How retail media markets in China and the US compare

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In 2022, 40.7% of China’s digital ad spending will go toward the ecommerce channel, for ads offered by retailers like Alibaba and This eclipses the share in the US, where 14.5% of digital ad spending will flow to ecommerce channel ads sold by the likes of Amazon, Walmart, and eBay.

Beyond the chart: The absolute dollar figures reveal a more nuanced picture. In China, ecommerce channel ad spending will hit $55.16 billion this year, far higher than the US’ $35.96 billion. But total digital ad spending in China will be lower, at $135.42 billion, relative to the $248.81 billion of the US—which may explain the ecommerce channel’s outsize share in China. To put this into perspective, digital advertisers in China will spend $132.01 per internet user in 2022, less than one-sixth of the $826.84 that US digital advertisers will spend per internet user.