The news: Instacart’s retail media business generated roughly $740 million in 2022, up 30% year over year, per The Information.
Why it matters: Instacart’s ability to generate high-margin retail media dollars could help the company offset a slowdown in its core grocery delivery business.
The big takeaway: In relatively short order, Instacart built a massive retail media business that’s more than a quarter of the size of Walmart’s advertising business. That enabled it to operate with a take rate that’s significantly lower than similar companies such as DoorDash and Airbnb.
Go further: Check out our latest Retail Media Ad Spending Forecast.
First Published on May 18, 2023
One Liberty Plaza9th FloorNew York, NY 100061-800-405-0844