Europe’s retail media ad market to grow by 36% in 2024

Alex Brownsell

The latest retail media ad spend forecast from IAB Europe.

Retail media advertising spend is set to reach €14.3bn in 2024, up 35.9% from the €10.5bn invested last year, according to the latest figures from IAB Europe.

The US and China are by far the world’s biggest retail media markets, and comprise the lion’s share of the $141.7bn that WARC Media forecasts will be spent globally this year. In contrast, European retailers are hindered by the fragmented nature of the local market.

Previous research by IAB Europe’s chief economist Daniel Knapp has found an average gross online merchandise value of less than 0.9% for Europe’s retailers, versus...

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