Global retail media spending will reach $140 billion this year, according to a December 2023 forecast by Insider Intelligence/eMarketer.
Examples of retail media websites are Amazon, Walmart, and eBay.
Retail media is expanding faster than any other type of ad spend, at 21.8%.
According to Insider Intelligence eMarketer’s October 2023 forecast, Amazon will account for 74.2% of retail media ad expenditure in the United States but approximately 42% worldwide.
Companies like Mercado Libre in Latin America and Alibaba, JC.com, and Meituan in China will account for a significant portion of the retail media business globally.
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Ariel Ben Solomon is the Growth and Strategy manager at Ecomhunt. He is the host of the Ecomhunt Podcast. Can be followed on Twitter at @ArielBenSolomon