[eMarketer] Retail media proves its value amid ad spending slowdown

Retail media was the fastest-growing digital ad channel worldwide in Q3 2022, with retail media spend increasing 45% versus a year ago, according to Skai. It also gave advertisers more bang for their buck with impressions up 61% and costs per click down 12% year over year.

Even in a challenging macroeconomic environment, US marketing dollars are shifting to retail media, in what we call the third wave of digital advertising.

While it will represent only about 16% of the US digital ad market this year, spending on retail media will continue to grow by double-digit percentages through 2024, when it will top $55 billion, per eMarketer forecast.

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