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.
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
