But that impressions growth (61%) is now outpacing the growth in ad spend (45%). That drove down CPCs by 12% in the most recent quarter. Retail media and social are experiencing similar drops in ad rates. The same directional trends apply across search and social: Spend increased by 12% for both, while impressions for each soared about 30%, causing ad rates to drop into negative territory.
Brick-and-mortar will be retail media鈥檚 next frontier as in-person shopping returns and the pandemic fades. Retailers like Walmex and Cencosud are turning their physical stores into media assets, allowing brands to place ads on digital screens, shopping carts, and even in parking lots.
Use this chart: Digital advertisers can use this chart to inform retail media investments and highlight the boost in ad spend during Q4 2023, likely due to the holidays. Related 蘑菇AV reports:. US Amazon Ecommerce Forecast 2024 (Subscription required). Retail Media Search Forecast and Trends 2024 (Subscription required).
Food and beverage is a much bigger part of ecommerce than it used to be. The food and beverage ecommerce category is set for robust 16.7% sales growth in 2024, and we anticipate growth to remain elevated for the next several years after that. But equally noteworthy is how quickly the category has grown as a share of overall ecommerce in the US.