$1.3 trillion in Online Sales

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Welcome to today’s edition of Marketing Scroll, bringing you the latest marketing & retail stories in 60-word value bombs.

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OUTLOOK

🛍️ Record-breaking $1.3 trillion online retail sales in 2023

In 2023, U.S. online consumer spending reached $1.3 trillion, a substantial rise from $235 billion in 2013, according to comScore. The report highlights record sales in desktop and mobile, with desktop sales surpassing mobile growth. Top categories include groceries and electronics, with online grocery spending notably increasing post-COVID-19. Social engagement around saving-related keywords also surged, reflecting evolving consumer behavior.

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PERFORMANCE MARKETING

🚀 X Introduces AI-Powered Ad Set-Up for Streamlined Targeting

X introduced a simplified ad setup process leveraging AI targeting tools, promising quicker campaign launches where users can select conversion events, and set daily budgets, and demographic targets, allowing AI to optimize results. Beta testing shows increased click-through and conversion rates. X also introduced cost estimation for ad campaigns which will provide a projected range of what your CPM (cost per 1k impressions) may be for Sales campaigns. 

SOCIAL MEDIA

📺 Twitch rolls out TikTok-style feed to all users this month

Twitch unveils its TikTok-inspired discovery feed after extensive testing, set for full rollout this month featuring separate tabs for clips and live streams, available on the mobile app. Users can explore live content from followed creators and recommended streams. Theater mode enables interaction with live streams. on the other hand, Twitch will display when a creator is live, allowing you to tune in if you want to see more. 

ECOMMERCE

🛍️ TikTok Shop Outperforms Temu and Shein in Customer Retention

Earnest Analytics data reveals TikTok's eCommerce Shop excels in customer retention compared to Shein and Temu. 27% of TikTok shoppers return for another purchase within five months, surpassing Etsy and Instagram Checkout. Amazon tops TikTok with a 36% return rate. TikTok's rapid success is attributed to its engaging content, with 81% of February sales from repeat customers. 

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