Cotd Trends & Statistics
Digital drives growth in audio ad market, as radio broadcast advertising shrinks
US digital audio ad spend will reach $7.12 billion this year, according to our March 2024 forecast.
Restaurants are using AI to personalize marketing
41% of US restaurant operators are planning to use AI for sales forecasting and scheduling, while 33% are using the tech for personalized marketing, according to December 2023 data from Restaurant365.
Social video ad spend increases, but growth rates stall
US social video spend is still growing, reaching 45.2% of total digital video ad spend, or $48.89 billion, this year, per our March 2024 forecast. But that share growth is slowing, with rates increasing just 1% between 2024 and 2026.
eBay is the most popular site for secondhand luxury fashion and accessories
57% of US adults have used eBay to purchase secondhand luxury fashion and accessories online in the past year, according to March 2024 data from CivicScience.
Nearly two thirds of US states have enacted or introduced privacy laws
16 US states have enacted comprehensive consumer privacy laws as of April 2024, according to the International Association of Privacy Professionals.
Digital wallets will approach half of POS transaction value share by 2027
Digital wallets will be the only payment type to increase its share of worldwide point-of-sale transaction value between 2023 and 2027, making up 46% of total value by the end of that time period, according to a March 2024 report from Worldpay.
Young adults prefer malt seltzers to cocktails
US households with heads of households aged 21 to 34 are the biggest malt seltzer drinkers, according to March 2024 data from Circana.
Mobile wallets are used most at in-person events
Food or merchandise at in-person events was the most popular purchase category for mobile wallet users worldwide in January 2024, purchased by 29% of users, according to Kantar.
Most teens and parents are comfortable with how much time teens spend on smartphones, social media
51% of US teens and parents think teens spend the right amount of time on smartphones, while 64% think they spend the right amount of time on social media, according to October 2023 data from Pew Research Center.
Consumers view dynamic pricing as price gouging
Over two-thirds (68%) of US adults somewhat or strongly agree that dynamic pricing (the practice of raising prices when demand is high and dropping them when demand is low) is price gouging, per a March 2024 CivicScience survey.
Retailers leverage store intelligence tech to improve price planning
Nearly half (49%) of US retailers report using store intelligence technologies (like AI/machine learning, IoT sensors, shelf-edge cameras) have improved price planning, according to a March 2024 report from Coresight Research sponsored by Simbe.
More than two-thirds of TikTokers have increased usage despite shopping content changes
Only 8.3% of users who noticed shopping-related content changes said their TikTok usage decreased, the same report found, according to our April 2024 “US Social Commerce” survey.
Study: Cookie deprecation delay defies marketer expectations
67% of marketers thought third-party cookie deprecation in Chrome would occur this year, according to August 2023 data from ID5. Google just announced that it was delaying this timeline to 2025.
Ecommerce resale is growing slower than previously expected
US ecommerce resale volume will hit $80.60 billion this year, a growth of 3.4% YoY, per our December 2023 forecast.
Despite interest in non-legacy currencies, Nielsen remains the top choice for upfronts
Interest in non-legacy currencies is up slightly, but 58% of US advertisers say they still need to learn more about them before putting them into action, according to an April 2024 survey from iSpot.tv.
Brands are still investing big in sponsored content on social media
US marketers will spend $8.14 million on social media sponsored content this year, marking 16.0% growth YoY, according to our March 2024 forecast.
YouTube is close behind OTT in US digital video viewers
254.2 million people in the US will watch OTT video this year, per our February 2024 forecast. YouTube is close behind, with 241.8 million people watching on the platform.
Amazon will surpass 40% of US ecommerce sales this year, despite competition in grocery, home improvement
Amazon will account for 40.4% of US retail ecommerce sales or a total of $491.65 billion this year, according to our February 2024 forecast.
TikTok leads time spent on social for most US adults
US adults ages 18 to 54 spend more time on TikTok than any other popular social platforms, according to our forecast.
Eight in 10 Amazon Prime Video viewers use the ad-supported tier
Eight in 10 US Amazon Prime Video subscribers will be ad-supported this year, according to our February 2024 forecast.
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