The Inspirational’22 conferences , organized by IAB Spain, began this Monday at the Cines Proyecciones in Madrid. Daniel Knapp, Chief Economist of IAB Europe , was in charge of opening the presentations in the E-commerce Room with his talk «The state of retail media in Europe: hangover or revolution? « Through exhaustive and detailed reflection, the question has been asked if the success of retail media is a consequence of the pandemic and will be a passing fad or if it represents a true revolution in the digital environment.
Predictions and trends for the future
During the conference at the category email list Inspirational’22 conference. Knapp also addressed the forecasts for the media retail market. Trend that began in 2020 and will grow by 7% this year. More than three times as much as digital advertising in general. In 2023 it will reach 18.7% of the total digital budget and in 2024 it will be almost 40%, according to Daniel Knapp. Amazon , in this sense “dominates the space. But Douglas, Carrefour, Sainsbury, El Corte Inglés and many other agents “are growing fast.” Amazon, although growing, does so more slowly. «There are many opportunities outside of Amazon. “We have many powerful retailers in Europe ,” he stated.
Retail media will increase more than three times as much
Ebay , by far, follows on the list: it KY Lists obtained 1 billion dollars in 2021 and plans to obtain 2 billion in two years. Zalando , for its part, will reach 1 billion in 2025. “Retail media goes beyond ecommerce, it is no longer a small channel but something big,” he says, adding that it currently moves 8 trillion dollars in the world. Estimated to move 8 trillion dollars in 2026. Regarding digital advertising by sector. The retail sector has been the one that has invested the most, reaching 21.9% of its total budget in digital. This is followed by automotive (12.6%) and financial services (12.2%).
