Retail media ad spending will hit €25 billion in Europe by 2026, according to IAB Europe forecasts.
According to its report, in collaboration with Xandr, retail media can no longer be described as “an emerging channel” given the Covid-19 pandemic “fundamentally changed” consumer shopping habits. For example, now three-quarters of shoppers in Europe go online.
This forecast and study come as Channel 4 and ITV have inked deals with Sainsbury’s Nectar 360 and Tesco’s Dunnhumby respectively to match broadcaster viewing data with first-party retail media datasets.
Wavemaker global ecommerce lead Mudit Jaju described the retail media market worldwide as going through a “massive explosion in every way” with the number and variety of offerings in retail media “exploding”, with ensuing high volatility, inflation and opportunity in The Media Leader Podcast.
