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India is also a major battleground for Meta, whose platforms are banned in China, and Google. TikTok is also banned in India, meaning Meta鈥檚 Reels and YouTube shorts can compete for short-form video attention.

However, this is an apples-to-oranges comparison since YouTube is in a category of its own; it competes for ad dollars not only with social networks but also with streamers like Netflix. Retailers Shein and Temu are pushing up Meta鈥檚 ad prices. The pair have been spending hundreds of millions of ad dollars to reach US shoppers, boosting Meta鈥檚 bottom line and increasing rates.

Chinese ecommerce players Temu and Shein disrupted the digital advertising market in 2023 as they competed to attract online shoppers by bidding up keywords鈥攑articularly in apparel and accessories and home goods. But Temu has also been on a global tear, expanding to nearly 80 countries since early 2023. It has diversified ad spending accordingly to acquire customers in new markets.

A temporary 90-day US-China tariff pause offers some relief, yet many advertisers are already pulling back spend or reallocating budgets in anticipation of higher costs and geopolitical uncertainty. (For a more exhaustive analysis of companies from Google to Netflix to Meta and beyond, read our new Digital Advertising Earnings Q1 2025 report.).

Canada leads all countries except China in retail media鈥檚 share of digital. All the countries we forecast have seen tremendous growth in retail media in the past five years. But Canada is No. 2 globally, largely due to Amazon鈥檚 dominance in the market. (China鈥檚 vast lead in this metric is proportional to its position in ecommerce鈥檚 share of total retail.). Read the full report.

Temu could appeal to inflation-weary consumers by introducing the gamified, group-buying grocery shopping concept that made sister app Pinduoduo enormously popular in China. Mounting pressure will squeeze the long tail of retail media networks. Even an influx of new retail media networks (RMNs) will not chip away at the share of ad spending allocated to the top two powerhouses.

Amazon still dominates across the global ecommerce market, seeing an average of 2.5 billion users monthly, outperforming Chinese-based retailers Shein and Temu. Amazon is tied with TikTok as the top media platform for advertising, according to Kantar Media research cited by WARC. Consumers favor Amazon ads for their relevance and usefulness, while concerns about over-targeting are waning.

ChatGPT's shopping tool threatens retail media revenues: Its product search could siphon ad dollars from retailers struggling with tariffs, higher prices, and weak demand.

For context, China (40.1%) and the US (39.7%) will account for the bulk of retail media ad investments, each raking in roughly $55 billion in spending. Mexico is an emerging retail media powerhouse. We expect advertisers to allocate more than $1 billion to retail media in Mexico for the first time in 2025.

Digital ad spend is growing and going increasingly toward programmatic formats. Search ad spend is on the rise as well, as retail media growth remains healthy. And social media is in better shape than previously projected. Here are five recent charts forecasting the future of ad spend.

The Trump administration鈥檚 tariff policy will have a two-fold effect on furniture retailers: Tariffs are expected to raise costs of home construction and renovations鈥攆urther depressing furniture demand鈥攁nd many furniture retailers rely on China and Vietnam for supplies.

Methodology: eMarketer estimates for US dollar ad spending include the impact of the weaker local currency in 2022 for the UK, Eurozone, Argentina, Turkey, and Russia.

ByteDance also mentioned that any agreement is subject to approval under Chinese law. Trump attributed the delay to the ongoing tariff war impacting the US and its trading partners, including China. 鈥淲e hope to continue working in Good Faith with China, who I understand are not very happy about our Reciprocal Tariffs,鈥� Trump posted. The new deadline for a TikTok sale will be mid-June.

Worldwide retail media spend will hit $140 billion this year, according to our December 2023 forecast.

This downturn could adversely affect its earnings projections鈥攁nd trade tensions between the US and China could squeeze Apple鈥檚 profit margins and drive up iPhone costs, possibly deterring prospective buyers. Apple is reportedly exploring shifting its iPhone production from China to India to offset these threats.

This year, North America holds the title for most podcast listeners at 149.4 million, per our August 2023 forecast. By 2027, China will take over with 178.7 million listeners.

Even lacking a big game ad spend, we forecast that the US automotive industry's total media ad spend will grow by 7.8% this year to $31.77 billion. This was originally featured in the 蘑菇AV Daily newsletter. For more marketing insights, statistics, and trends, subscribe here.

The threat of a TikTok ban is enough to make waves: ByteDance, Meta, and Chinese competitor Kuaishou are all taking steps to anticipate a ban.

Marketplaces will continue to expand their share of US retail ecommerce as new players with roots in China vie for prominence.