Home Business Retail media will grow by 30% to 60 billion euros by 2024

Retail media will grow by 30% to 60 billion euros by 2024

The US continues its strong commitment to Retail Media

Retail Media will continue to be one of the key players in the Advertising sector in 2024. According to the Advertiser Perceptions report, this is expected Investment in retail media in the US increases by 30% to reach 64,700 million dollars (59,778 million euros) this year. By 2025, they are expected to reach 81,600 million dollars (75,392 million euros), representing 23.5% of all digital advertising in the United States.

In this context, connected television (CTV), alongside retail media, will be another big driver of digital advertising growth this year. Data shows digital ad spending, which has dwarfed traditional media spending, will rise 10% in 2024 after rising 11.7% in 2023 to a record 283,000 million dollars (261,495 million euros). Digital spending, for its part, will see an increase of $10 in 2025.

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«Brands have been investing money in retail media in recent years“, Has underlined Eric Haggstrom, Director of Business Intelligence and Head of Forecasting at Advertiser Perceptionsand emphasized that “This trend will continue and retail media will develop significantly in the coming years“. In his words: “Media and advertising technology companies must build relationships with retail media platforms or risk missing out on one of the few large, fast-growing segments of the digital advertising market“.

According to the Advertising on CTVthe presidential elections and the Olympics will boost growth, registering a 16.2% increase in investments in 2024. However, as the company announced, “This is a conservative estimate as spending increases due to the election and could be more successful due to the amount of Amazon Prime Video ads“.

Investing in RRSS

refer to Investing in social networksAccording to the report, it will see a 14% increase this year and an 11.8% increase by 2025. Most of the increase will come from spending on short videos on TikTok, Instagram Reels and YouTube Shorts. With that in mind, Advertiser Perceptions has detailed that mobile programmatic spending is expected to remain stable or grow in the single digits.

Definitely, “The advertising market will be strong in 2024, largely due to the presidential election and the upcoming Olympics“Haggstrom has assured and reiterated that ““Retail media, social and CTV will be the biggest growth drivers over the next two years,” as he believes “advertisers not only prefer the targeting and creative opportunities that these digital channels offer, but also demonstrate a return on return. “Investment (ROI)“.

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