US Retail Industry Ad Spending 2024

Advertising’s Heavyweight Takes an Uncharacteristic Step Back

Report by Sky Canaves  | Oct 4, 2024
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Executive Summary
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Table of Contents
Executive Summary
The retail industry will briefly slow ad spending in 2024
Retailers will continue to lag slightly on mobile advertising
Retailers will hold steady in their reliance on search ads
Retailers channel a greater share of display ad dollars to social networks than any other industry
Retailers will boost their spending on video advertising
Categories in focus
Sources
Media Gallery
About This Report
Retail has come off its lengthy run of outperforming overall US ad spending growth. While growth will dip below the average for all industries in 2024, the pace is set to pick up again in 2025 and 2026.
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Total Media Ad Spending
US
Table of Contents
Executive Summary
The retail industry will briefly slow ad spending in 2024
Retailers will continue to lag slightly on mobile advertising
Retailers will hold steady in their reliance on search ads
Retailers channel a greater share of display ad dollars to social networks than any other industry
Retailers will boost their spending on video advertising
Categories in focus
Sources
Media Gallery

Retail has come off its lengthy run of outperforming overall US ad spend growth. While 2024 will go down as a year of moderate retrenchment—with growth dipping below the average for all US industries—the pace is set to pick up again in 2025 and 2026.

Key Question: What is the outlook for US retail industry ad spending through 2026?

Retail's 5-Year Run of Above-Average Digital Ad Spend Growth Will Hit the Brakes in 2024
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Key Stat: Retail digital ad spending will increase 10.6% YoY in 2024, the first time since 2018 that the top-spending industry will fall below the US average growth rate.

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Table of Contents

  1. Executive Summary
  2. The retail industry will briefly slow ad spending in 2024
  3. Retailers will continue to lag slightly on mobile advertising
  1. Retailers will hold steady in their reliance on search ads
  2. Retailers channel a greater share of display ad dollars to social networks than any other industry
  3. Retailers will boost their spending on video advertising
  1. Categories in focus
  2. Sources
  3. Media Gallery

Charts in This Report

Retail's 5-Year Run of Above-Average Digital Ad Spend Growth Will Hit the Brakes in 2024US Digital Ad Spending Growth, by Industry, 2024-2026 (% change)
US Traditional Media Ad Spending, by Industry, 2024 (billions and % change)Retail Commands by Far the Largest Share of US Digital Ad Spending
Retail OverIndexes on Digital Ad Spending vs. Traditional Media US Retail Digital Ad Spending, 2020-2026 (billions, % change, and % of total digital ad spending)
Retailers Will Add Nearly $25 Billion in New Digital Ad Spending in 2025 and 2026US Retail Mobile Ad Spending, 2020-2026 (billions, % change, and % of retail industry digital ad spending)
The Share of Retail Spending on Display and Search Ads Has StabilizedUS Retail Social Network Ad Spending, 2020-2026 (billions, % change, and % of retail industry display ad spending)
US Retail Video Ad Spending, 2020-2026 (billions, % change, and % of retail industry display ad spending)US Retail Digital Ad Spending, by Subcategory, 2024 (billions, % change, and % of total retail digital ad spending)

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authors

Sky Canaves

Contributors

Ross Benes
Senior Analyst
Suzy Davidkhanian
VP, Content
Zach Goldner
Forecasting Analyst
Vladimir de Leon
Chart Editor
Oscar Orozco
Director, Forecasting
Heather Sprung
Senior Editor
Sakina Thanawala
Matt Torpey
Senior Chart Editor
Emman Velasco
Chart Editor
Julia Woolever

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