New competitors are set to disrupt Meta and Google's dominance, as we discuss in our recent report, Top 8 Trends to Watch for 2023. Meanwhile, TikTok, connected TV (CTV), and retail media networks will give advertisers new opportunities for growth despite economic uncertainty. Below are 5 charts to help kickstart the new year for your business.
The death of the third-party cookie–as well as retailers’ ability to leverage their first-party data on customers–is driving the growth of retail media. Retail media is following in the footsteps of search and social as digital advertising's third big wave, and has already established itself as a force.
According to GroupM, retail media ad spending worldwide will reach $121.88 billion in 2023, up nearly $10 billion from its September forecast of $112.64 billion.