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Advertising: Mobile ad spend to slow down in 2023

Guess small screens ain’t immune to economic headwinds, either.

After a couple years of significant growth, advertisers are predicted to spend just $362B on mobile advertising next year – a drop of 7.5% compared to 2022.

Global Mobile Ad Spend

Categories poised for growth in 2023

Not entirely surprising: After averaging 22% year-on-year growth from 2018 to 2021, the spend fell almost 9% in 2022.

Makes sense, given the uncertainty and budget-pinching.

Mobile shopping to the rescue: However, on Black Friday of this year, people shopped on mobile like never before, accounting for more than half of all online purchases in the US.

Shopify, for example, reported that 73% of all global sales came from mobile, offering hope that online store apps and e-commerce platforms could accelerate the gravy train.

Why we care: It’s still early days, but mobile advertising trends often correlate with how overall ad spending will go.

Going by first reports, the start of next year could see a lot of cautious advertisers, which could also open opportunities for bold operators.

Like you, perhaps.

Alex Lim is a certified book reviewer and editor with over 10 years of experience in the publishing industry. He has reviewed hundreds of books for reputable magazines and websites, such as The New York Times, The Guardian, and Goodreads. Alex has a master’s degree in comparative literature from Harvard University and a PhD in literary criticism from Oxford University. He is also the author of several acclaimed books on literary theory and analysis, such as The Art of Reading and How to Write a Book Review. Alex lives in London, England with his wife and two children. You can contact him at [email protected] or follow him on Website | Twitter | Facebook

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