The year 2021 marks a new era for retail and ecommerce. The pandemic drove a massive shift in almost everything digital, and while 2020 will remain an anomaly in terms of the frenzied pace of adoption, consumers’ new behavior is here to stay. Over the next five years, digital activities will continue growing from today’s accelerated base.
Snapchat struck a new deal with Gannett that shows it’s going after local ad dollars. Instagram partnered with Shopify to ease ecommerce transactions on its site. Twitter started exploring subscriptions and shoppable tweets, while continuing to work on its direct-response offerings. WHAT’S IN THIS REPORT?
The bigger picture: For years, ad spending has been on the decline in many forms of media, but podcast ad spend has seen growth even through the pandemic. US podcast ad spending will surpass $1 billion this year and exceed $2.5 billion in 2025. Advertising has been a major source of revenues for audio platforms like Spotify and Amazon Music.
There's a certain amount of people who prefer to shop in-person—and as a brand that has accessibility in mind, we don't want to exclude people who don't want to shop online. So, I think moving into stores was always part of the plan.