Retail media to account for 11% of European online advertising in 2023

Celeste Huang

An overview of retail media ad spend in Europe in 2023.

Retail media share of spend in Europe will account for one-tenth of European online ad investment this year and is forecast to increase by 1% next year, collecting €11.2bn, according to the latest IAB Europe data and WARC Media data. 

The year-on-year growth for retail media ad spend in Europe soared to 42.6% in 2021. Against the backdrop of post-pandemic macroeconomic uncertainty, its growth is forecast to continue at 22.5% this year and 15.8% next, double the rate of the broader internet market which is expected to grow only 7.2%. 

A comparison to WARC Media data shows that...

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