As China鈥檚 retail media advertising market begins to mature, off-site channels鈥攊ncluding WeChat and Douyin, TikTok's sister app in China鈥攚ill increasingly drive growth.
In China, ecommercechannelad spending represents over 38% of total digital ad spending, and ecommerce search spending accounts for 64.0% of total search. Could the US figures reach similar heights?
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.
China鈥檚 example would suggest that retail media has enormous headroom for growth in the US. Companies like Amazon have been growing their ad revenues by leaps and bounds, and yet ecommercechannelad spending will still only represent 14.6% of the US digital ad market this year. In China, the share will be 38.1%.
Our first-ever worldwide forecast for retail media ad spending shows enduring momentum and lots of good news for Amazon and other ecommerce platforms around the world.
What鈥檚 next for retail media? The rapidly expanding ad channel is facing growing pains as the majority of RMNs struggle to keep pace with Amazon and Walmart.