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In 2024, retail media ad spend will grow 28.6%, coming to just under $60 billion, per our forecast. To reach that potential, retail media networks (RMNs) need to identify what attracts advertisers and set them up for success. Here鈥檚 how three consumer packaged goods (CPG) leaders are thinking about retail media.

Retail media will be a $45 billion market this year and will continue to grow by about $10 billion in 2024, according to our forecast. Currently, the majority of retail media ad spend is driven by search. But the next phase will be driven by upper-funnel formats and in-store ad opportunities.

The vast majority (81.5%) of retail media ad spend will go toward on-site formats this year, per our October 2023 forecast. As advertisers seek to target consumers whenever and wherever possible, other formats are emerging, particularly in-store, streaming, and social.

鈥淲e鈥檙e showing 20.5% growth for retail media ad spending this year, and 22.9% actually accelerating into next year,鈥� said senior forecaster Ethan Cramer-Flood at our recent 鈥淎ttention! Seizing the Retail Media Opportunity鈥� summit. That stat assumes inflation will cool some in the second half of this year, which our forecasters currently predict it will.

On today's special episode, we continue our monthly show where we discuss the biggest trends of the moment and the newest research, sprinkle in some analysis, and bundle it up into a quiz. Every month, three of our analysts representing their respective coverage area teams compete against each other. (We also encourage you to play along at home.) We鈥檒l keep a running score all year and crown a winning team at the end of the year. Today, we cover Americans' sentiment toward AI, how much Netflix's password-sharing initiative will boost subscriber numbers, how retail media ad spending dollars are moving around, and more. Tune in to the discussion with this month's contestants: our analysts Sky Canaves and Evelyn Mitchell-Wolf and vice president of Briefings Stephanie Taglianetti.

Sam鈥檚 Club rolls out closed-loop attribution: Connecting the dots between ads and cross-channel sales should help advertisers be far more efficient with their retail media ad spending.

Non-endemic advertisers will play a key role in funding travel media ad spending. While retail media ad spending is largely driven by endemic advertisers (advertisers promoting brands and products sold directly by that retailer), travel media will be driven by ad spend from non-endemic advertisers.

Amazon鈥檚 new Retail Ad Service, announced last week, is certainly the biggest retail media news of the year so far. In offering its ad-tech to power other retailers' media networks (RMNs), Amazon could disrupt how retail media operates for retailers, advertisers, vendors, and consumers alike.

Digital ad spending growth in Canada is being driven in large part by a host of industries. Our rankings show that retail and consumer packaged goods continue to have the most ad spending share.

Retail Media. We expect retail media ad spend to range from $56 billion to $61 billion in 2025, with a moderate tariffs scenario of $58 billion. The heavy tariffs scenario is an 8.1% reduction versus the limited tariffs scenario (the limited scenario corresponds to our existing forecast).

Retail media is taking Latin America鈥檚 digital ad industry by storm, with advertisers spending nearly $2 billion this year, per our inaugural forecast. Here are the latest trends you need to know.

Halfway through the current decade, retail media has bled into the wider concept of commerce media, which will be a $68.69 billion industry in the US this year, per our December 2024 forecast.

Mercado Libre is beating Amazon at its own game in Latin America: The former is expected to represent more than half of all retail media ad spending in the region, while the latter continues to lose share to local players in Brazil and Mexico.

Retail media. Over 9 in 10 US marketers who invest in creator marketing planned to promote their partnerships via retail media networks in 2025, per Q3 2024 data from LTK and Northwestern University. That trend will help drive retail media ad spending, which will rise by 20.2% YoY in 2025. Brand deals are no longer bound to social platforms.

Amazon and Walmart combined will gobble up more than 84% of all retail media ad spending in 2025, representing a pervasive and unyielding dominance within the channel. The share of ad spending allocated to all other RMNs increased by less than 1 percentage point between 2019 and 2024.

Growth won鈥檛 be as strong in China, but retail media will account for a massive 39.3% of digital ad spending鈥攗ltimately pushing retail media鈥檚 global share figure past 20% this year. The US and China will each account for roughly 40% of worldwide retail media ad spending in 2024. Click here to view our full forecasts for retail media ad spending worldwide and retail media ad spending by country.

The event generates substantial advertising dollars as well: Retail media ad spending is expected to exceed $54 billion in 2024, with Amazon representing more than three-quarters of the market.