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.
US CPG Industry Ad Spending 2024 (Subscription required). US Retail Industry Ad Spending 2024 (Subscription required). Note: Historical digital ad spending data up to 2015 is derived from Interactive Advertising Bureau (IAB) and PwC data.