AI is Changing the Media Industry

72%

In the media industry, 72% of leaders believe they need to reshape their organizations’ talents and skills to adapt to AI advancements. While only 27% currently view AI skills as very important, this is expected to rise significantly, with 70% predicting AI will be crucial within three years. Additionally, 90% want to hire individuals who challenge the status quo, and 66% aim to recruit outside of the media industry to meet evolving needs.

84%

In-store retail media is emerging as a powerful tool, especially as 84% of retail sales still happen in physical stores. Technologies like digital kiosks, end caps, and vertical banners are crucial in capturing consumer attention and driving purchases, particularly for mid-market retailers where foot traffic outweighs online site visits. This shift underscores the growing influence of in-store advertising over online ads in shaping consumer behavior.

32%

According to a Gartner survey, 32% of U.S. consumers plan to start their holiday shopping before November, with only 14% expecting to spend more this year compared to last. In contrast, 21% intend to reduce their holiday spending, primarily due to concerns about higher prices, leading 20% of shoppers to shift more of their purchases online. Additionally, 57% plan to utilize hybrid shopping services like Buy Online, Pickup In Store (BOPIS) for added convenience this holiday season.

17%

A recent Pew Research Center analysis reveals a significant rise in news consumption on TikTok, with regular users increasing from just 3% in 2020 to 17% in 2024. Notably, 39% of adults under 30 now use TikTok for news, compared to only 3% of those aged 65 and older. Among TikTok users, 52% report regularly getting news from the platform, surpassing the news consumption rates on Facebook.

100,000

In anticipation of the holiday season, Target plans to hire approximately 100,000 seasonal employees, aligning with its hiring strategy from the past three years. Despite forecasts indicating the slowest growth in holiday retail sales in six years, Target is proactively launching early promotions and offering budget-friendly items, including over half of its holiday toys priced under $20, to attract cost-conscious shoppers and enhance their shopping experience.

3.3%

Deloitte’s latest forecast estimates that holiday retail sales will rise by 2.3% to 3.3% from November to January, reaching a total of $1.58 trillion to $1.59 trillion. This growth is slower than last year’s 4.3% increase but indicates a return to more normalized spending patterns following the pandemic. E-commerce is expected to be a key driver, with online sales projected to grow by 7% to 9%, totaling between $289 billion and $294 billion during the holiday season.

19.6%

Gen Z is transforming the shopping landscape with their unique buying behaviors. According to a recent report, 19.6% of U.S. Gen Z shoppers look up brands on social media before making a purchase, compared to just 7.4% of older shoppers. This generation values in-store experiences as well, with 50.6% recently purchasing products they discovered while shopping physically, highlighting their blend of online and in-store engagement.