Retail media networks are on a roll. Ad revenues are expected to increase 9.9 percent to $125.7 billion in 2023 making retailers’ websites the third-fastest growing channel for advertising, according to a new report.
GroupM’s 2023 Global Mid-Year Forecast puts retail media’s growth behind digital out-of-home and CTV, which are a fraction of its size. The media buying agency forecasts that revenues from retail media will surpass television ad revenues, including CTV, in 2028.
