Walmart beat Amazon in worldwide digital ad revenue growth for the second quarter in the past year

Key stat: Walmart’s digital ad revenue grew 26% in Q2 2024, ahead of Amazon’s 20% growth, according to the company’s earnings.

Beyond the chart:

• Walmart’s strong digital ad revenue growth is largely fueled by gains in its US retail media business, Walmart Connect, which saw 30% YoY growth.
• Walmart will claim 6.8% of all US retail media ad spend this year, amounting to $3.72 billion this year, according to our March 2024 forecast.

Use this chart: Digital advertisers can use this chart to inform retail media investments and highlight the boost in ad spend during Q4 2023, likely due to the holidays.

Related EMARKETER reports:

• US Amazon Ecommerce Forecast 2024 (Subscription required)
• Retail Media Search Forecast and Trends 2024 (Subscription required)