PPPPeinture de la Plage (Four Ps #239)
Greetings from Cannes, where we're talking retail media, creators, GenZ & TikTok
Here we are again. Another edition of the Four Ps sent from Le Croisette in Cannes, France.
That's not a brag.
The fact that the previous two versions sent from here the past two years were the most well-read dispatches in Four Ps history.
That's a brag.
THE PERSONAL: Beach Reads
I'm back in one of my favorite spots this week, and while I've only been here for 36 hours, the first day of the Cannes Lions International Festival of Creativity was a full day of content, connection, and community-building.
So let's paint the picture: Early morning, eerily quiet, sitting here watching the sunrise to my left, the Mediterranean Sea gently coming up to meet the sand just a few feet from where I sit.
I've already missed Father's Day, my daughter's Flag Football playoffs (Commanders '24 were a powerhouse! I’m sorry I missed our final game), and the last week of school, but fortunately, no graduations, birthdays, or sleepaway camp departures this week (unlike last year... and next year).
It's been exhilarating and exhausting, but at least I gave myself the extra day, leaving Saturday night and arriving Sunday instead of Monday. What a difference. I went grocery shopping, unpacked, even did some ironing before hitting the town.
(Have I mentioned my talents with the iron? It's usually one of the first things I do upon arriving on a business trip—though the humidity of a seaside stay should provide some natural de-wrinkling).
Monday was an incredible day of planned and unplanned meetings, practicing the new “pitch,” and connecting with dozens of professional colleagues and friends, old and new.
And now I've woken up early, writing outdoors, with an hour or two to spare before I have to head up to a villa in the hills.
This means this will be a shorter post than usual (you're welcome), and likely hastily edited with typos (proof I wrote it, not a generative AI tool).
Or maybe it will be longer. Who knows yet?
THE PROFESSIONAL: The Rise of Retail Media
With what feels like the entire marketing, media, creative, and adtech communities all together for one of the few times all year, the early content and takeaways after Day One here in Cannes are primarily focused on Retail Media, at least for me.
As mentioned in the last Four Ps, this is a newer space for me, but I've got some incredible contacts in the industry who have taken me under their wing. Plenty of experts here are ready to share their wisdom.
Albertsons Media Collective and CVS Media Exchange are here in full force. Both are newer on the Croisette, but both teams talked on panels and in person about the need for new content and community experiences that help drive greater awareness, engagement and conversion with consumers for their customer brands.
Who else is here: T-Mobile, Roundel, Kroger, Walmart Connect, Uber, and many more…
PayPal: The move to launch its own advertising services platform is a significant development that could shake up the retail media and marketing industry. They’ve also hired Uber’s top retail media lead in the process. This could be big:
By leveraging the vast trove of transaction data from its 427 million customers, PayPal can provide retailers with highly targeted advertising opportunities based on actual purchasing behaviors and trends.
It could be a game-changer for retailers looking to optimize their marketing spend and reach the right customers with the right offers. Traditional advertising channels often rely on broad demographic data or browsing behaviors, which can result in inefficient ad spend and low conversion rates.
With PayPal's new platform, retailers can tap into a treasure trove of real-world purchasing data, allowing them to craft highly personalized and compelling ad campaigns that are more likely to resonate with consumers.
JPMorgan has followed suit, looking to lure advertising dollars away from "traditional" media networks and towards these data-rich platforms.
United Airlines is hitting the circuit this week to promote its new owned-and-operated advertising solution, while passengers are quick to point out they should focus more on improving their in-flight services first.
The common big theme and narrative that has emerged from nearly every panel I've attended and conversation to which I've been a party:
The ROI of pure social advertising for brands is on the decline, yet acquisition costs are rising.
That's why I'm here in Cannes.
Retailers and marketers need to know what's happening, what's possible, and what's next... and adapt their strategies accordingly to remain competitive in this space.
With Genuin's ability to seamlessly transform retail media networks into Community Media Networks, I'm still doing my best to listen, learn, and catch up on this industry trend that is more practical and applicable than even AI (at least at the moment). It’s full funnel. Communities that actually drive commerce.
(Un)related:
So far, there has not been a single session on Web3, blockchain, the metaverse, or even Roblox activations that I've seen on any of the panel lists or invitations. It's almost like the senior marketing community has moved on or isn't ready for these emerging (or submerging) topics towards which large subsets of their audience continue to gravitate. Web3 isn’t dead yet, but with the key leaders in the space, it’s nowhere to be found...
THE PRACTICAL: Marketing to Generational Audiences
I love to travel, but I hate traveling.
I spent most of my Father's Day traveling. I left late the night before to get to France and was by myself for the entire day. While some dads might joke that this is the best gift they could get, I am looking forward to a time when my kids are old enough to travel with me on these types of professional excursions.
Every generation seems to have a different perspective on experiencing new places and cultures. I actually saw more solo teenagers and people in their early twenties on my flights, in the airports, and buzzing about. Yes, summer just began and colleges are out, but it goes beyond that.
A new report from PMG surveyed 1,800 internet users 18 years and older on travel habits and plans for the future. The report comes at a time when most of society has returned to normal travel and activities from the COVID-19 pandemic, but some consumers are looking to make up for lost time.
Those in the travel, entertainment, or tourism industries, take note:
65% of Gen Z and 72% of Millennials expected to spend more on leisure travel in 2024 compared to 2023
42% of travelers are choosing to embrace spontaneity in planning
44% of consumers only begin planning their travel 1-3 months prior, with the second most common being 24% of consumers who prep 4-6 months prior
43% of travelers say they plan to travel to Western Europe this year followed by 39% of travelers planning to visit North America
58% of Gen Z consumers report they use loyalty programs when booking activities or accommodations
Yet, they're also staying at home more, like permanently.
Gen Z is increasingly living at home due to financial pressures, delayed adulthood milestones, and economic challenges. Over half of young adults aged 18 to 24 live with their parents, a significant rise from past generations.
This is driven by rising inflation, student debt, and high housing costs, and is likely also influenced by the delayed achievement of traditional adulthood milestones, such as starting a family and establishing stable careers. And possibly all of these Zyn nicotine patches.
As economic challenges persist, this trend is likely to continue shaping the living arrangements of young adults.
How do they search? How should brands and industries be marketing to them?
Well, no surprise... or maybe it is, but the younger generation is using TikTok, YouTube, and AI to search.
Not all the time, but frequently enough that it’s worth noting. Less than half of those aged 18–24 begin search journeys on Google.
Meanwhile, 21% start on TikTok, and 5% start on YouTube.
Why? It might be because younger people get more genuine answers on social media compared to the sponsored results on search engines.
Google may be the reigning champion for now, but keep your eye on Gen Z’s behavior.
As for how they shop, here’s what AmEx is telling us: 81% of Millennials and Gen Z individuals have summer travel plans, with young women notably driving economic growth.
Specifically, 51% of Millennial and Gen Z women are planning to attend music festivals and concerts this summer, and many intend to travel abroad for these events. Notably, many are planning to attend international concerts and events.
Say hi to Taylor Swift for me.
THE PODCAST: Talking with Walmart Connect's Doug Jossem
In totally awesome and exciting news, the Snarketing Podcast now has a presenting sponsor.
Meet Leadfeeder, a powerful tool designed to identify and track companies visiting your website, providing real-time insights into visitor behavior. It integrates seamlessly with your CRM, enabling efficient and targeted lead engagement.
With features like customizable notifications, lead scoring, and GDPR compliance, Leadfeeder helps prioritize sales efforts and close deals faster, making it an essential asset for supercharging your lead generation and sales. And they're offering extended free trials to the platform to all Snarketing listeners (and Four Ps readers).
The first sponsored episode features our conversation with Doug Jossem, the Head of Food at Walmart Connect, in the lead-up to Cannes.
Hear what he had to say as we "rolled back" the curtain on retail media! 🛒
This episode covered:
Retail Media Revolution: Walmart's vision for future growth.
Doug’s Walmart Walkabouts: Why Doug strolls Walmart aisles weekly.
Customer Connection: Innovative in-store and digital strategies.
AI Insights: The real potential of AI in retail.
Shrinkage: Has Doug ever stolen anything from a Walmart?
Shelf-help: Strategies for marketers and media executives.
Data Meets Creativity: Walmart’s balanced marketing approach.
THE POLITICAL: Rhythm Methodology
Of course, the social media platforms are here in Cannes, and they're hard to miss.
Meta, Snap, TikTok, Pinterest, and the like are all fighting for our attention. More importantly, they're vying for Gen Z's attention as well.
But not without a different kind of fight. The State of New York, according to the Wall Street Journal, is planning legislation that, instead of targeting social media content, would target the method of delivery: Algorithms.
The legislation will prohibit social media companies from serving automated feeds and sending overnight notifications to minors without parental consent. Governor Kathy Hochul believes the measure would make social media less addictive, telling NPR, “I … cannot ignore the signs of distress and trauma among our young people. And it’s definitely correlated to what is happening with these social media feeds.”
Psychologists have said that algorithms are one of the more dangerous sides of social media, as they trap users in “endless scrolling loops.”
Ultimately, you know how I feel. Basic limitations are not going far enough.
Internet addiction momore broadly is changing brain chemistry, which could lead to more addictive behaviors, according to a new study published in PLOS Mental Health. Almost half of British teenagers say they are addicted to social media, according to a survey this year.
Jonathan Haidt would agree... but where does this fit in with politics?
As it turns out, social media and politics are breaking young voters' brains.
TikTok has become the black hole of modern attention spans, and it's wreaking havoc on the tender minds of Gen Z voters.
According to Christian Paz at Vox, TikTok has become a political playground for Zoomers, who spend hours upon hours watching short, often whimsical videos that blend political expression with entertainment.
But here's the kicker – while Gen Z is reshaping politics with their TikTok activism, the app itself is busy reshaping them. Imagine getting your daily dose of political discourse from bite-sized, algorithm-driven videos – it's like taking political advice from a hyperactive squirrel.
The numbers don't lie. TikTok boasts 150 million monthly users in the US, with a significant chunk of them being young people glued to their screens for hours each day. This has got the experts and politicians in a tizzy, wondering if this endless scroll is frying young brains or simply engaging them in new ways.
The app's proponents claim it's a hub for informed debate and community building, while critics, including former Rep. Mike Gallagher, fret over its potential as a tool for disinformation and propaganda.
Is TikTok turning Gen Z into informed citizens or just further polarizing an already divided populace? The jury's still out, but one thing’s for sure – TikTok isn’t just a social media app; it's a cultural shape-shifter.
So is TikTok’s influence a boon or a bane? Researchers have yet to pin down definitive answers, but the fear of echo chambers and misinformation looms large.
TikTok's defense? They’re all about diversity of content and stopping echo chambers before they form.
Yet, with President Biden's push to either sell the app or shut it down by January 2025, the debate rages on. Will TikTok's grand experiment with young minds prove to be a passing fad or a lasting impact on political discourse?
Let's just hope our next generation of voters isn't solely relying on 15-second clips to shape their worldviews.
That's what my newsletter and podcast are for.
The PPPParting Thought
No matter if it's professional or personal, always aspire to be the kinder, more compassionate, more curious, quieter party in any relationship.
Great intro summary of Cannes Matt! Love your choice and breadth of topics…..🙏🙏🙏