US retail media ad spend will hit $45.15 billion this year, an increase of almost 20% over 2022, according to our forecast. Growth will accelerate each year through 2027, when we expect spend to reach $106.12 billion.
Seventy percent of marketers expected budget cuts from 2022 to continue into 2023, according to data from performance marketing firm Wunderkind. Here are five ways marketers can balance managing budget constraints with getting results, including cutting down on paid media, focusing on brand building, and diversifying to avoid risk.
Snapchat+ hits 3 million subscribers in part thanks to MyAI chatbot, while Snap focuses on partnerships and exclusive content to boost engagement.
Microsoft’s ad service won’t be the only one ditching Twitter: The companies are clashing over API access, but Twitter’s decline makes it an easy breakup.
Upstarts in China and traditional automakers in the US are forcing Tesla to discount existing inventory. How the EV leader responds could determine whether it maintains its position.
Autonomous food delivery robots gain momentum: Uber Eats’ food delivery robot test in Northern Virginia builds on the company’s delivery pilots in Miami, Los Angeles, and Houston.
Delivery isn’t as essential as it was early in the pandemic: That’s creating a challenging environment for pandemic-era winners such as Deliveroo and Getir.
Patient empowerment is a double-edged sword: The Edelman Trust Barometer shows a growing number of consumers around the world are trusting friends, family, and social media for medical advice.
Digital health startups to watch: This week, we spotlight data analytics company Arcadia and digital mental health player Spring Health on the back of fresh funding.
Another telehealth company gets into weight loss drugs: Teladoc’s struggle with Livongo leads the virtual care company into the potentially lucrative obesity drug market.
Meta fires its social media and metaverse techies: The latest round of layoffs includes a questionable gaming pivot. Like its Big Tech peers, Meta’s big picture, long-term strategy is missing.
Expensive headsets aside, Apple already has the necessary developer, app, gaming, fitness, and streaming video ecosystems to build its next big thing.
Meta's social VR platform, Horizon Worlds, opens to teens: Lawmakers have concerns, but the Facebook parent is adamant on building its metaverse user base.
Exclusive podcasts didn’t pay off for Spotify: With slower listener growth overall, the company is bringing some shows to rival audio platform
BuzzFeed News shuts down: The news industry is facing a number of challenges, including digital ad revenues.
Retailers struggle to find a balance between growth and sustainability: Efforts to reduce environmental footprints often run counter to the desire to grow sales.
Moving across the US-Canada border can be the first step toward international expansion for retailers. Canadian brands like lululemon athletica and Aritzia are thriving in the US. Meanwhile, US-based companies Lowe’s, Nordstrom, and Bed Bath & Beyond recently announced they were leaving Canada. And let’s not forget Target’s famous Canadian failure. Here’s a look at how brands on both sides of the border have fared, and the lessons you can learn from them.
OpenAI unlikely to meet Italy’s April 30 mandate: The EU’s GDPR requirements are wholly at odds with how a lot of generative AI models are trained. Tech companies should have anticipated fallout.
Grim Q1 results for investment banks means more job cuts are coming as the wait for a market rebound drags on.
NorthOne Bank is under fire for a potential data breach. In passing the blame, its CEO is risking the bank’s reputation.