Gen Z shoppers embrace Temu, Shein, and TikTok Shop: 1 in 4 makes a purchase at a Chinese online marketplace at least once a week, as their array of cheap, trendy goods proves impossible for the price-sensitive cohort to resist.

Key stat: 56% of internet users in China have used generative AI (genAI) compared with 46.3% of internet users in the US, according to February 2024 data from the Ministry of Internal Affairs and Communications (MIC) - Japan.

Acquirers, networks, and issuers each play distinct roles in the payments purchasing chain. But those roles are shifting as providers adapt to the rise of software and value-added services, increased payment method choice, and cloud-based innovation.

Dramatic shifts are in the works for 2024, as genAI, changing media norms, and innovative commerce redefine the business landscape. Our top nine trends explore what’s in store.

Shein made an unforced error: Its attempt to improve its public image by inviting influencers to its 'innovation center' only drove more scrutiny as it pursues an IPO.

Close to a third of US digital buyers will purchase from a company located outside the country in 2024, for a total of 71.8 million cross-border ecommerce buyers, per our forecast.

China’s example would suggest that retail media has enormous headroom for growth in the US. Companies like Amazon have been growing their ad revenues by leaps and bounds, and yet ecommerce channel ad spending will still only represent 14.6% of the US digital ad market this year. In China, the share will be 38.1%.

Worldwide ecommerce sales growth has declined to all-time lows, and digital ad spending growth has followed in its tracks. What can we learn from existing trends and the long-term outlook for these two key metrics?

Cross-border ecommerce continues to rise in popularity among US consumers, even as growth in the number of buyers slows. In 2023, the US will rank second globally in total cross-border buyers, with 69.8 million, per our forecast. It will trail far behind China’s 280.0 million, but that’s because of relative population sizes.

Amazon is the top dog of US retail, accounting for 37.6% of all US ecommerce sales this year for a total of $431.11 billion dollars, according to our forecast. While the giant has a successful stronghold in many US industries, Amazon isn’t dominant everywhere, especially as it pertains to a physical footprint and getting consumers comfortable with its elite tech. Here are a few areas Amazon hasn’t overtaken—yet.

The rise of shopping apps selling ultralow-cost goods from China is drawing more value-driven US consumers. But are their strategies sustainable over the long term?

Cross-border ecommerce is rising in popularity as US consumers look for value amid inflation. But growth has slowed from previous boom years.

Digital ad spending will increase slightly faster this year than in 2022, but the bump will be minimal. Total media ad spending growth will roughly hold steady. But there are parts of the world where spending is surging.

TikTok is launching ad product Pulse Premiere, an extension of Pulse that allows publishers like Condé Nast, Buzzfeed, and NBC to make money off of ads featured by all of their own content, according to the Wall Street Journal. The new product is part of TikTok’s efforts to make the platform more appealing to publishers, even as risks of a US ban loom.

China still has some clout as the biggest chip market in the world, and the restrictions could spur competition and growth in domestic semiconductor production.

Citing security concerns, the bill now goes to Gov. Greg Gianforte, who banned TikTok on state-owned devices. TikTok is pushing back, but other states could accelerate all-out bans.

A chatbot-induced suicide could get regulators' attention: AI’s Eliza effect is triggering mental health issues. Companies will struggle to balance entertainment value with safety amid the AI arms race.

Chewed out on Capital Hill: TikTok CEO testimony fails to convince lawmakers, leaving platform's future in the US uncertain

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

Temu’s number of unique US visitors increased by nearly nine times between September and December 2022, according to Comscore Media Metrix Multi-Platform. That made Temu more visited than Chinese goods sellers Shein and Wish by the end of last year, before it rose to greater prominence with its Super Bowl ad campaign.