Retail marketers name ecommerce, TikTok, generative AI as most important trends of 2024
Key stat: Ecommerce everywhere, TikTok and social video, and generative AI are the top three trends that retail marketers worldwide are watching this year, according to a November 2023 MediaOcean survey conducted by TechValidate.
Beyond the chart:
- We forecast US ecommerce sales will reach $1.217 trillion this year, an 8.2% increase from 2023. By 2028, ecommerce sales will represent just over a fifth (20.4%) of total retail sales in the US.
- US adults will spend an average of 50 minutes a day with social video, over half (58.4%) of total time spent with social networks, per our forecast.
- The top commerce use cases for generative AI among retail professionals worldwide include generating product recommendations for store associates to use in-store (currently used by 59% of retail professionals), creating conversational digital shopping assistants (55%), and creating virtual models for product detail pages (52%), according to a June 2023 survey by Salesforce.
Use this chart:
- Illustrate retail industry trends.
- Justify investments in ecommerce, social video, and generative AI.
