Insights into Marketing Careers, Subscription Trends, and Retail Sales: 5 Compelling Statistics for a Productive Week
Get equipped with essential data to kickstart your week on the right note and stay ahead of the game.
Marketing job posts on LinkedIn down by 42% last year
Last year was challenging for those looking for jobs, especially in the field of marketing. On LinkedIn, the number of marketing job postings decreased by 42% compared to the previous year. Specifically for B2B marketing positions, there was a 43% drop in job postings on the platform.
Marketing jobs in the healthcare industry faced the biggest impact, experiencing a 60% decrease in job listings on LinkedIn compared to the previous year. Financial services and tech marketing roles also saw significant declines, with 56% and 52% fewer job postings, respectively.
The way marketers work has been changing as well. In 2021, almost three out of five (58%) marketing jobs posted on LinkedIn were remote, a significant increase from the previous year's 18%. Additionally, over a third (36%) of marketing roles were hybrid in 2023, compared to only 14% in 2021.
Although two-thirds (66%) of marketing leaders say their organisation requires them to be back in the office, just a quarter (25%) say they prefer it.
Source: LinkedIn
Netflix loses market share in first quarter of 2024
In the first quarter of 2024 (January to March), Netflix experienced a slight decrease in its market share within the subscription video-on-demand (SVOD) industry.
During this period, Netflix's market share dropped by one percentage point to 28%. Despite this decline, it still maintains its position as the top player in the UK market, with Amazon's Prime Video closely behind at 27% market share. Following closely behind is Disney+, the third largest SVOD service in the UK, holding 20% market share.
Apple TV+ gained a 1% market share in the first quarter, drawing in subscribers with popular shows like Ted Lasso and The Morning Show. Despite the increase, it still lags behind Netflix by four times with a 7% market share.
Paramount+ also has a 7% market share, similar to Apple TV+. Now TV, on the other hand, saw a decrease in market share, dropping to 6% in the first quarter compared to the previous period.
Source: JustWatch
Bad weather and early Easter drag April retail sales
In April, UK retail sales experienced a 4% decrease compared to the previous year. This decline was attributed to the timing of Easter in March and unfavorable weather conditions. In contrast, retail sales had seen a growth of 5.1% in April 2023, as reported by the British Retail Consortium (BRC) and KPMG.
The average growth for March and April combined was 0.2%, lower than the three-month average of 0.5% and the 12-month average growth of 2.2%.
BRC chief executive Helen Dickinson mentioned that retailers had a rough start to spring due to poor weather and unsatisfactory sales, despite adjustments made for the earlier timing of Easter.
Despite retailers offering heavy discounts, people held off on making their usual spring purchases, as noted by the expert.
Food sales saw a decline compared to the previous year in April. However, there was a 4.4% increase in food sales over the three months leading up to April, which is lower than the 9.8% growth recorded in April 2023. This growth also falls below the 12-month average of 6.7%.
Source: BRC – KPMG
One in 10 consumers buy ‘dupes’ at least once every few months
Over one in 10 (11%) consumers buy “dupes” of branded products at least once every few months, according to research from GWI.
Dupes, also known as duplicates, are items created to imitate pricier branded options. Many people enjoy purchasing dupes for beauty and luxury items.
The main motivation behind buying dupes is the value they offer. Nearly half (49%) of shoppers who opt for these replicas do so because of the lower price, with 11% citing the quality as a factor.
Only 17% of consumers believe that buying dupes is a practical way to achieve a designer look for less. On the other hand, 27% feel that it's better to save up and invest in authentic designer items instead of purchasing replicas.
In recent years, there has been a significant increase in interest in own-label products due to the rising cost of living. For instance, the demand for own brand laundry detergent has gone up by 33% since 2021, followed by a 31% increase in the preference for own brand mouthwash, and a 23% rise in the consumption of own brand snack products.
Source: GWI
Global social media ad spend to approach £200bn in 2024
Social media has cemented its spot as the largest media channel worldwide by advertising investment, according to Warc Media’s ‘Global Advertising Trends’ report.
Social media is projected to reach $247.3 billion (£198.1 billion) in 2024, showing a 14.3% increase from the previous year after surpassing paid search. Meta is expected to outpace linear TV in global ad revenue by 2025.
Meta is anticipated to generate $155.6 billion (£124.64 billion) in ad revenue this year, holding a 63.0% share of the global social spend. Both Facebook and Instagram experienced over 20% growth year-on-year in Q1 of 2024.
Social media ad spend in the UK increased by 15.6% year-on-year in 2023 and is expected to reach £8.8bn in 2025, according to the latest AA/Warc expenditure report. This growth is largely driven by the increased investment in social video formats, which saw a 20% increase compared to the previous year, as reported by IAB UK.
Alongside the growth in ad spend, users have also shown a significant increase in their social media usage. According to GWI data, the time spent on social platforms has surged by 50% since 2014, with the average daily consumption rising from 95 minutes to 152 minutes in 2024.
Source: Warc Media
Editor's P/S:
The decline in marketing job postings on LinkedIn highlights the challenges faced by the industry in 2023. The significant drop in healthcare, financial services, and tech roles indicates the impact of economic uncertainties on these sectors. The shift towards remote and hybrid work arrangements is a notable trend, reflecting the evolving nature of the workforce.
The competition in the subscription video-on-demand market remains intense, with Netflix experiencing a slight market share decline in the first quarter of 2024. While Netflix maintains its position as the market leader, the growth of other platforms like Apple TV+ and Paramount+ suggests that consumers have more choices than ever before. The increasing popularity of dupes, items designed to imitate branded products, reflects the growing consumer demand for affordable alternatives. The value-driven nature of this trend highlights the importance of competitive pricing and quality for brands.
