Advertisers boost spending at retailers such as Walmart and Amazon as TV shrinks
Publishing timestamp: 2024-05-24 07:36:46
Summary
Advertisers are shifting their spending towards retail media networks like Amazon and Walmart as traditional TV advertising declines. Global retail media ad spending is expected to more than double in the coming years, with companies like Amazon and Walmart attracting billions in advertising revenue. The shift towards retail media comes as tech privacy regulations shake up digital ad spending, and traditional TV advertising lags behind. Retail media networks offer advertisers the opportunity to reach consumers near points of sale with a variety of advertising platforms, including in-store displays, websites, mobile apps, and social media. Retail media revenue is projected to grow significantly, with companies like Walmart seeing profits from their advertising efforts. The rise of retail media ads is happening alongside major shifts in the media landscape, with streaming ad revenue showing growth while traditional TV advertising declines.
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Keywords: walmart inc, alphabet inc, comcast corp, business, warner bros discovery inc, media, instacart (maplebear inc), walt disney co, amazon.com inc, kroger co, ebay inc, retail industry, advertising, etsy inc, breaking news: business, meta platforms inc, wpp plc, business news, entertainment, paramount global,
Source: https://www.cnbc.com/2024/05/24/advertisers-retail-media-spending.html