets are set to dominate the point-of-sale transaction landscape, comprising 46% of total value by 2027. In the US, over half of the population, around 161.6 million users, are expected to use digital wallets this year, with Apple Wallet leading the market at 49.0% usage among mobile wallet users, followed by Google Wallet at 30.1% and Samsung Wallet at 12.9%.

7%

CivicScience data revealed that 7% of US adults utilized eBay for purchasing secondhand luxury fashion and accessories over the past year. Despite this, eBay's marketplace sales are forecasted to decline by 1.1% year-over-year in 2024, reaching $35.02 billion, amidst competition from platforms like The RealReal and thredUP, and a slower luxury retail market growth, following eBay's initiatives such as launching a luxury consignment service with AI-powered authenticity guarantees amid staff cuts.