Amid the pandemic and the increase in eCommerce during the health crisis, WARC Data’s Global Advertising Trends report found that brands worldwide will put $58.6 billion toward online shopping advertising.
Marketing on sites such as Rakuten and TikTok is forecasted to rise 18.3 percent globally, surging 30 times quicker than the broader digital advertising market, MediaPost reported.
GfK determined that nearly half — or 44 percent — of almost 1,000 American consumers polled anticipate purchasing only through eCommerce during the holiday season. Approximately two in ten — or 17 percent — indicate they will shop only in physical retail stores.
Approximately 45 percent note that they will purchase products through the web and have them brought to their residences, but 37 percent indicate they will buy holiday products in shops.
Twenty-five percent intended to harness digital ordering with in-store delivery, while 19 percent will use curbside pickup.
Approximately 48 percent of older consumers and 45 percent of young consumers indicated they would use digital ordering with delivery at their residences.
The news comes as eCommerce media is turning into a larger factor in the advertising world at a time when retail revenue is precious and the transition to Digital 3.0 is white-hot. The practice is a trade name for advertising on online shopping websites.
The maker of Oreo and other snacks, Mondelez International, has recently increased its efforts to advertise on online shopping sites. By placing ads that are “very relevant to the moment” for many brands like Cadbury and Oreo, CEO Dirk Van de Put said at RBC Capital Markets’ Consumer & Retail Conference, the company is reflecting changing consumer behavior.
Earlier this year, eCommerce media was receiving something of an upfront event. Night Market and Horizon Media had announced what they dubbed the inaugural eCommerce Upfront scheduled for July 13 to 17. It was to consist of different digital workshops showcasing expansion, best procedures, trends and strategies.
NEW PYMNTS STUDY: LEVERAGING THE DIGITAL BANKING SHIFT – SEPTEMBER 2020
The September 2020 Leveraging The Digital Banking Shift Study, PYMNTS examines consumers’ growing use of online and mobile tools to open and manage accounts as well as the factors that are paramount in building and maintaining trust in the current economic environment. The report is based on a survey of nearly 2,200 account-holding U.S. consumers.