Three quarters of US advertisers incorporate on-site ads in their retail media strategy

Key stat: 77% of US advertisers incorporate on-site ads as part of their retail media strategy, according to a February 2024 report by Skai and Path to Purchase Institute.

Beyond the chart:

• Retail media is moving beyond on-site. The same study found that around two-thirds of US advertisers are incorporating paid search shopping ads (69%) and social commerce ads (65%) in their retail media strategy.
• Limited on-site ad space is a concern for 30% of US- and European-based brands and advertisers using retail media networks, per an August 2023 study from DoubleVerify.
• Our October 2023 forecast expects US omnichannel retail media ad spending to grow 28.6% YoY in 2024, reaching $59.98 billion.

Use this chart:

• Budget retail media spend across different channels.

More like this:

• The latest data shows organizations are happy with retail media, but there’s room for improvement
• Sizing up the retail media potential of in-store, streaming, and social media audiences
• Retail media will make up one-fifth of worldwide digital ad spend this year
• A guide to in-store tech and how it can fuel omnichannel retail media strategies

Methodology: Data is from the February 2024 Skai and Path to Purchase Institute, "The State of Retail Media 2024." 98 US advertisers were surveyed during December 2023. Of the respondents, 59% worked in agencies and 41% in consumer product manufacturers.