As trade marketing budgets become “exhausted,” dominant players like Amazon are tightening their grip on the category.
- While WARC now expects retail media spending to grow at a slightly faster rate this year, with global marketing investments climbing 13.7% year over year to reach $153.3 billion, the space is headed for a cooldown next year.
- A new report from the researcher revealed that retail media networks’ increased sophistication in leveraging shopper data to target offsite campaigns, including in non-retail environments, is helping fuel channel growth in 2024.
- Retail media remains hypercompetitive but Amazon is enshrining a dominant position, with WARC expecting the e-commerce giant to command 37.3% of the market in 2024. However, some of retail media’s meteoric growth could soon taper off as brands max out their budgets.
