With privacy policy changes, paid media ads are becoming great allies for retail brands. Check it out!
Insider Intelligence estimates that US retail ad spending on paid media will grow by nearly a third (31.4%) in 2022. By 2024, spending is expected to nearly double last year's total ($61 billion and $31 billion, respectively).
Paid media will be the second fastest growing advertising channel
Based on the calculation of the compound annual growth rate from 2020 to 2024, the percentage of 30.9% will be responsible for placing paid media as the second fastest growing advertising channel, behind only CTV (33.3%) and surpassing video (26.2%) and social networks (21.4%).
One explanation for this continuous and accelerated growth sri lanka whatsapp data is due to the fact that e-commerce gained a lot of strength during the pandemic period.
Channels most impacted by privacy policy changes
The study “Future of Advertising First”, by Integral Ad Science, interviewed 346 digital media experts from the United States to understand which advertising channels could be most impacted by the discontinuation of third-party cookies and the majority said it was social networks!
Meanwhile, 24% of experts said that e-commerce ads would be the most impacted and 36% mobile ads (coming in second place as the most cited ad format).
Paid media advertising is becoming increasingly advantageous for retail brands
According to consulting firm Gartner, “recent changes in data privacy have made retail media more attractive to brands.”
Whereas: “Retailers have unique access to first-party data that brands can’t get anywhere else. Brands can target in-market shoppers highly effectively with retail media that delivers an unmatched return on investment with sophisticated attribution across many product categories.”