According to the eCommerce Navigator Q3 2024 report, the cost-per-click (CPC) growth has stabilized at 2% year-over-year after several quarters of double-digit inflation. This stabilization allows brands to scale ad volume without proportionate cost increases. Meanwhile, retail media spending grew by 28% year-over-year, significantly outpacing traditional digital advertising.
Amazon remains a dominant player, but Walmart is gaining traction with higher engagement rates (1.2% CTR vs. Amazon’s 0.8%). Walmart’s more stable return-on-ad-spend (ROAS) metrics and growing advertiser investment highlight the increasing competition in this space.
To succeed in this dynamic market, brands should leverage stabilized costs, diversify platform strategies, and balance performance marketing with brand-building initiatives. With retail media projected to account for $140.1 billion globally in 2024, those who adapt effectively will thrive.
Here are some key takeaways:
• Cost Stabilization: CPC growth plateaued at 2% YoY, creating an opportunity to scale ad volume without significant cost hikes.
• Platform Growth: Retail media spending increased by 28% YoY, outpacing traditional digital advertising.
• Future Trends: Brands should balance lower-funnel tactics with brand-building and diversify across platforms for better engagement and ROI.
Read more by following the link: https://www.forbes.com/sites/kirimasters/2024/11/13/retail-media-costs-stabilize-while-competition-heats-up/