From CNBC: 2024-05-24 07:36:46

Ad dollars are shifting from traditional TV to streaming, with retail and consumer companies like Amazon, Walmart, and Kroger attracting billions in advertising spend. Retail media ad spending is expected to more than double from $114.18 billion in 2023 to $233.89 billion in 2027, according to eMarketer.

Walmart is turning its U.S. store digital screens into advertising opportunities, offering platforms for advertisers to reach consumers ready to spend. Retail media networks provide valuable first-party data that advertisers can leverage to optimize their exposure and connect ads to in-store transactions for customer growth outcomes.

The rise of retail media ads reflects significant shifts in the media landscape as pay-TV customer numbers dwindle and traditional TV viewership declines outside of sports. Advertisers are diversifying spending across TV, social media, e-commerce, and digital platforms. Retail media revenue is projected to reach $42 billion in the U.S. this year.



Read more at CNBC: Advertisers boost retail media spending as TV dwindles