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Ecommerce channels lead in retail media ad spending. In 2024, ecommerce channels will account for nearly 90% of total retail media ad spending in China, or $49.49 billion. The remaining portion will be allocated to off-site channels鈥攖hose that are not ecommerce sites, such as search engine Baidu and short-video apps Douyin and Kuaishou.

Retail media ad spending will be increasingly responsible for digital advertising鈥檚 double-digit growth. By 2028, the powerhouse channel will grow to represent nearly 1 in every 3 ad dollars spent.

On-site display ad spending鈥攚hat we refer to as ecommerce channel display ad spending in our forecasts鈥攚ill climb to $9.98 billion in 2024, then grow at least 24% YoY every year through 2028. But off-site display ad outlays will grow faster. Until now, retail media display ad spending has largely been concentrated on retailer sites.

Temu and Shein both abruptly cut their Google Shopping ad spend in April, per an April 2025 Tinuiti report. Heavy tariffs would drag US Upfront Linear TV ad spending down by 23.5% to $13.4 billion, per our April 2025 forecast. Even with heavy tariffs, US retail media ad spend will grow by 8.5% in 2025, per our April 2025 forecast.

These formats offer interactivity that could work well with ecommerce, especially if combined with Axon鈥檚 consumer insights. These insights also power AppLovin鈥檚 new web ad offering. The ecommerce opportunity could be large. D2C advertisers have been early testers, but retailers are also interested in exploring the RTB app world, and not just for their own ads.

This is the Q1 2025 installment of our quarterly 鈥淎d Spending Benchmarks鈥� series, which helps ad buyers and sellers calibrate their spending and revenue mix against the market.

Brazil鈥檚 digital advertising economy continues to thrive, driven by retail media investment, growing video ad spend, and slower social ad spending. This report explores trends shaping Brazil鈥檚 digital advertising landscape in 2025.鈥�