December 2023 in Marketing
Bite-size updates on what happened in Marketing this month, to keep you ahead of the curve and inform your campaigns.
European Union Agrees 'Historic' Deal on the Use of AI
The European Union has achieved an agreement to establish the first comprehensive laws governing the use of artificial intelligence (AI). Following 36 hours of negotiations, officials agreed on regulations for AI in systems like ChatGPT and facial recognition. The AI Act proposals will be subjected to a vote by the European Parliament early next year, with any resulting legislation not taking effect until at least 2025. Described as "historic" by EU Commissioner Thierry Breton, the agreement signifies the increasing integration of AI into daily business operations, suggesting it isn't going anywhere anytime soon.
TikTok Releases the 2024 Trends Report for Brands
TikTok recently released its 2024 'What's Next Trends Report,' revealing the important themes that will capture users' attention next year. Through 'trend signals,' TikTok has pinpointed emerging patterns and shifts in user behaviours. This information is crucial for brands to shape their long-term content strategies effectively. It's also a noteworthy step for TikTok, especially since many businesses are still figuring out how to use the platform for marketing and building stronger connections with their customers.
Meta Is Ready to Launch Threads App in the EU
Meta is gearing up to introduce its Threads app in the EU by the end of the year, reaffirming its dedication to expanding its Twitter-look-alike microblogging service. While Threads currently doesn't display ads, brands can still expand their audiences through influencer collaborations. It's important to recognise that ads on Threads are on the horizon and will likely play a substantial role in the app's overall revenue once they are implemented.
Black Friday showed a Year-on-Year Decline in Online Sales
Black Friday didn't perform as well this year compared to last, with a 1.9% drop in online sales during the peak week, according to data from IMRG. Despite this decline, it matched market expectations. Overall, November saw a 0.8% decrease in sales compared to last year, which is considered decent given the current trading conditions. Online audio sales, particularly ear pods, experienced a notable 28% increase, showcasing the success of in-demand products. Clothing started slowly in November but saw positive growth in the final week. Read expert deep dive.
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