E-commerce continues to transform the major online platforms as well as the overall retail business. As Meeker described the changing landscape, the roles of tech titans Amazon and Google are beginning to converge, combining advertising, search and e-commerce, with social media platforms driving product discovery and purchases.
Amazon’s ad revenue increased 42% last year to $4 billion, and 49% of consumers start their product search on Amazon, according to Meeker. That compares to 36% of consumers begin on a search engine. While Amazon expands its horizons, Google has signed up several major retailers for a new program where their merchandise will be prioritized in Google search results.