The Global Retail Media Networks Market size is expected to reach USD62.5 billion by 2031, rising at a market growth of 10.3% CAGR during the forecast period.
In 2023, the Europe region generated 29% revenue share in the retail media networks market. The European market is characterized by diverse consumer preferences and shopping behaviours across various countries, necessitating tailored advertising approaches. Retailers in Europe are increasingly investing in retail media networks to enhance their advertising capabilities, especially as e-commerce grows in popularity.
Retailers are increasingly moving away from traditional advertising methods, such as print and broadcast media, in favour of digital advertising strategies. This shift is primarily driven by the changing preferences of consumers spending more time online. Digital advertising allows for more precise targeting, real-time performance tracking, and interactive engagement, leading to higher conversion rates. In conclusion, retail transformation through digital advertising strategies is driving growth.
Additionally, Consumers today expect shopping experiences to cater to their preferences, needs, and behaviours. This demand for personalization has prompted brands to invest in these networks that allow them to deliver customized advertising and promotional content. By leveraging data analytics and customer insights, retailers can create tailored campaigns that resonate with specific target audiences, enhancing the relevance and effectiveness of their messaging. Thus, growing consumer demand for tailored shopping experiences
As more brands recognize the potential of these networks, the competition for visibility and consumer attention intensifies. An oversaturation of advertising channels can lead to ad fatigue among consumers, making them less responsive to promotional content. In a crowded marketplace, consumers may become overwhelmed by the sheer volume of ads, resulting in decreased engagement and reduced effectiveness of advertising campaigns. In conclusion, high competition and saturation in advertising are impeding the market's growth.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.
Region-wise, this market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region witnessed 38% revenue share in the retail media networks market in 2023. This dominance can be attributed to the region's mature e-commerce landscape and high digital advertising spending. North American retailers have quickly adopted innovative retail media strategies, leveraging their extensive customer data to deliver highly targeted advertisements.
In 2023, the Europe region generated 29% revenue share in the retail media networks market. The European market is characterized by diverse consumer preferences and shopping behaviours across various countries, necessitating tailored advertising approaches. Retailers in Europe are increasingly investing in retail media networks to enhance their advertising capabilities, especially as e-commerce grows in popularity.
Retailers are increasingly moving away from traditional advertising methods, such as print and broadcast media, in favour of digital advertising strategies. This shift is primarily driven by the changing preferences of consumers spending more time online. Digital advertising allows for more precise targeting, real-time performance tracking, and interactive engagement, leading to higher conversion rates. In conclusion, retail transformation through digital advertising strategies is driving growth.
Additionally, Consumers today expect shopping experiences to cater to their preferences, needs, and behaviours. This demand for personalization has prompted brands to invest in these networks that allow them to deliver customized advertising and promotional content. By leveraging data analytics and customer insights, retailers can create tailored campaigns that resonate with specific target audiences, enhancing the relevance and effectiveness of their messaging. Thus, growing consumer demand for tailored shopping experiences
As more brands recognize the potential of these networks, the competition for visibility and consumer attention intensifies. An oversaturation of advertising channels can lead to ad fatigue among consumers, making them less responsive to promotional content. In a crowded marketplace, consumers may become overwhelmed by the sheer volume of ads, resulting in decreased engagement and reduced effectiveness of advertising campaigns. In conclusion, high competition and saturation in advertising are impeding the market's growth.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.
Driving and Restraining Factors
Drivers
- Transformation Of Retail Through Digital Advertising Strategies
- Growing Consumer Demand For Tailored Shopping Experiences
- Expansion Of E-Commerce Platforms Leading To Increased Media Opportunities
Restraints
- High Competition And Saturation In The Advertising Space
- Limited Consumer Engagement With Retail Media Ads
Opportunities
- Integration Of Advanced Technology For Enhanced Advertising Solutions
- Growth Of Influencer And Affiliate Marketing Within Retail Media
Challenges
- Rapidly Evolving Consumer Preferences
- High Costs Associated With Retail Media Advertising Campaigns
Platform Type Outlook
Based on platform, this market is divided into retailer-owned networks and third-party networks. The third-party networks segment attained 34% revenue share in the retail media networks market in 2023. Third-party networks act as intermediaries, enabling advertisers to reach consumers across retailers and platforms. While they offer a broader reach and diversification, they may lack the depth of customer insights that retailer-owned networks provide.Industry Vertical Outlook
By industry vertical, this market is divided into consumer packaged goods (CPG), electronics & technology, apparel & fashion, grocery & food delivery, beauty & personal care, and others. The electronics & technology segment procured 21% revenue share in the retail media networks market in 2023. This segment benefits significantly from the visual nature of retail media, allowing brands to effectively highlight product features, technical specifications, and customer reviews. Consumers in the electronics industry often conduct extensive research before making a purchase, and targeted advertising through retail media can provide them with the necessary information at crucial decision-making moments.
Advertising Format Outlook
On the basis of advertising format, this market is segmented into display ads, video ads, sponsored industry verticals, and others. In 2023, the sponsored industry verticals segment attained 27% revenue share in the retail media networks market. This segment focuses on specific categories or industries, allowing brands to promote their products in relevant contexts. Sponsored industry verticals enable advertisers to target niche audiences effectively, increasing the likelihood of conversions by presenting products within the framework of specific interests or shopping behaviours.Regional Outlook
Region-wise, this market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region witnessed 38% revenue share in the retail media networks market in 2023. This dominance can be attributed to the region's mature e-commerce landscape and high digital advertising spending. North American retailers have quickly adopted innovative retail media strategies, leveraging their extensive customer data to deliver highly targeted advertisements.
Recent Strategies Deployed in the Market
- Sep-2024: Instacart partnered with Thrive Market, an online grocery platform focused on organic and healthy products, to launch an Instacart-powered retail media network. This collaboration enables Thrive Market to leverage Instacart’s retail media expertise, providing brands with new opportunities to engage customers through targeted digital advertising.
- May-2024: Walmart joined hands with Disney, a global leader in entertainment, to launch a retail media and connected TV (CTV) advertising integration. This collaboration combines Walmart's retail media expertise with Disney’s premium content, enabling brands to connect with shoppers through immersive advertising experiences.
- May-2024: Kroger collaborated with Yahoo, a global leader in internet services, to expand the reach of Kroger’s retail media network. This collaboration allows Yahoo to tap into Kroger’s first-party shopper data, enabling more precise ad targeting across Yahoo’s digital properties.
- May-2024: Instacart formed a partnership with ROFDA, a cooperative representing independent grocers across the United States, to power the retail media network for ROFDA’s independent grocer members. Through this collaboration, Instacart will provide its retail media expertise, enabling ROFDA members to offer enhanced digital advertising opportunities to brands.
- Jun-2023: Kroger launched a self-service platform for its retail media network. The platform empowers advertisers to independently create and manage campaigns, utilizing Kroger’s shopper data to better connect with consumers across various digital channels.
List of Key Companies Profiled
- Amazon.com, Inc.
- Walmart, Inc.
- eBay, Inc.
- Home Depot, Inc.
- The Kroger Co. (Kroger Precision Marketing)
- Instacart
- Target Corporation (Target Brands, Inc.)
- Macy’s, Inc.
- Best Buy Co., Inc.
- Wayfair Inc.
Market Report Segmentation
By Platform Type
- Retailer-Owned Networks
- Third-Party Networks
By Industry Vertical
- Consumer Packaged Goods (CPG)
- Electronics & Technology
- Apparel & Fashion
- Grocery & Food Delivery
- Beauty & Personal Care
- Other Industry Verticals
By Advertising Format
- Display Ads
- Video Ads
- Sponsored Industry Verticals
- Other Advertising Formats
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. Global Retail Media Networks Market by Platform Type
Chapter 6. Global Retail Media Networks Market by Industry Vertical
Chapter 7. Global Retail Media Networks Market by Advertising Format
Chapter 8. Global Retail Media Networks Market by Region
Chapter 9. Company Profiles
Companies Mentioned
Some of the key companies in the Retail Media Networks Market include:- Amazon.com, Inc.
- Walmart, Inc.
- eBay, Inc.
- Home Depot, Inc.
- The Kroger Co. (Kroger Precision Marketing)
- Instacart
- Target Corporation (Target Brands, Inc.)
- Macy’s, Inc.
- Best Buy Co., Inc.
- Wayfair Inc.
Methodology
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