The $128 billion retail media industry is the hottest space in advertising right now — and its growth tear is coming at the expense of Google and TV

Sat, 09/02/2023 - 09:30

Grocery store shopping — Woman looking at prices during inflation while doing shopping in supermarket.
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Marketers this year are expected to spend $128 billion on retail media.
Some of this uptick is coming at the expense of traditional channels, Google, and trade budgets.
In the US, Amazon, Walmart, and Instacart are leading the way in retail media.

Marketers this year are expected to spend $128 billion on retail media, or advertising on ecommerce sites, according to a new global forecast from the marketing research firm WARC.

Retail media — which WARC forecasts to be up 10.2% over last year and to grow another 10.5% next year — appears to be coming at the expense of Google search and traditional offline media channels like linear TV, experts said.