NEW YORK, NY, UNITED STATES, August 8, 2024 /EINPresswire.com/ -- Despite economic pressures affecting consumers’ discretionary spending, new research reveals a significant shift in marketing strategies, with brands planning to allocate 23% of their media budget toward Amazon advertising. This insight is one of many captured in the recently released survey of brands and e-commerce conducted by Feedvisor, the AI-powered marketplace performance platform, which also revealed that 71% of brands perceive Amazon as an invaluable asset, marking a 13% increase from the previous year.

In addition to the rise in Amazon Advertising's perceived value, the latest survey indicates a significant anticipated surge in spending on Walmart.com advertising in the forthcoming year. Sixty percent of surveyed companies reported plans to increase their budget for Walmart.com advertising, with 29% envisioning an increase exceeding 50%.

“Feedvisor is thrilled to see such positive feedback from brands regarding their advertising efforts on the leading marketplace platforms,” said Dani Nadel, President and COO of Feedvisor. “The ongoing shift of focus is the reason we architected our deep AI-powered optimization capabilities for both Amazon and Walmart Ads. This development reflects our commitment to providing comprehensive advertising solutions across the retail media landscape, empowering brands and private label merchants to achieve their strategic brand building and performance media goals.”

The survey also highlighted a strategic shift in brands' advertising priorities. While driving brand awareness was the primary goal for Amazon advertising last year (61%), 2024 has seen brands pivot to prioritize driving sales (62%). This strategic realignment aims to capitalize on Amazon’s unmatched conversion potential and maximize revenue generation. Other highlights include:

- As Amazon and Walmart continue to grow as dominant sales channels, Instagram and TikTok are also experiencing significant increases, with Instagram's share rising from 20% to 30% and TikTok's from 18% to 26%, while brick-and-mortar stores face a decline.
- Brands see the power of advertising across CTV, with 32% planning to spend more this year, compared to 26% last year.
- Cost Per Click is the most important metric, marking a substantial departure from last year’s results where it ranked fourth in importance.

As the retail landscape continues to evolve, it is clear that investing in commerce-driven advertising is becoming essential for businesses aiming to succeed in the digital age. With the majority of brands planning to increase their spending on Amazon and Walmart.com, these platforms have proven to be critical components of modern marketing strategies.

About Feedvisor: Feedvisor is the “AI-first” optimization and intelligence platform for brands and retailers on Amazon, Walmart, and beyond. Combining actionable data insights with best-in-class algorithms, Feedvisor drives growth and maximizes profitability through dynamic pricing, demand forecasting, and media optimization.

Marissa Incitti
Feedvisor
+1 347-803-2758
email us here

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