2024 will be a landmark year for AI and retail media, according to Kantar

Kantar reveals its first Marketing Trends Report for 2024. The study combines attitudinal and behavioral data from Kantar to help marketers refine their growth strategies for the year ahead.

AI will make your way

Around 67% of marketers see the future with AI positively. The industry is already exploring AI use cases in the content development process, this production will be increasingly important in the next year and beyond.

Culture above all

Consumers are increasingly demanding with brands. Globally, 80% of consumers say they make an effort to buy from companies that support causes they care about.

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Message Control Meets Cancel Culture

In 2024, it is companies that speak out on issues of international interest, consistent with their DNA, that will reach the hearts of consumers, despite possible short-term controversies.

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The battle for attention and emotions will intensify

62% of marketers prefer to use behavioral metrics like watch time. The use of AI-based attention predictions is already increasing and is expected to play a more important role in 2024.

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Moving Toward Holistic Measures of Success

42% of companies now include sustainability measures in their key performance indicators, compared to 26% in 2021. This trend indicates a shift towards a balance between profit, planet and people, not as a compromise, but as a strategy commercial.

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Radical innovation needed to fuel sustainable growth

Brands perceived as innovative experience three times more growth than those that are not. But innovation levels are very low in this post-Covid period. Innovation, especially radical innovation, will be important for all brands looking to find a path to growth in 2024.

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Challenger brands are taking over

In the FMCG and FMCG sector, challenger brands have grown disproportionately as they seek to challenge established concepts, ideas, needs and consumption occasions. Leading brands need to work on agility, speed to market, consumer centricity and data-driven decision making to stay in the game.

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The power of premiumization

With inflation rising, brands resort to promotions, price reductions and discounts to maintain their market share. The data shows that premiumization is a path to success: in the Kantar BrandZ 2023 ranking, 52% of brands achieved the top tier in the strategic pricing model, up from 42% in 2020. In 2024, marketers “will rely on price management to ensure price and value alignment.

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Life beyond the search bar

Online search engines are now the fifth strongest touchpoint in terms of brand impact, up from 11th in 2018. Now is the time for brands to review their digital strategy and content to ensure they appear where consumers are.

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Retail launches into advertising

In a context of changing consumer behavior, retail media is now an essential channel for engaging shoppers; data shows that 56% of retail media professionals in the United States and Canada will invest more. By 2024, buyers and sellers will need independent metrics to prove channel performance and create better advertising experiences.

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