PUBLISHER: Grand View Research | PRODUCT CODE: 1574850
PUBLISHER: Grand View Research | PRODUCT CODE: 1574850
The global retail media platform market size was estimated at USD 16.20 billion in 2023 and is anticipated to grow at a CAGR of 8.4% from 2024 to 2030. The ongoing digital transformation of retail has led to a surge in e-commerce, creating more digital real estate for advertising opportunities. Retailers are increasingly looking to monetize their online traffic and turn their websites into ad platforms, offering valuable first-party data for highly targeted campaigns. The shift in consumer behavior toward online shopping and personalized experiences has also fueled investment in retail media platforms, as brands need to reach consumers in environments where they are most likely to make purchases.
First-party data is a critical growth driver in the wake of privacy regulations and the deprecation of third-party cookies, making retail media an essential alternative for advertisers seeking precise targeting. Additionally, the integration of AI and machine learning into these platforms has enhanced campaign efficiency and performance, enabling real-time optimization and improved ROI measurement, which encourages higher ad spending. Retailers are also expanding their retail media platform beyond digital, integrating them with in-store advertising, and bridging the gap between online and offline consumer engagement.
Major retailers like Amazon, Walmart, and Target have developed sophisticated retail media platforms to capitalize on their high traffic and vast amounts of first-party consumer data. These platforms are primarily attractive to brands seeking to advertise in environments close to the point of purchase, where consumers are already in a shopping mindset. Retail media offers advanced targeting capabilities based on shopping behaviors and interests, making it an essential part of the digital advertising landscape. The market encompasses a wide range of solutions, from self-serve ad platforms to comprehensive analytics tools. Key players include not only retailers but also third-party technology providers like Criteo and CitrusAd, which help brands manage and optimize their campaigns across different retail platforms. As e-commerce continues to rise and the cookie-less future approaches, the role of retail media is becoming more central in the digital advertising ecosystem.
Global Retail Media Platform Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global retail media platform market report based on advertising format, platform, deployment, industry vertical, and region.