GroupM’s global ad forecast stays optimistic, but gets a bit darker for U.S. growth
As retail media growth continues to spread and grow, not unlike the Canadian wildfires that have blanketed parts of the United States in smoke, GroupM’s latest ad forecast shows that some of that growth is coming out of the granddaddy of commerce media, Amazon.
Kate Scott-Dawkins, who was promoted to global president of business intelligence after Brian Wieser left that job a few months ago, pointed out this shift in the latest Global Mid-Year Forecast report.
While noting that retail media is expected to grow just under 10% globally in 2023 to hit $125.7 billion, Scott-Dawkins predicted that it will account for 15.4% of total revenue by 2028. The segment is dominated by consumer packaged goods advertisers — whose products are sold on the shelves of the retailers — but she noticed a shift in their spend.
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Source:: Digiday
