What CPG marketers are looking at in 2024

E-commerce everywhere, CTV/Streaming and Gen AI are among the most important consumer trends identified in 2024 by CPG marketers, according to a report from Mediaocean.

Key findings 

• More than half of respondents to a survey* cited e-commerce everywhere (57%), CTV/Streaming (56%) and Gen AI (55%) as trends to watch; TikTok/social video (50%) was also significant.   
• Macro ad spend trends reflect CPG industry optimism: 72% of survey participants in this sector are planning to increase digital display/video spending, 67% for social media, and 56% for CTV.
• Data analysis (41%) and market research (29%) led the way for Gen AI use cases, while copywriting and image generation landed just 25% and 12% respectively.
• Almost all CPG marketers (94%) said their media and creative were not fully synchronised. It seems that brands are over-indexing on media at the expense of creative: consumers responding to customised experiences represents the largest growth opportunity for brands, the report suggests.

Why CPG trends matter

With consumers able to purchase products from anywhere at any time, CPG marketers feel the need to prioritise online channels, optimise their digital presence, and leverage data-driven insights to effectively engage with consumers. 

That’s reflected in the fact that 62% see performance-driven paid media as their most critical investment, with just 45% citing brand advertising – almost the inverse of Binet and Field’s 60:40 rule of thumb for brand to performance investment. 

* The 2024 CPG Advertising Outlook Report from the advertising services company is based on responses from a CPG-focused subset of 118 respondents to the larger 2024 Advertising Outlook Report which surveyed 1085 marketing industry professionals globally.

Sourced from Mediaocean