NEWS7 September 2023

Amazon tops consumers’ preferred advertising platforms

Media News Trends UK

UK – Amazon is ranked as consumers’ number one advertising platform, as marketers increasingly avoid X, formerly known as Twitter, according to data from Kantar.

Piccadilly Circus

Kantar’s Media Reactions 2023 report found that Amazon adverts were considered relevant and useful by consumers with few negative qualities, and were joined in the consumers’ top five by Google, TikTok, Instagram and Spotify.

Among marketers, the top-ranking media brand for advertising was YouTube, increasing trust levels 6% compared with the previous year, and was joined in the top five by Google, Instagram, TikTok and Spotify.

The report also highlighted a collapse in reputation of X, previously known as Twitter, following its takeover last year, with the platform not featuring in the top five preferred advertising platforms.

There were also declines in marketers’ perceptions of innovation on X, down to 16% in 2023 from 28% in 2021, and trustworthiness, at 7% this year from 11% two years ago.

A net 14% of marketers said they would reduce their advertising investment on X in 2024, Kantar said.

The data is based on an annual study, now in its fourth year, featuring interviews with around 16,000 consumers in 23 markets and 900 senior marketers globally.

Sponsored events were consumers’ top-ranking media channel, according to the analysis, followed by cinema adverts, out-of-home advertising, point of sale and digital out-of-home.

In contrast, marketers preferred online video, followed by sponsored events, digital out-of-home, video streaming adverts and online stories adverts.

Television was the 12th most preferred advertising channel, according to Kantar, and television sponsorship slipped from 12th to 20th, with 6% of marketers expecting to increase spending on advertising on the medium in 2024.

The metaverse also slipped in popularity, with only 12% of marketers increasing metaverse budgets in the past year compared to a net 61% of marketers who claimed they would increase spend in the metaverse in 2022.

In the 2023 study, 22% stated they would raise their budget for metaverse advertising next year.

Gonca Bubani, global thought leadership director – media at Kantar, said: “Successful advertising today seamlessly integrates into consumers’ lives: in their scrolling, viewing or simply while they go about their days.

“This year, consumers have spoken up and said they strongly prefer advertising that they see out-of-home, like at sponsored events or the cinema. So why is there such a huge mismatch between the advertising consumers enjoy and what marketers are spending their precious budgets on?

“We know advertising campaigns are seven times as impactful among receptive audiences, so for marketers, it’s crucial to understand the strengths and weaknesses of different ad platforms and invest their money where it will make an impact.”