Commerce & RMN Trends

Here are some major commerce and retail media network (RMN) trends to anticipate in 2024

To cater to changing consumer behavior, commerce brands and retailers will continue investing in and creating omnichannel digital experiences both in-store and online

Stores will become more like their online counterparts, leveraging technology to produce seamless end-to-end customer experiences Retailers and manufacturers will also continually favor a direct-to-consumer model

A sophisticated statistical model that incorporates investment and delivery data to better understand budget and channel priority for investment and planning

Utilizes performance data to demonstrate the combined impact of multiple consumer touchpoints on driving consumer behavior toward business goals

Also referred to as "incremental lift," this demonstrates the impact marketing has toward capturing new customers beyond those the brand was likely to gain without media present

Sustainability isn’t just a fad it will continue to remain a priority for brands and consumers in 2024, impacting all aspects of commerce including brand loyalty Generations with large buying power and influence such as Gen Z will increasingly value brands that demonstrate a commitment to sustainability

Pressure from regulators and boardrooms to focus on environmental, social and governance (ESG) will continue to intensify According to a spring 2023 study by Diligent Institute and Spencer, 47% of respondents anticipate a more concentrated effort or continuation of their current ESG strategy in the future

An embrace of sustainability initiatives will be essential to long-term value creation Regulation to spur stronger action on ESG issues is possible Companies will have to embed ESG goals and ideals into the corporate culture and daily operating behaviors

eMarketer predicts that ecommerce sales will top $1T in 2024 and account for nearly 20% of all retail sales Its ascent will be driven by mobile sales as consumers shift to buying more on mobile than on desktops and laptops

To drive ecommerce success, brands should consider using technology such as AI, video and virtual reality (VR) to deliver more personalized experiences that appeal to consumer preferences

eMarketer also estimates that nearly one third of all U S digital buyers will buy internationally in 2024 Cross-border buying will increase to 71 8 million U S consumers a 19% growth since 2019

This will give B2C companies with a global presence an advantage and could prove to increase the competitor pool for U S brands with national locations only

47% of surveyed respondents expect a more concentrated effort or continuation of their current ESG strategy in the future

Source: Harvard Law School

71.8 Million

U S consumers will buy cross-border in 2024

Source: eMarketer