The forecast: US retail media ad spend will hit $31.49 billion in 2021, up 53.4% over 2020. By 2023, this figure will pass $50 billion, with the vast majority of retail media ad spend coming from ecommerce channels.
Looking ahead: Retail media advertising will continue to be one of the fastest-growing segments of US digital advertising through 2023, with growth continuing in the double digits. Retail media will also increase as a share of total US digital ad spend, hitting 19.3% in 2023.
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