The commerce media landscape is undergoing considerable expansion, with its reach now extending beyond traditional retail environments. This evolution presents new opportunities and challenges for retail media professionals, brands, agencies, and technology providers aiming to adapt advertising strategies to a broader market.
Commerce Media’s Explosive Growth
Key Market Projections
According to recent data from eMarketer, the US commerce media market is projected to reach approximately $93 billion by 2029, growing at a compound annual growth rate (CAGR) exceeding 15% from 2023 to 2029. This rapid growth underscores the increasing value placed on commerce media as a critical channel for driving sales and brand awareness.
Beyond Retail: The Expanding Frontier
New Channels and Data Sources
The definition of commerce media is expanding beyond e-commerce retail websites and apps to include non-retail media networks. Sectors such as financial services, fitness, automotive, and travel are emerging as relevant platforms. These sectors provide access to rich first-party data and engaged audiences, enabling advertisers to target consumers more precisely throughout various purchase journeys.
Strategic Implications for Advertisers
Prioritizing Sales & Awareness
Advertisers are increasingly leveraging commerce media beyond traditional retail to achieve a mix of objectives, primarily focused on driving sales and raising brand awareness. The integration of commerce media within diverse sectors means campaigns can be more closely aligned with consumer behaviors and purchase intent across different categories. This broadening landscape demands that retail media professionals expand their strategies to include these emerging channels and data sources.
This expansion of commerce media beyond traditional retail highlights a significant shift in the advertising landscape. For professionals in retail media, it signals the need to broaden market perspectives and adopt multi-sector approaches to capitalize on growth opportunities and maintain competitive advantage.
