// Sales from retail media advertising are predicted to surpass that of TV revenue by 2028
// Retailer-owned ecommerce websites are currently the third fastest growing advertising channel of this year, according to GroupM
Retail media advertising sales are expected to overtake the value of TV revenue by 2028.
Advert sales from retailer-owned ecommerce websites are predicted to increase by 9.9% this year alone, and are set to be greater in value than TV sales in 2028, according to media company GroupM.
The company’s 2023 Mid-Year Forecast report revealed that retailer-owned ecommerce sites are the third fastest expanding advertising channel of this year, after digital out-of-home screens and connected TV.
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Retailers including Tesco, Amazon and Sainsbury’s are striving to draw large advertisers to their sites as they can earn not just from selling ads but from each item sold too.
Profit margins for retail companies from retail media can be as high as 90%, meaning major consumer goods companies are willing to pay a hefty premium for a prominent spot on retailers’ websites.
Online fashion giant Asos partnered with ad tech firm Criteo to ramp up its advertising revenue earlier this year, signing a three year retail media advertising deal.
Meanwhile, Ocado has tied up with The Trade Desk to give marketers direct access to its consented customer behaviour data through a tie-up with ad tech firm The Trade Desk.
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