Analysing how impatience impacts consumer behaviour in an online world
Lessons from pizza delivery can be transferred to any business that sells products online and relies upon delivery channels.
ADVERTISING SPENDING
E-commerce and media consumption shifts will drive digital ad sales
By our News Team | 2022
Digital advertising is expected to rise by 8% next year, says Magna. OOH and digital video will be among the best performers.
Magna, the global media investment and intelligence company, has downgraded its growth estimates for the global advertising industry and is now expecting 5% growth in 2023, versus the 7.5% predicted in its June 2022 report.
It attributes this expected downturn to a deteriorating macroeconomic environment that includes factors such as the Russia-Ukraine war and the international cost-of-living crisis.
Photo by Andres Ayrton from Pexels
But digital ad sales are expected to rise by 8%, reaching US$557-billion in global sales and comprising 65% of all ad sales.
E-commerce and ongoing shifts in media consumption habits will drive digital ad sales, Magna believes, with digital video expected to be the fastest-growing ad format.
A recovery in social media?
A recovery in social media could see ad sales increase 7% in the segment, while search is expected to gain 10%.
OOH had a brighter-than-most 2022 and is expected to make a full global recovery in 2023, reaching $33.5-billion in ad revenue.
Strong growth is expected for ad-supported video on demand and linear addressable. Resilient pricing and sport genres are also expected to cushion the TV sector, while rising concerns around brand safety could slow digital investments for some marketers, potentially benefiting TV.
”Marketers continue to value the brand safety that editorial media vendors deliver, combined with expanding cross-platform opportunities,” said Vincent Létang, Executive Vice President of Global Market Research at Magna and author of the report.
Major global markets such as China and India could experience a recovery next year. China, the second largest ad market reflecting 15% of global revenue, is expected to grow 7% to $128-billion following a weak 2022 performance of 3% growth. The slow year was largely driven by China’s zero-Covid policy, which has led to internal protests and market disruptions.
India, which is among the top 15 advertising markets globally, is expected to grow 14% next year, with South Korea’s market expected to grow 7%. However, key markets such as Germany, Italy, Spain and Japan are forecast to have little growth.
Angola plans a multimodal logistics platform on border with DRC
The platform along the Lobito Corridor is expected to include warehouses, a fuel terminal, a mineral terminal and industrial areas.
AI won’t replace market research. But it will expose weak strategy
Much of the broader conversation around AI in market research assumes conditions that do not consistently exist across many African markets, writes Soyinka Witness.
AI search behaviour by SA consumers more than doubled in a year
Consumers are asking AI which retailer offers the best deal, comparing products or researching brands before visiting a website or store.
Port of Mombasa embraces integration and technology-driven solutions
Kenya Ports Authority is working to improve cargo flow and efficiency to support growing trade volumes at vital import-export gateway.
Brands must deliver sustainability through actions, not words
African consumers want ethical, responsible choices. Therefore, brand growth hinges on making sustainable choices affordable and relevant.
Africa’s next competitive advantage isn’t AI. It’s commercial capability
Examining the tech-hype trap and why human judgement, not technology, will pave the way to competitive advantage in Africa.
Former AGB Nielsen commercial lead Hopolang Mothibeli joins Ornico
Strategic senior appointment comes at a time when the local advertising-intelligence landscape is entering a period of significant change.
From inflation to consumption: West Africa’s FMCG turnaround
Ghana has shifted decisively into consumer-led recovery, with Côte d’Ivoire and Cameroon following more gradually.
‘New direction’ for the integration of African marketing and business
AMC President discusses the upcoming conference’s ‘full circle’ and the gathering’s role in navigating marketing’s paradigm shift.
Retailers are re-engineering the checkout – and removing friction
Africa’s retail future may be led not by size, but by those who most effectively remove the friction between customer intent and transaction.