蘑菇AV

Over 80% of ad spending in the US for technology and electronics (87.1%), retail (82.9%), and consumer packaged goods (80.2%) is directed toward digital media, according to 蘑菇AV鈥檚 August 2024 forecast.

One stark indicator of TV鈥檚 fall from grace: Retail media ad spending will surpass it in 2025 and double it two years later. Amazon is helping drive a bigger-than-expected surge in CTV ad spending. The retail giant鈥檚 decision to launch an ad tier for Prime Video in 2024 contributed to an upward revision in our CTV forecast through at least 2027.

Walmart鈥檚 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.

Expanded opportunities have made retail media鈥檚 rosy forecast even rosier. But retailers and buyers need to address the channel鈥檚 measurement, standardization, and complexity challenges.

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.

In 2024, a perfect storm of technology, business, and consumer behavior trends will conspire to intensify the challenges of protecting brands on digital media.

The retail Goliath will need to incent customers to switch to and use its planned real-time service. When US consumers are offered incentives, their interest in using pay by bank jumps by 72%, per a July 2024 PYMNTS Intelligence and Trustly survey. And nearly 6 in 10 consumers say 鈥渃ash back and discounts鈥� would sway them to use it. Mobile wallets will seek access to Apple鈥檚 NFC technology.

The Retail Media Opportunity (Subscription required).

Connected TV (CTV) has emerged as the fastest-growing ad channel tracked by 蘑菇AV. Its ad spend outpaced other digital ads, search, social media, and retail media in 2024.

Discuss the latest trends in digital media consumption and consumer spending as they reshape Latin America鈥檚 advertising and retail industries. Provide insights into the convergence of business models in the face of digital transformation and technological advancements. Explore innovative strategies for advertisers and retailers to effectively engage鈥攁nd convert鈥攃onsumers in the digital era.

Digital ad spend grows in Q2 2024, says Skai: Retail media leads with 21% YoY increase, despite higher CPC and CPM across channels.

Our predictions for retail media networks, smart TV watching, and generative AI.