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Endorsements by celebrities, influencers, bloggers, and creators were cited far more frequently by consumers in this group across the clothing, footwear, and accessories categories.

Technology to empower brand-influencer relationships: 鈥淧artnering with creators is a human-to-human experience. How can we [create new tools] to make that as efficient as possible?鈥� said Instagram鈥檚 head of business marketing, Bridget Evans. Third vs. first-party platforms: Creators need both.

Prove the value of diverse digital content that goes beyond product listings, such as influencer videos. More like this:. Shoppers want AI to help with product research and customer service. Most social media users research on social platforms before making a purchase. Physical stores have more influence than any single digital channel in driving fashion discovery.

On average, US consumers will spend 49 minutes a day watching social video in 2024, a 5.8% increase YoY, per our June 2023 forecast. The number of US baby boomers that cite following influencers as a top reason for using social platforms has grown 22% since Q2 2021, per GWI.

Healthcare and pharma brands will want to allocate resources to particular advertising channels based on where consumers are spending the most time. Traditional TV is still the most prevalent鈥攁nd effective鈥攎edium for getting healthcare ads in front of consumers, but we estimate that in 2024, US consumers will spend just over 8 hours per day with all digital media overall, on any device.

US spending on identity solutions and services will increase by 13.0% YoY to reach $10.4 billion this year, per the Winterberry Group.

However, YouTube is the most popular platform where US internet users watch creator- or influencer-led livestreams, according to The Influencer Marketing Factory. The bottom line: With US retail social commerce sales growing to $130.10 billion by 2026, per our forecast, it鈥檚 easy to see why YouTube has social commerce on the brain.

Alibaba and JD.com, China鈥檚 other ecommerce giants, never gained substantial traction in the US, partly due to their lack of spending to acquire customers. US-based Wish spent heavily on digital ads and rode the pandemic-driven ecommerce boom to an IPO鈥攂ut has since lost its way.

The Walt Disney Co. reported that the former added 12.1 million subscribers worldwide in its fiscal Q4 2022, but its revenues of $20.15 billion missed expectations by more than $1 billion. Meanwhile at YouTube, premium subscriptions have soared over the past year, and the platform is bringing Shorts to connected TV to squeeze more ad revenues out of the increasingly popular format. More like this:.

Self-reported spending is down 6% among US teens (which includes Gen Alpha and Gen Z consumers), but they are still shelling out on beauty, according to Piper Sandler鈥檚 latest Taking Stock with Teens survey.

Compared with Instagram Reels, TikTok has a higher engagement rate for accounts with more than 100,000 followers, per September 2023 data from The Influencer Marketing Factory. 鈥淲e've really been able to see that people's lives are changed overnight [by going viral],鈥� Okamoto said.

Why it matters: Platforms are in a competition to see who can be considered the most creator friendly鈥攁nd this new service offers an alternative revenue stream for content creators. This new offering allows brands to take on user-generated content for advertising.

Those rules dovetail with the FTC鈥檚 efforts to combat influencer industry; the commission last year sent letters to over 700 companies warning them they can be fined for secret sponsored content and bogus ratings. The fake reviews industry causes significant harm, as it influenced roughly $152 billion in global spending last year, per a World Economic Forum report.

Yeah, I don't think so because this is a good way for influencers to build cred and follower accounts in the short term. But if you're a creator trying to make money, this is a terrible strategy. Platforms or ad revenue sharing models are notoriously opaque. And I think the smarter influencers and creators will bank more on brand partnerships if they're trying to generate revenue.

Digital grocery adoption soared during the pandemic when consumers were spending more time at home and avoiding shopping in stores. Since then, many have continued to use these platforms for their easy ordering and fulfillment options. Alcohol is inherently different from core food and beverage products. For most consumers, alcohol isn鈥檛 viewed as a necessity.

Spending on social marketing activities over the next 12 months is expected to hit its highest level since the height of the pandemic, per August 2023 Deloitte, Duke University鈥檚 Fuqua School of Business, and American Marketing Association (AMA) data. Agencies are buying social and influencer firms.

In today鈥檚 episode of The Banking & Payments Show podcast we talk about how financial services companies partner with creators on social media to reach younger audiences. In the 鈥楬eadlines鈥� segment we examine the partnerships between banks and influencers by discussing the 蘑菇AV article, 鈥淗ow to make finfluencer partnerships work with a smaller marketing budget.鈥� And in the 鈥楽tory by Numbers鈥� segment, we shift the conversation to how many financial influencers there are on social media and the steps a bank needs to take to find the right finfluencer to partner with. Join the discussion with host, Rob Rubin, content creator and finfluencer, Taylor Mitchell, and analyst, Lauren Ashcraft.

What trends will be talking about this year? Economic pressures will push retailers to look for new revenue streams this year.

Pinduoduo owner PDD鈥檚 growth slowed in Q4: That reflects a sluggish retail landscape in China, which is why the company aims to diversify its revenue streams.

Report: Influencer Marketing 2022. Article: Instagram pivots away from social commerce to sharpen its focus on advertising. Article: College athletes can now engage in brand deals. Read yesterday鈥檚 Chart of the Day here.

You mention in the piece revenue, struggling might X's ad revenues have fallen 50% since Elon Musk bought the company nearly two years ago. Also during that time, we estimate that daily time spent on the platform is down 14%. That is all we have time for for this episode. Thank you so much, Jeremy, for hanging out with me today. Jeremy Goldman (19:29):. Pleasure, as always. Marcus Johnson (19:30):.

Gen Z buys into influencer-branded products because of their focus on authenticity. 鈥淔ans want to believe that the celebrity or influencer is creating a product because they believe in it, not just because it鈥檚 a popular or trendy thing to do,鈥� said Canaves. Payments pay off: Innovations in payments will unlock more spend from Gen Z as buy now, pay later (BNPL) integration becomes even more seamless.

Online fashion resale remains a fast-growing retail channel despite ongoing economic headwinds鈥攁nd Gen Z is the driving force. How can brands and retailers venturing into fashion resale find success amid pullbacks on discretionary spending?

顿颈蝉肠辞惫别谤测鈥拢辞迟 influencers鈥攊s what separates TikTok and Amazon鈥檚 ecommerce businesses: The retail giant is trying to replicate TikTok鈥檚 success via its 鈥淚nspire鈥� video feed.