Aug 1 2024
Charts: Global Entertainment and Media Trends

Global revenue of entertainment and media companies will grow at a 3.9% annual compound rate to reach $3.4 trillion by 2028. That’s according to PwC’s report, “Global Entertainment & Media Outlook 2024-28,” which covers 11 revenue segments across 53 countries and territories.

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Per PwC, revenue from advertising and connectivity (i.e., internet access) is growing faster than consumer spending (purchases of games, events, apps). The study anticipates that advertising revenue will surpass $1 trillion by 2026 and double from 2020 levels by 2028.

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In addition, the study shows growth in online ads, as revenue from internet advertising worldwide in 2028 will almost double that of 2021.

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Driven mainly by Asia-Pacific users, the gaming industry continues to be one of the fastest-growing sectors, with revenue projected to exceed $300 billion by 2028.

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Jul 25 2024
Charts: How CIOs View AI

Roughly one-third of U.S. chief information officers believe technology is the primary force behind their companies’ success and growth, according to EY’s “2024 CIO Sentiment Survey,” conducted in March 2024, which provides insights on how CIOs of leading organizations are addressing challenges in pursuing a growth agenda in the age of generative AI.

The respondents were 500 U.S.-based CIOs from various industries, including consumer products and retail, healthcare, life sciences, advanced manufacturing and mobility, tech media, and telecom.

According to the survey, when CIOs adopt a more ownership role in digital initiatives, they can lead to notable gains.

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In addition, CIOs anticipate that data analytics (43%) and IT and cyber due diligence (41%) will improve the transaction process owing to the use of AI.

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The data also shows that many CIOs still view generative AI as in the pilot or proof-of-concept phases.

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Moreover, revenue generation is the primary motivation for over 37% of CIOs for using generative AI, while 27% point to the technology to reinvent their business model. Roughly 19% claim that cost reduction is the primary AI driver.

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Jul 18 2024
Charts: Outlook of Gen Zs and Millennials 2024

Roughly 30% of Gen Zs and Millennials believe the economic situation in their countries will improve over the next year.

That’s according to Deloitte’s “2024 Gen Z and Millennial Survey” (PDF), published in May. Deloitte surveyed 14,468 Gen Zs (teenagers to late 20s) and 8,373 Millennials (late 20s to mid-40s) across 44 countries to explore their attitudes about work and the world around them.

While the data shows just over 30% believe their overall national economy will improve, many more believe their personal financial situation will get better.

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In addition, per the survey results, Gen Zs and Millennials are willing to take action on environmental issues.

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Moreover, according to the data, frequent generative AI users across both cohorts are likely to think the technology will improve their work/life balance and positively impact their work.

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Jul 11 2024
Charts: Global Ecommerce Stats and Forecasts

There are roughly 26.2 million ecommerce websites worldwide. That’s according to BuiltWith, which tracks 2,500 ecommerce technologies and attributes, such as spend, revenue, employee count, social media count, industry, location, and rank.

Per BuiltWith, the U.S. has 13.3 million ecommerce sites, the most of any nation.

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According to Statista, ecommerce produced approximately 19% of global retail sales in 2023 and will account for about 25% by 2027.

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In addition, Statista estimates Turkey will experience the most retail ecommerce growth worldwide between 2024 and 2029, with a compound annual rate of 11.6%. Also, with growth rates exceeding 11%, India and Brazil rank among the ecommerce markets with the fastest expansion rates in the world.

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Moreover, according to Statista, by  2029 retail ecommerce in the United States will produce $1.88 trillion in revenue, although the projected annual growth will slow from 30.2% in 2020 to 4.7% in 2029.

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Jul 4 2024
Charts: Global Workforce Outlook Q2 2024

Over a third of workers globally have seen a significant role change in the past year. That’s according to PwC’s fifth annual “Global Workforce Hopes and Fears Survey,” released last week.

In March 2024, PwC surveyed 56,600 individuals across 50 countries and territories who are employed or actively seeking work.

Forty-five percent of respondents stated they had to learn new tools and technology in the previous 12 months to perform their job.

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Per the survey, CEOs value technology benefits more than employees.

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Most survey respondents had used generative AI (such as ChatGPT and DALL-E) at least once in the past year, although very few did so routinely.

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Moreover, nearly all of gen AI’s daily users expect advantages while recognizing possible difficulties.

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Jun 27 2024
Charts: Consumer Loyalty Trends Q1 2024

Consumer loyalty is shifting as shoppers seek better value from brands and retailers. That’s according to a new McKinsey & Company study titled, “State of the Consumer 2024: What’s now and what’s next.”

In January this year, McKinsey surveyed 15,000 consumers in 18 markets comprising 90% of global GDP. Over a third of those consumers had experimented with different brands in the prior three months, and around 40% had switched retailers in pursuit of better prices and discounts.

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In addition, according to the study, in emerging markets such as China, India, and the Middle East, the proportion of consumers planning to boost their spending on wellness products and services is two to three times greater than in advanced markets such as Canada and the United States.

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Moreover, over one-third of consumers in China, Saudia Arabia, India, and the UAE shop directly through social media platforms, much higher than those in Europe and the United States.

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Jun 20 2024
Charts: Top Ecommerce Sites by Traffic, Q2 2024

The definition of an “ecommerce” company varies depending on the source. Should “ecommerce” include only companies that sell their own inventory? Or does it also include platforms and tech providers that serve those sellers?

To Similarweb, “Ecommerce & Shopping” companies include retailers, marketplaces, and tech platforms. Here are Similarweb’s estimates of the most visited sites in that category.

With 2.3 billion visits in May 2024, Amazon.com was by far the most widely visited ecommerce site in the world. eBay was second at roughly 708 million.

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Moreover, Amazon.com’s dominance in the United States remained clear.

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With 132 million visits, Taobao was China’s most popular ecommerce site in May 2024.

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Amazon.co.uk held the top spot in May as the most visited ecommerce site in the United Kingdom, with Ebay.co.uk coming in second.

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Jun 13 2024
Charts: Global M&A Trends Q2 2024

Worldwide mergers and acquisitions are expected to increase through 2024, with CEOs viewing acquisitions and divestitures as crucial for their immediate priorities. That’s according to the quarterly “CEO Outlook Pulse” survey from EY, the accounting and consulting firm.

EY surveyed 1,200 global executives and 300 institutional investors in March and April 2024 about their plans for capital allocation, investment, and business transformation.

According to EY’s data, M&A deals in Q1 2024 totaled $796 billion, a 36% increase from the same period in 2023. The purpose of most deals was to acquire technology, enhance production, or integrate startups.

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Per the EY survey, divestitures, spinoffs, and IPOs will be the top M&A initiatives this year.

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In addition, the primary M&A goals of CEOs are to acquire technology or product capabilities and benefit from innovative startups.

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Accounting and consulting firm KPMG surveyed (PDF) managers of U.S. private equity firms in early 2024. According to the survey, healthcare, infrastructure, and life sciences deals will be their top targets this year

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May 31 2024
Charts: Global Consumer Trends Q1 2024

Nearly half of global consumers (46%) have increased their consumption of climate-sustainable products, while an overwhelming number (85%) have experienced the disruptive effects of climate change. That’s according to PwC’s annual “Voice of the Consumer Survey,” titled this year “Shrinking the consumer trust deficit.”

In January and February 2024, PwC surveyed 20,662 consumers across 31 countries and territories. The respondents were at least 18 years old and were asked about a range of topics relating to shopping behaviors, emerging technology, and social media.

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Per the survey, worldwide shoppers have trust concerns with the social media industry, questioning its safety and reliability.

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In addition, 83% of respondents state that safeguarding their personal data is critical to a company’s ability to earn their trust.

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Moreover, consumers seek personal connections when discovering new brands and products. According to the survey, 55% of respondents prefer visiting physical stores and interacting with salespeople, compared to 49% who rely on recommendations from family and friends and 46% who opt for online browsing.

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May 23 2024
Charts: U.S. Retail Ecommerce Sales Q1 2024

Every calendar quarter the U.S. Department of Commerce releases total domestic retail sales and ecommerce only. Newly published figures for Q1 2024 (PDF) show total retail sales of $1.820 billion (a slight decrease over Q4 2023) and ecommerce-only retail sales of $289 billion, a growth of 2.1% over the prior quarter.

According to the DoC, ecommerce sales are for “goods and services where the buyer places an order (or the price and terms of the sale are negotiated) over an Internet, mobile device, extranet, electronic data interchange network, electronic mail, or other comparable online system. Payment may or may not be made online.”

Ecommerce accounted for 15.9% of total U.S. retail sales in Q1 2024, up slightly from 15.6% in the prior quarter.

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The DoC reports U.S. ecommerce retail sales in Q1 2024 grew by 8.6% compared to Q1 2023, while total quarterly retail sales experienced a 1.5% annual rise over the same period last year.

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