Commerce has become so ubiquitous on screens and apps that people no longer go to the store
to make a purposeful purchase, but they can always make a spontaneous purchase because they are constantly
surrounded by the opportunities, where impulse to action is just a click. We are witnessing the transformation
of retail sites into media sites where consumers are not only sold to, but also engaged with targeted messaging
and content.
Commerce penetrates into television. The rise of smart TVs means that for many households,
the TV will potentially become the only device through which they can make a purchase, without relying on
secondary technology such as scanning a QR code, visiting a URL on the screen or calling a specified number.
>According to eMarketer, in 2024 retail media spending in the US will reach $61.15 billion,
accounting for nearly 20% of all digital advertising spending. Retail media is the advertising of retail players
that is created using their data and their own multi-channel capabilities. The most successful proponent of
retail media is Amazon, whose advertising revenues have grown significantly over the past five years. As of the
end of June 2022, Amazon reported nearly $9 billion in revenue in three months, an 18% year-over-year increase.
This makes it one of the largest advertising platforms, despite the fact that retail media is a secondary focus
for Amazon. For brands to win in this fast-paced environment, they need to move to ecosystem commerce
experiences throughout the customer journey. All digital information must become shoppable, and all purchases
must be available through a digital apps.
A super-app combines various functions, usually messaging, commerce, booking and payments. It
eliminates the need to download multiple specialized apps, providing one app, one sign-in, and one user
experience. WeChat, which started as a messaging app, is a good example of a super-app. It expanded its
functionality to video, content, entertainment, commerce, and also integrated other widgets. This way, you can
order a taxi through Didi while in the WeChat app. Another example is TikTok, which has evolved from a video
content app to one that includes commerce and video streaming. And recently, the parent company registered the
TikTok Music trademark in several markets, which could mean its potential entry into the competitive field of
music services such as Spotify and Apple Music.
Google's decision to delay the end of support for third-party cookies gave the industry more
time to adapt and test. At the same time, Gartner predicts that by the end of 2024, the personal data of 75% of
the world's population will be protected by modern privacy rules, and therefore Google's role as an arbiter of
changes in this context is becoming less and less decisive. Advertisers need to continue to look for new
technology solutions for their own business goals and realize that although digital media may seem global, laws
differ significantly from country to country, so it is very important to work with local partners that meet all
the requirements of the advertising territory.