About 24% of people now primarily use social media for online searches. A third accessing the internet solely via mobile phones. Gen Z uses Google 25% less than Gen X, opting more for platforms like TikTok for their searches. YouTube is also increasingly being used like Google, with 57% of people searching for information on it.
Tuesday, June 4, 2024Dentsu forecasts ad spend to grow 5% in 2024, for a total of $754.4 billion worldwide. Ad spend during the remaining months is expected to be fueled by a buoyant digital advertising market, the Olympics, and the US election. Digital advertising spending is expected to increase by 7.4% and capture 59.6% of the market this year.
Nearly 61% of respondents to a new survey said they had changed their online shopping habits in response to higher prices, hinting at the long-term impacts of inflation. Almost 90% of respondents said their cost of living has gone up over the past 5 years. About half of respondents said that they've considered stacking multiple coupons or reselling highly desired products. Among the factors that persuade online shoppers to buy from a certain brand are free shipping (63%), affordable goods (61%), frequent sales (36%), free and straightforward returns (34%), and loyalty incentives (33%).
Traditional search engines are losing relevance, with users preferring personalized recommendations from social media and other platforms. Gen Z in particular seeks trustworthy, curated shopping experiences and is wary of AI and influencer-driven information. Reddit is considered a highly trustworthy source, often on par with recommendations from friends and family. The platform offers ad tools that help brands place their products in relevant subreddit streams, capitalizing on its role as a discovery tool.