Digital ad spending will continue to accelerate in 2024. Retail will be a main driver due to its large ad outlays and growing contribution on the supply side.
Most industries have responded to improving economic conditions in 2024 by increasing ad spending this year. Retail will have the biggest impact on overall digital ad sales by virtue of its rapid increase in digital ad spending, as well as continued increase in inventory through retail media networks (RMNs).
Key Question: Which industries are propelling digital ad spending growth in the US this year?
Key Stat: Retail will account for over a quarter (28.7%) of all US digital ad spending in 2024. By 2027, it will also account for over a quarter of the sell-side market through its RMNs.
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Table of Contents
Executive Summary
The digital ad market will be buoyed by both retail supply and demand
Digital advertising is experiencing a broad-based rebound
Retail and CPG are buy-side behemoths
Retail’s effect on the sell side will soon rival its buy-side impact
The search/display mix will continue to stay remarkably stable
Retail still lags in video ad spending, despite growth
Retail and CPG will help social media continue its rebound
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