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Retail media will stay ahead of connected TV (CTV) in US ad spending and close in on traditional TV this year, according to our forecast. Search overall, including paid search on retail media networks, will reach $108.48 billion in 2023.
Beyond the chart: Paid search remains a valuable strategy for marketers amid economic uncertainty due to its lower-funnel, high-ROI status, according to our “US Search Ad Spending 2022” report. Marketers are investing more in retail media specifically, for its proximity to the point of purchase and ability to provide closed-loop attribution, per our “Retail Media Explainer.”
Looking ahead, retail media and search in general are well positioned for success. But traditional TV is in trouble, as marketers divert their dollars to CTV and ad-supported streaming services, per our “TV Ad Spending 2022” report.
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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.