As retail media grows, more agencies are implementing their own ways to guide clients
The headlong rush into commerce media — predominantly embodied by the surge of retail media networks launched over the last three years — has been well documented by the B2B press, and Digiday is no exception. As more and more retailers open their data troves to find new ways to monetize them, media agencies (notably the holding companies) have scrambled to assemble commerce or retail media units to help clients navigate this path.
Surprisingly, GroupM’s president of business intelligence Kate Scott-Dawkins revised her estimate of retail media spend downward in her December forecast, to $119.4 billion from $125.7 billion in June — mainly due to a significant slowdown in China. The rest of the world is buzzing.
“Although the U.S. and China are still expected to represent 77.6% of global retail media ad revenue in 2024, they will be among the slowest growing,” wrote Scott-Dawkins in her forecast, predicting 38% growth in Brazil, 24.5% in Mexico, and 22% in France. “By 2028, we expect retail media revenue to exceed that of linear TV and CTV combined.”
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Source:: Digiday
