Acceleration of ecommerce has led to an increase in retail media advertising

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Online shopping rose dramatically last year, with two to three years of growth being achieved in 12 months. With this, it is expected that a third of all retail sales will be online by 2024.
With the growth of ecommerce and temporary closure of brick and mortar stores, retail media and other forms of online marketing have risen. Criteo’s October 2020 State of Digital Advertising survey found that 55% of marketers are increasing their spend in the next 12 months.
Only expenditure of social media adverts (56%) surpassed that of retail website adverts. It has been forecast that ecommerce related advertising will increase 66% this year.