Ecommerce Predictions for 2024 With Russ Dieringer - Episode 317
INTERVIEW WITH RUSS DIERINGER
DESCRIPTION
Once again, Kiri speaks with Russ Dieringer, founder of Stratably, a company dedicated to elevating the digital IQ of leading consumer brands. Just like last year, Kiri and Russ share their predictions in ecommerce, for 2024.
Make sure you tune in to find out more!
Russ Dieringer is the founder of Stratably, a company dedicated to elevating the digital IQ of leading consumer brands. Each week, Russ creates impactful, practical, and easy-to-digest research that speaks to all layers of an organization, helping them see further around the corner of what’s coming in retail.
“Amazon’s grown double digits year to date, despite this enormous discretionary exposure. So we attribute that to Amazon gaining significant share in those categories over the last twelve months. And that is primarily driven by the inherent advantage they have with their marketplace. So as consumers are looking for value and looking for good deals and looking for branded alternatives because they can’t afford the brand in this type of inflationary environment, they’re going to Amazon. And somehow Amazon has been able to drive double digit growth in this really difficult environment.”
KEY TAKEAWAYS
In this episode, Kiri and Russ go back to their predictions for 2023, and recap what predictions came true. The results are mixed, listen to hear what they were right about.
They also share their predictions for 2024:
It's predicted that brands will continue to maintain their spending on retail media.
Both Amazon and Walmart Connect are expected to experience increased spending from brands.
Marketplace and retail media will attract a new generation of talent native to the industry.
Russ predicted Amazon's rapid growth in general merchandise categories and foresees its continued double-digit growth rate in 2024.
Brands are expected to demand proof of incrementality for their retail media ad spend and marketplace investments.
Walmart will likely respond to Amazon’s AMC success with their own significant data clean room announcement and partnership.
Russ controversially predicts Amazon's complete closure of Fresh physical stores, with a shift in focus to existing online fresh business.
Amazon will make Prime Video ad-supported for all Prime users, offering brands a significant advertising opportunity.
Amazon is expected to lead in streaming TV advertising with larger reach and superior measurement capabilities.
Walmart and TikTok will potentially enter a significant advertising and commerce partnership.
MENTIONED IN THIS EPISODE
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