We may be in the midst of the busy retail season, but Insider Intelligence’s new media ad spend forecast is hardly a result of seasonal bias.

(Source: Insider Intelligence)

According to its forecast, U.S. retail media ad spend will reach almost $110 billion by 2027, doubling its 2023 numbers and growing by more than 20% annually.

“The uptick in our forecast resulted from strong showings from both Amazon Ads and Walmart Connect, the two biggest retail media networks in the country,” says Insider Intelligence. “By 2027, retail media will account for more than one-quarter of US digital ad spend, per our forecast.”