Article

2024 Media Trends for Consumer Electronics Brands

Topic: Industry Insights

Read Time: 4 minutes

The digital media space opens new doors for tech brands each year—and retail media can help you step through them faster. At Best Buy Ads, we drive growth for our brand partners by keeping them up to date with the latest industry trends and opportunities.

Looking to freshen up your media strategy? Discover three trends, curated by our in-house experts, that your consumer electronics (CE) brand can use to show up strong in 2024.

Upper-Funnel + Retail Media

Once viewed as an exclusively lower-funnel solution, retail media is making waves as an awareness and consideration driver.

According to eMarketer, ad spend in the U.S. for offsite retail media will reach $10.64 billion this year. In 2028, the number is expected to climb to $28.05 billion, making up over a fifth (21.8%) of total retail media network ad spend.1

Offsite advertising is a key offering here at Best Buy Ads, with solutions that are driving results. During the FY24 holiday season, ROI increased for our CE partners across all upper-funnel channels.2

“Media consumption is shifting to these areas for consumers across the board, and we have the right offerings that appeal to vendor partners,” said Kate Schmidt, Sr. Director of Media Strategy at Best Buy.

“We’re well-positioned in the upper-funnel space, already having strong offerings like CTV and digital video.”
Kate Schmidt
Sr. Director, Media Strategy
Best Buy

YouTube Shorts

For years, YouTube has been the go-to place for long-form video content about CE topics, from reviews to enthusiastdemos and more. YouTube Shorts is now a leading space in the short-form video trend — one that the Best Buy Ads team sees as a major opportunity.

According to Google, Shorts has built an audience of 2 billion monthly users who generate 70 billion daily views,3bolstering the case for YouTube as a driver of awareness in addition to its long-standing role as a destination for middle- and bottom-of-funnel customer interactions.

“In the last 12 months, our team has seen an increase in the number of Shorts strategy and partnership opportunities. We’re looking to continue leaning into this emerging content type for our Influencers.”
Allison O’Keefe
Sr. Marketing Manager, Influencer and Creator Marketing
Best Buy

Shoppable Media

Shopping functionality on Instagram and other social platforms is projected to soar in the coming years. High-growth models from Deloitte predict nearly $200 billion of in-app payments by 2028, up from $24.2 billion in 2024.4

These emerging shoppable media units give our brand partners the ability to drive full-funnel media strategies across paid social, digital video, and CTV. Amplifying organic Influencer content to known audiences and shopping intenders, for example, has proven to be one of our most promising shoppable strategies.

“We have seen strong results from pairing engaging and informative videos with new shoppable commerce media units,” Allison O’Keefe shared. “Shoppable media units give our brand partners unique access to drive further commerce on Influencer social videos.”

Put new tactics to work for your brand

Our team has helped top tech brands find success with emerging media placements. Reach out to a Best Buy Ads team member today to discover the best way to reach CE audiences in 2024 and beyond.

Contact a Best Buy Ads Partner & Category Marketer

    1. eMarketer, “Retail media moves off-site, up-the-funnel—but are retail media networks ready?”
    2. Best Buy Internal Data, 2024
    3. Google, “How brands can get the most out of YouTube Shorts ads”
    4. Deloitte, “In-app payments should take social commerce to the next level”