Stay on top of today’s constantly changing media environment with DirectAvenue’s insights. We give you specific retail network updates and emerging media trends in a digestible format.

February 22, 2023

Retail media stands as one of the most substantial and rapidly expanding advertising sectors in the United States. From 2016 to 2021, spending on retail media advertising surged from $1 billion to $30 billion. Spending on advertising through omnichannel retail media in the United States is projected to reach $59.98 billion in 2024, marking a year-on-year growth of 28.6%.

Retail Media

  • Digital channels are expected to contribute $59.61 billion, while in-store advertising is anticipated to account for $370 million.
  • The expansion of retail media is fueled by the rise of retail e-commerce, digital advertising, and an uptick in connected TV (CTV) advertising.


  • Search has the largest share of US retail media ad spend 61.7% in 2024.
  • Retail media will account for most search ad spend growth by 2027.
  • Retail media platforms like Amazon, Walmart, and Instacart have enhanced their search capabilities to secure a larger portion of the market for retail media search.


  • Display will make up 38.3% of US retail media ad spend, but that figure will grow to 40.3% by the end of 2027, according to an October 2023 eMarketer forecast.
  • Expenditure on display advertising is expected to increase further as retail media expands its role up the marketing funnel, evolving into a tool for brand promotion.


  • Connected TV (CTV) is emerging as a significant retail media format particularly with Amazon now delivering advertisements on its Prime Video platform.
  • As CTV ads can incorporate shopping features or prompts for action that enable viewers to make purchases, these ads surpass the brand marketing capabilities of traditional TV advertisements by streamlining the purchasing process.
  • These ads are displayed on Connected TV (CTV) platforms either via proprietary channels, such as Amazon Prime Video, or through collaborations, like the partnership between Walmart and Roku.

CTV Forecast

  • US retail media CTV ad spend will reach $8.64 billion by the end of 2027.
  • Spending on CTV advertisements within retail media is projected to reach $3.64 billion in 2024.
  • Marketers will develop specialized strategies for both retail and streaming media, aiming to capitalize on the utilization of retail datasets within streaming television.

eMarketer, 2024

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