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Measurement and attribution are the most critical advertising capability or media investment for over half (53%) of retail marketers worldwide, according to November 2023 data from Mediaocean.

Now the number one group in all departments working with creator is media, number two is branding. (07:35):. And they're looking at creator across all forms of communication. And we're seeing that with our clients, whether it's in retail media networks, it's UGC, user-generated content living on the site because that's more believable than reviews. It's in CTV and regular television.

Last month, Dollar General launched an in-store audio network, enhancing its in-store and online ad solutions.

Retail spending on ads is coming off an enormous growth spurt. Retailers鈥� total media ad spending will surpass $100 billion in 2024 for the first time, nearly double the $51.66 billion spent in 2019.

As the path to purchase becomes more fragmented, brands must be everywhere the customer is鈥攁nd retail media partnerships are stepping up. 鈥淭here really isn't [one] common flow, and so you really have to make sure you're present in any place the consumer is thinking about your brand's products,鈥� Eric Tarnowski, senior vice president, connected commerce at Kenvue, said during Advertising Week New York. 鈥淓very conversion point is a brand-building opportunity.鈥�

Digital ad spending will continue to accelerate in 2024. Retail will be a main driver due to its large ad outlays and growing contribution on the supply side.

Retailers, streamers embrace shoppable TV ads to shorten the path to purchase: WBD, Amazon, Kroger, and The CW Network are relying on the format to drive product discovery and sales.

55% of US agency and marketing decision-makers expect AI to improve retail media by offering greater insights and recommendations, according to a July 2024 study from Quartile and NewtonX.

Retail media will capitalize on its closed loop. Despite a lack of measurement standards, retailers鈥� purchase data makes CTV more appealing to performance marketers. By 2027, retail media networks (RMNs) will represent over 20% of CTV ad spending, per our forecast. Trust is moving the needle on content-level transparency.

Publicis acquires Mars United Commerce: The deal strengthens holding company鈥檚 ability to offer commerce media solutions.

Agencies begin to doubt retail media鈥檚 efficacy:: Some are counseling caution as lack of standardization and the sheer number of RMNs make it difficult to assess whether brands鈥� investments are paying off.

鈥淥ver the last 12 months, we鈥檝e seen a flurry of [media advertising] activity from outside the retail sector,鈥� our analyst Sarah Marzano said on an episode of the 鈥淏ehind the Numbers: Reimagining 搁别迟补颈濒鈥� podcast. Although retail kicked off the commerce media trends, financial services, travel companies, and intermediaries such as Instacart and Uber Eats are monetizing their customer data and setting up ad networks. The rise of commerce media networks is changing the way advertisers approach targeting and how consumers interact with brands. Here are four predictions on these emerging trends.

Retail media is the fastest-growing ad channel we track in the US, driven by new innovations, inventory growth, and new players launching media networks. Here鈥檚 a look at some of the biggest retail media moves from the first six months of 2024.

Consumer payment method choice will expand in 2025 as real-time 鈥減ay by bank,鈥� iPhone NFC access, and digital credentials take center stage. And financial media networks will turn more payment providers into marketers.

鈥淚n 2022, retail media hit the first of many milestones when it became the fastest US ad channel to eclipse $30 billion in spending鈥攏early twice as quickly as it took social media,鈥� our analyst Max Willens said on a recent Meet the Analyst webinar. 鈥淭hat was just the start.鈥�

Last week, retail marketplaces Thrive Market and Faire joined the growing number of retail media.

Sick of disappointing retail news? So are we. Just like we鈥檙e sick of paying $6 for a carton of eggs. Some good news: US employers added 30,000 retail jobs in January, offering a big boost after a sluggish second half of 2022, when retail jobs fell for three consecutive months from September to November and were stagnant in December. Here are some more positive indicators.

In just five years, retail media went from a $1 billion segment to a $30 billion segment. With US omnichannel retail media ad spend poised to reach $59.98 billion this year, per our October 2023 forecast, non-retail industries from health and fitness to restaurants and financial institutions are looking to build out their own media networks.

Consumers may be concerned about the economy, but the outlook is good for ad spend in the final months of 2024. The share of advertisers concerned about a slowing US economy dropped 11 percentage points (from 49% to 38%) between November 2023 and August 2024, according to the Interactive Advertising Bureau (IAB). Retail media鈥檚 popularity, an influx of value-based messaging, high political ad spend, and connected TV (CTV) monetization will boost the ad industry the rest of 2024.

Ads on Prime Video will boost the power of Amazon in retail media CTV advertising. As more retailers establish competing ad networks, Amazon鈥檚 share of US retail media spending is contracting: from a peak of 77.9% in 2021 to 74.2% in 2024, per our forecast. But the platform will enjoy a far stronger position compared with its rivals in retail media CTV this year.