The digital advertising in Retail Media has become an essential tool for brands amid the rapid rise of e-commerce.
One of the benefits of adding digital platforms is that companies can improve your visibility, increase brand awareness and remain competitive in a constantly growing industry.
In 2021, as the report shows ‘Digital Retail Media Advertising’ made by Statisticalthe advertising investment in Retail Media worldwide stood at $77 billion. By 2024, this sum is expected to nearly double.
USA It is positioned as one of the countries where advertising investment in Retail Media has grown the most. Specifically, the report notes that spending on advertising has doubled in the last two years in the United Statesbreaking a record of 41,000 million dollars.
This rapid increase was driven by the e-commerce growth amid the coronavirus pandemic and consumer adoption of online shopping.
Now, despite the fact that most restrictions have been lifted, consumers continue to turn to the internet to buy products. According to the latest estimates, in the coming years, one out of every five dollars of digital advertising will circulate towards Retail Media.
With an eye on the next five years, the report indicates that advertising investment in Retail Media will exceed 160,000 million dollarswhich represents a 60% growth rate.
Amazon vs. Google
Today, Amazon dominates the landscape of Retail Media in the United States. According to the data, the e-commerce giant attracted almost three times more monthly visits than Google in 2021.
Another striking fact is that most online shoppers chose Amazon over Google to search for products and make purchases.
As for Amazon’s digital advertising revenue, the data shows that it has almost tripled since 2019 and expected to reach $40 billion in 2023. The company, moreover, accounted for almost 80% of total advertising spend in Retail Mediawhile some of its competitors such as Walmart or instacart posted market shares in the single digits.