By Danny Molyneux, general manager, Claxon.
There’s no doubt 2023 brought some significant changes across the media and technology landscape. It’s hard to decide which trends have had the most impact, but here’s my top three trends for 2023 and beyond: Extended Reality (XR) Experiences, The Continued Social Commerce Expansion, and AI-Enhanced Personalisation. All of these not only revolutionised the way we consume content but also set the stage for continued innovation into 2024.
Extended Reality (XR) Experiences: Shaping the Future of Engagement
Extended reality, encompassing augmented reality (AR) and virtual reality (VR), emerged as a driving force behind a new era of storytelling. In 2023, XR experiences exceeded their initial novelty, finding practical applications in gaming, education, and entertainment.
Gaming experienced a paradigm shift as XR technologies provided players with immersive and interactive environments. From life-like simulations to augmented overlays in the real world, gaming became a multi-sensory experience. Educational institutions embraced XR to create dynamic learning environments, allowing students to explore historical events or dissect virtual organisms. In entertainment, XR experiences redefined live events. Concerts, sports matches, and theatrical performances seamlessly blended the physical and virtual realms, offering audiences a front-row seat from the comfort of their homes.
As 2024 unfolds, XR is poised to deepen its impact, with advancements likely to enhance realism and accessibility across various sectors. The Meta and Ray-Ban partnership is certainly one to keep an eye on as the Meta smart glasses continue to gain in popularity. And then consider the perfect execution of XR in the recent introduction of Mercedes EQ augmented reality heads up display. Merging reality and technology seamlessly into the consumers’ everyday activities.
Social Commerce Expansion: Bridging the Gap Between Content and Commerce
The integration of e-commerce features into social media platforms witnessed unprecedented growth in 2023. Social Commerce Expansion became a dynamic force, reshaping the way consumers discover and purchase products. Platforms seamlessly combined content and commerce, fostering an environment where users could make purchases directly within the social ecosystem. The recent Meta and Amazon partnership is a sure sign of things to come and a great example of the two worlds of social and e-commerce joining forces to create a potentially unstoppable superpower.
Live shopping experiences, featuring real-time product showcases and influencer endorsements, continue to gain immense popularity. Users found themselves captivated by interactive product demonstrations (including UGC) and the ability to purchase showcased items with a simple click. Brands and influencers, recognising the potential of this trend, capitalised on the direct connection between content consumption and consumer purchasing behavior.
In 2024, The Social Commerce Expansion is poised to further evolve. The lines between entertainment and shopping will blur as more platforms integrate advanced shopping features. The democratisation of e-commerce through social channels is likely to empower small businesses and individual creators, changing the dynamics of online retail.
AI-Enhanced Personalisation: Crafting Tailored Experiences for Every User
Artificial Intelligence (AI) took centre stage in 2023, playing a pivotal role in tailoring content to individual preferences. Advanced algorithms analysed user behaviour, preferences, and interactions to deliver highly personalised recommendations and experiences across media platforms.
The impact of AI-Enhanced Personalisation was evident in streaming services, where content discovery became more intuitive. This year users experienced curated playlists as Spotify DJ was released, an AI generative personal DJ that creates custom playlists based on your own listening habits and preferences, we also have targeted movie recommendations from Netflix now this has been around for a while but continues to evolve to a level of hyper-personalisation not seen before, and tailored news feeds that are catered to Users’ unique tastes.
This personalised approach not only enhanced user satisfaction but also increased engagement and retention rates.
In 2024, AI-Enhanced Personalisation is expected to reach new heights. As algorithms become more sophisticated, media platforms will delve deeper into understanding user preferences, creating a hyper-personalised content landscape. This trend is not limited to entertainment; it is likely to permeate news, advertising, and even social interactions, fundamentally altering the way individuals engage with digital content.
As we look ahead to 2024, the ongoing evolution of these trends promises to usher in a new era of immersive, interactive, and personalised media experiences, fundamentally transforming the way we consume and interact with digital content.
See also: Meeting of the Minds: Claxon’s Daniel Willis and Jessica Mirosevich
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Top Image: Danny Molyneux