PUBLISHER: Grand View Research | PRODUCT CODE: 1575189
PUBLISHER: Grand View Research | PRODUCT CODE: 1575189
The global retail media networks market size was estimated at USD 30.02 billion in 2023 and is anticipated to grow at a CAGR of 10.5% from 2024 to 2030. The rapid growth of e-commerce is driving growth of the market, as more consumers shift to online shopping. This trend has been accelerated by the convenience and variety offered by online platforms, prompting brands to leverage retail media networks to maintain visibility and engagement with their target audiences. Moreover, changing consumer shopping habits, including increased reliance on mobile devices and online platforms, are prompting retailers to invest in retail media networks to connect with consumers.
Retailers have access to vast amounts of first-party data, enabling more precise targeting of ads based on customer behavior and preferences. This level of personalization improves the effectiveness of ads, helping brands reach their ideal audience while enhancing the shopping experience for consumers. In an era where third-party cookies are being phased out, retailers' proprietary data becomes a key asset in digital advertising.
The shift in advertising budgets from traditional media to digital platforms also supports retail media networks (RMN) growth. Brands are increasingly allocating more resources to retail media as they seek higher returns on investment. Since RMNs offer a clear path to purchase, they provide better attribution for ad spend, driving demand for this advertising model.
The expansion of retail ecosystems and the integration of physical and digital channels play a crucial role in the growth of RMNs. Retailers are creating seamless omnichannel experiences, allowing them to reach customers both in-store and online. This enhances the potential for cross-channel advertising campaigns, further boosting the RMN market.
Moreover, the increasing need for first-party data utilization in retail media is boosting the market growth. As third-party cookies decline, retailers are seeking innovative solutions to capitalize on their vast consumer data, enabling more personalized and effective advertising strategies that drive higher returns on ad spend. For instance, in September 2024, Pentaleap GmbH, a retail media technology provider, announced the launch of its modular retail media platform. The platform aims to maximize the potential of retail media networks (RMNs) for onsite monetization and fosters an open and efficient ecosystem for both RMNs and advertisers. The Publisher Manager portal provides complete control over site monetization through tools, enabling increased revenue without compromising relevance for RMNs.
Global Retail Media Networks 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 retail media network market report based on advertising format, platform advertising format, industry vertical, and region.