Jacqui Capel forecasts retail and media trends for 2024

Today The Brave - Jacqui Capel

“It’s worth looking at several of the sub-trends that are spinning out of this huge macro shift”

By Jacqui Capel, head of media, Today The Brave

“May you live in interesting times”. A sentiment that is equally a blessing and a curse, and one I think all media professionals can relate to, gazing into the turbulence ahead in 2024.

Sometimes, it can feel like we are living in the most ‘interesting’ years on record, sitting at the culmination of 15 years of rapid advance across the web, video, and social and the evolving consumer behaviour that has both fed and resulted from that relentless push.

Of course, the hottest topic right now is the impact of exponential improvements in AI tech, algorithms and machine learning, impacting everything from the way we plan, trade, traffic and evaluate our media decisions. However, it’s worth looking at several of the sub-trends that are spinning out of this huge macro shift.

Future Trends

Retail Media is moving further up the funnel.

What that means, is more broadcast type media is being used in a more targeted way. From digital out of home to connected TV. But also, a lot of retailers are entering the media space with their own assets – you can see that from both Myer and DJs, now offering ad inventory across their assets.

This is because people are seeing the value of a more connected retail media landscape, and wanting to own the total end to end customer data journey.

Shoppable video is going to be absolutely massive next year.

In 2024, I think we’re going to see more and more functionality across all video platforms. With more directly shoppable content in many different forms. Whether that is from an influencer perspective, direct CTAs to creating shoppable video products that are considered more of an entertainment pillar, shoppertainment, you might call it.

Amazon mission to take over the Australian market

I think it’s going to tip from an advertising point of view and become the third powerhouse along with Meta and Google. We’re going to see more and more retailers funnelling their whole ecommerce model through Amazon, like we see with Alibaba in the Chinese market. Similar to what we see in the States, UK and Europe.

Looking Back at 2023

TikTok is here to stay

It is absolutely the year that TikTok proved it wasn’t coasting off the pandemic in terms of audience penetration. It’s shaping the way content is being crafted and delivered across pretty much all social (and editorial) platforms, and has pushed Gen Z internet culture into mainstream commentary. For advertisers, it’s about understanding the mix of owned and paid investments, figuring out the balance that works for them – and avoiding cringe content along the way.

Rise of conversation surrounding sustainability in the media supply chain

Media buyers are really ramping up their attention on things like sustainability, with focus on topics like carbon output in programmatic through SPO – did you know the average digital ad campaign releases 5.4 tons of carbon into the atmosphere – 35% more than what the average person emits in an entire year. ​​When digital ad campaigns are optimised for attention time, carbon emissions are reduced by an average of 63%. It’s been a conversation that’s been addressed this year by the likes of the IAS/Good-Loop partnership and I think next year we will see more and more solutions available in this market.

Content marketing continues to change in this day and age.

I think long form video has made a massive comeback – we are in the era of the 2 hour YouTube ‘video essay’ and I am here for it. Even TikTok has opened up to six minutes plus content (and endless lives), and Gen Z are back into the longer form editorial space on a variety of platforms. This year our industry had to try and combat the whole TikTok/Reels vertical video effect, reducing everything we do to a snippet of an idea. If it’s awesome and engaging, it can be LONG. Like Stella, we need to get our long-form content groove back.

Top image: Jacqui Capel

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