Are consumers spending less money online?
Because looking at Amazon’s Q1 report, there’s definitely a downtrend.
What’s going on: The online giant recorded its slowest growth in two decades, with advertising revenue missing expectations by almost half a billion dollars.
Amazon is the latest tech giant to see a decline in ad revenue, just days after Meta and Twitter announced similar declines.
Unplugging: The biggest reason might simply be the return to life “offline.” Physical store sales rose 17% since last quarter.
Moreover, the rise of Airbnb downloads indicates that people are eager to travel and enjoy more in-person experiences.Why we care: If your e-commerce sales are slowing down, it’s not just you. It’s happening almost everywhere. But knowing these trends will help you adjust your marketing strategy and put your ad dollars where they’ll get the biggest returns.Now’s a good time to find ways to improve customer experience, or maybe try channels that are working for marketers.
Speaking of what’s working
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