[eMarketer] The rise of retail media is one of 2022’s top 5 retail trends

eMarketer recently released the Retail Trends to Watch in 2022 report, outlining the five key trends that will most shape the retail landscape in the year ahead: the bridging of digital and physical retail, same-day delivery, viral commerce, sustainability, and retail media.

Below are some highlights on the rise of retail media.

US digital retail media advertising will reach $41.37 billion in 2022, growing nearly $10 billion from this year. eMarketer expect it to be one of the fastest-growing segments of digital advertising at 31.4%, on par with connected TV (CTV) (32.3%) and podcast advertising (30.2%). By 2023, retail media will surpass $50 billion and represent nearly 1 in 5 digital ad dollars.

Retail media is evolving from performance ads to brand-building ads. The low-hanging fruit of retail media has been bottom-funnel search ads. But various retail media networks are evolving their ad offerings to include more upper-funnel, awareness-driving formats like digital display and video. Several also have their own demand-side platforms (DSPs) or partner with other DSPs to deliver targeted ads beyond their owned and operated sites, including in ad-supported CTV.

Amazon is the dominant player in retail media today. The ecommerce giant currently accounts for 77.7% of US digital retail media spend, but its share will get trimmed beginning next year amid growing competition.

Read the full eMarketer article here

www.emarketer.com