Retail Media Ad Spending Grew 31% On Amazon In 2023
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According to CommerceIQ's "State of Retail" rreport reveals retail media ad spending jumped 31% last year, with particular strength seen in the fourth quarter as the holiday shopping season got under way. The slowest yearly growth was seen in April at 6.1%, while the highest was in December at 62.8%.
Among categories, pet products saw the highest growth in ad spend at about 93%, followed by grocery items at 53% and toys at 33%, the study found.
