Retail media will make up one-fifth of worldwide digital ad spend this year

Key stat: Worldwide retail media spend will hit $140 billion this year, according to our December 2023 forecast.

Beyond the chart:

• With a growth of 21.8%, retail media is growing faster than almost any other form of ad spend.
• Amazon will account for 74.2% of retail media ad spend in the US, per our October 2023 forecast, but about 42% of retail media ad spend worldwide.
• Companies like Mercado Libre in Latin America and Alibaba, JC.com, and Meituan in China will account for a lot of retail media business internationally.

Use this chart:

• Demonstrate the growth of retail media advertising.
• Assess retail media’s role in digital advertising.

More like this:

• 5 recent charts forecasting how ad spend is changing, from retail media to programmatic
• A guide to in-store tech and how it can fuel omnichannel retail media strategies
• Recent retail media roundup: The latest from Albertsons, Microsoft, and Instacart
• Retail media grows its share of total US ad spend, but isn’t overtaking social just yet

Note: All numbers are eMarketer estimates. Examples of in-store retail media include interactive retail displays at the front of the store, checkout, end caps, cooler aisles, and smart carts; at gas stations (e.g., GSTV video ads); at Volta and other electric vehicle charging stations; and at the Redbox kiosks.

Methodology: Estimates are based on the analysis of various elements related to the ad spending market, including macro-level economic conditions, historical trends of the advertising market, historical trends of each medium in relation to other media, reported revenues from major ad publishers, estimates from other research firms, data from benchmark sources, consumer media consumption trends, consumer device usage trends, and eMarketer interviews with executives at ad agencies, brands, media publishers, and other industry leaders