The cost of retail media advertising has risen by 21% over the past year to reach a new high of $1.04 per click, according to data from digital advertising company Skai.
This comes as demand from brands to advertise on e-commerce platforms continues to rise rapidly – retail media adspend grew by 45% in Q3 2021, quicker than the growth in social media (26%) and search (32%) advertising.
All three media have seen costs rise rapidly in Q3 2021. Social CPM has increased by a third (34%) to a new high of $7.70, while the growth in search...