Retail media has quickly evolved from a niche advertising option to a key player in digital advertising. As traditional advertising methods lose ground, retailers leverage their first-party data to create highly targeted ad experiences, providing new revenue streams.
Retail media is experiencing exponential growth. In 2022, global retail media revenue reached $101 billion, representing 18% of global digital ad spend. Projections indicate that retail media will make up more than $100 billion in U.S. ad spend by 2027, underscoring its rapid expansion.
Retail media networks are growing rapidly due to several key factors:
The Middle East is undergoing rapid digital transformation, with more consumers in Saudi Arabia and the UAE embracing e-commerce. In Saudi Arabia, 91% of consumers shop online, and 96% of UAE consumers now engage in e-commerce. Retail media plays a pivotal role in this transformation.
GoWit’s partnership with Etmana, an online fashion marketplace, is enhancing Etmana’s ability to deliver personalized ads. This strategic alliance highlights the increasing importance of retail media in the region.
Amazon dominates the retail media landscape in the MENA region. In the UAE, brands such as Emirates Islamic Bank have successfully used Amazon’s advertising solutions to reduce cost-per-lead by 80%.
Retail media offers several advantages:
To stay competitive, brands must:
Retail media is becoming a dominant force in the advertising world. With its ability to provide highly targeted, measurable, and scalable campaigns, retail media offers brands a competitive edge in today’s fast-evolving digital landscape.
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