Collin Colburn, IAB vice-president, highlights retail media's transformation from simple digital ad spaces to a complex commerce media ecosystem. Initially confined to retailers like Amazon and Walmart, the industry has burgeoned, with ad revenues projected at $53.7 billion by 2024. Brands now utilize first-party data for targeted ads across multiple channels, including social media and connected devices. This evolution is not limited to retailers; various sectors like travel and finance are also joining in. The advancements in in-store digital media further blur the lines between physical and digital advertising environments.
In 2016, CPG brands questioned how to divide paid search budgets between Google and Amazon, illustrating retail media's emergence as a pivotal advertising channel.
Ad revenues in commerce media surged to $53.7 billion in 2024, highlighting the evolution of brand interactions and budget allocations at the point of purchase.
Retailers like Amazon and Walmart initiated a shift, evolving their platforms into ad spaces while expanding their advertising reach across the open web.
The rise of digital media in stores, such as smart screens and audio ads, transforms physical retail into a programmable, ad-supported environment.
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