State of Digital Advertising 2024: Retail Media Snapshot

Retail media is an increasingly important part of a brand's marketing strategy as the digital advertising market has only continued to grow in recent years. In fact, retail media impressions from top US retailers reached 21.6 billion in July 2024, a 27% year-over-year increase. Sensor Tower’s State of Digital Advertising 2024 Retail Media Snapshot report digs deeper into retail media advertising in 2024, from top co-branded partnerships to the differing demographics of shoppers at top retailers.

Retail Media Ad Impressions Up 27% in the US Heading into the Holiday Season

With the holiday season coming up in the US, retail media is more important than ever. US retail media impressions reached 21.6 billion impressions in July 2024, up 27% from 17 billion a year earlier. And this total should grow even further as the holiday shopping ramps up. Expect monthly impressions to blow past 30 billion by the end of the year, with record totals from retailers including Walmart, Target, and Best Buy.

November through December is peak shopping time for most retailers, but a few bucked this trend. For example, Home Depot retail media impressions ramped up along with the warmer weather and more outdoor home improvement work.

Specialized Retailers Lead Some Categories while Target and Walmart Provide Options Across Categories

In the US, general merchandise retailers like Walmart and Target have become favorites for a wide range of products. As such, they are a popular option for retail media advertising across categories, from Personal Care to Household Supplies. Walmart was among the top five retailers across each of the top categories in the 12 months between August 2023 through July 2024, while Target was among the top five in nine of the top 10.

Some other categories have more specialized retailers that surpass Walmart and Target for a given category. Sephora and Ulta top the Personal Care category, and Chewy leads PetSmart and Petco for Pet Supplies.

Want More Insights on the Digital Advertising Ecosystem? Read the Full Report

Read the State of Digital Advertising 2024 Retail Media Snapshot report highlighting the advertising leaders across social, desktop, and OTT, spanning 11 countries in a dynamic, interactive format:

• Digital Advertising Overview - The latest advertising trends across categories, from shopping to travel & tourism

• Top Retailers - Discover which retailers lead the way in co-branded ad impressions

• Audience Insights - See how retail media strategies differ based on the varying shopper demographics for top US retailers

• Top Co-Branded Advertisers - Find out which brands are partnering with top retailers, from Walmart to Sephora