In 2023, digital retail media advertising spending in Europe stood at 10.5 billion euros. The source projected that the value would double by 2026, reaching an estimated 22 billion.
Retailers are adjusting to consumer trends
Consumers are shopping for products online more frequently than ever, especially since the onset of the pandemic. This rapid boost in e-commerce activity simultaneously pushes brands to advertise their products on e-retail platforms. One of the markets in which this trend is particularly advanced is the United States. In 2021, the U.S. was expected to account for roughly 40 percent of digital retail media advertising spending worldwide, whereas Europe contributed an estimated 10 percent. Companies across both markets are projected to ramp up digital retail media investments in the future, but which platforms do they prefer?
Amazon remains in a league of its own
Amazon remains the number one promotional platform among European and international brands. The U.S.-based retail giant draws millions of users to its platform every day, mainly thanks to its expansive product portfolio and quick delivery formula. In 2021, Amazon’s advertising revenue surpassed 31 billion U.S. dollars worldwide, and in the U.S., the online retail powerhouse single-handedly attracted nearly 80 percent of digital retail media advertising investments that year.
Digital retail media advertising spending in Europe from 2019 to 2026
(in billion euros)
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IAB Europe. (January 31, 2024). Digital retail media advertising spending in Europe from 2019 to 2026 (in billion euros) [Graph]. In Statista. Retrieved October 06, 2024, from https://www.statista.com/statistics/1311889/retail-media-ad-spend-europe/
IAB Europe. "Digital retail media advertising spending in Europe from 2019 to 2026 (in billion euros)." Chart. January 31, 2024. Statista. Accessed October 06, 2024. https://www.statista.com/statistics/1311889/retail-media-ad-spend-europe/
IAB Europe. (2024). Digital retail media advertising spending in Europe from 2019 to 2026 (in billion euros). Statista. Statista Inc.. Accessed: October 06, 2024. https://www.statista.com/statistics/1311889/retail-media-ad-spend-europe/
IAB Europe. "Digital Retail Media Advertising Spending in Europe from 2019 to 2026 (in Billion Euros)." Statista, Statista Inc., 31 Jan 2024, https://www.statista.com/statistics/1311889/retail-media-ad-spend-europe/
IAB Europe, Digital retail media advertising spending in Europe from 2019 to 2026 (in billion euros) Statista, https://www.statista.com/statistics/1311889/retail-media-ad-spend-europe/ (last visited October 06, 2024)
Digital retail media advertising spending in Europe from 2019 to 2026 (in billion euros) [Graph], IAB Europe, January 31, 2024. [Online]. Available: https://www.statista.com/statistics/1311889/retail-media-ad-spend-europe/