The share of US retail media ad spending is growing

New Ideas in MarketingEssential news for marketers, summarised by YouGov
November 18, 2021, 3:10 AM GMT+0

Insider Intelligence’s inaugural digital retail ad media spending forecast for the US reports a “cresting” of retail media ad budgets.

As per the forecast, US retail media ad spending will surge 53.4% to reach $31.49 billion in 2021. 2020 saw a nearly identical growth rate of 53.3%. While moderate growth rates are expected for the next couple of years, by 2023, retail media ad spending could cross $50 billion.

In 2021, sponsored search will power 65.8% of retail media spend and display advertising will account for 34.2%. The report forecasts Amazon to have the greatest share (77.7%) of the digital retail media ad spend by the end of 2021.   

Further, as part of the overall US digital ad market, US retail media ad spending could account for 14.9% in 2021. By 2023, this could go up to 19.3%.

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