Digital Ad Spending Forecast and Trends Q1 2024

Retail Will Drive Growth on Both Buy and Sell Sides

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

  1. Executive Summary
  2. The digital ad market will be buoyed by both retail supply and demand
  3. Digital advertising is experiencing a broad-based rebound
  4. Retail and CPG are buy-side behemoths
  1. Retail’s effect on the sell side will soon rival its buy-side impact
  2. The search/display mix will continue to stay remarkably stable
  3. Retail still lags in video ad spending, despite growth
  4. Retail and CPG will help social media continue its rebound
  1. Sources
  2. Media Gallery

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Yoram Wurmser


Ross Benes
Senior Analyst
Oscar Orozco
Director, Forecasting
Paul Verna
Principal Analyst

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