Global retail media ad spend is forecast to grow 10.1% to $122bn in 2023, having achieved double-digit growth every year since 2014. It is expected to be the fastest-growing channel this year and next, according to the latest analysis by WARC Media, comparing WARC data with new forecasts from GroupM.
From 2019 to 2022 – during which the pandemic propelled the growth of online shopping and e-commerce investment – retail media saw its ad spend more than double. Investment is forecast to surpass audio ($35bn) and OTT/streaming($83bn) combined in 2023, and is...