Early data from the 2024 Black Friday shopping event reveals intensifying competition among brands advertising on Amazon, with overall ad spending jumping nearly 30% compared to 2023 as companies vie for consumer attention during the critical holiday shopping period.
"The challenge of ad efficiency is a sign of a maturing ecosystem," notes Pacvue in their analysis. "It's important for brands to set expectations when running campaigns this year vs. five years ago."
One bright spot emerged in Amazon's Sponsored Brands format, which achieved a 6.5% year-over-year increase in click-through rate despite the overall decline in engagement metrics.
Perhaps most notably, investment in Amazon's DSP (Demand-Side Platform) advertising increased 28% compared to Black Friday 2023. This surge in upper-funnel investment suggests a strategic shift among advertisers.
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