As we step into a new year, we hear a lot of chatter and what will work and what will not. There are already a plethora of articles stating familiar trends and topics of the digital universe such as AI, influencer marketing, CGI etc. However, what one needs to focus really on is observing how these trends will truly shape our industry and how marketers and advertisers can translate them into tangible actions rather than just buzzworthy concepts.

This conversation extends beyond panel discussions or year-end articles. Here are some trends and ways we can as an industry take ahead and use smartly during 2024.

While generative AI and tools like ChatGPT have become commonplace in our conversations, they only scratch the surface. The REAL power of AI lies in Diagnostic and predictive AI. This innovation is poised to revolutionize the advertising landscape in a manner similar to what "digital marketing" did a decade ago. Diagnostic and predictive AI will be like the MOTHER of that. We are entering a new decade of digital and futuristic marketing. We are now in a world, where data is collected, analyzed, and used to predict the next steps for your product development and optimize brand overall through creative and media thoughts. What adds an extra layer of intrigue is the dynamic nature of consumer perspectives. So, it’s not just quantitative but to an extent qualitative too. Building up insights and consumer behaviors, that can be built or validated. If you double-click on this and go deeper, all this can be done for a specific generation (GenZ), geography, socio-economic etc.

Shifting our focus from AI to another compelling aspect – the "Content Creator Space,", which is distinct from mere influencer marketing. In today's landscape, everyone is a content creator, whether they have hundreds or millions of followers. Understanding and appreciating the subcultures within this space is crucial. A content creator in Nashik differs significantly from one in Mumbai, despite both speaking Marathi, residing in Maharashtra, and sharing interests in fashion and lifestyle. As the advertising community capitalizes on these nuances in the coming years, it will lead to a deeper understanding of consumer behaviour and focus areas.

We initially embraced the concept of D2C (direct to consumer), witnessing the transition of digital-first brands into the realm of offline retail. I propose relabeling D2C brands as consumer brands, characterized by a digital-led foundation but with a long-term commitment to omnichannel strategies. 

Anticipate a surge in consumer brands originating from India, targeting a global market. While the journey may commence digitally due to lower entry barriers, the enduring focus will be on product quality and availability across diverse channels. The trajectory of consumer brands in 2024 is intriguing, especially in light of the emphasis on profitability over mere growth, given the restrained landscape of startup funding.

Lastly, emerging trends like short videos, omnichannel and vernacular content, which gained traction in 2023, are anticipated to continue their upward trajectory in 2024. The potential for growth and innovation in these areas promises an exciting and dynamic landscape for advertisers and brands alike. It will be exciting to see how 2024 unravels and how these trends will build a base for the next few years across the globe.