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EMARKETER

Walmart beat Amazon in worldwide digital ad revenue growth for the second quarter in the past year

Article by Meaghan Yuen  |  Sep 4, 2024
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Walmart beat Amazon in worldwide digital ad revenue growth for the second quarter in the past year
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Topics
Digital Ad Spending
Digital Advertising
Retail Media
Worldwide
Walmart and Amazon Digital Ad Revenue Growth Worldwide, Q3 2023-Q2 2024 (% change)
E-Mail ChartDownload

Key stat: Walmart’s digital ad revenue grew 26% in Q2 2024, ahead of Amazon’s 20% growth, according to the company’s earnings.

Beyond the chart:

  • Walmart’s strong digital ad revenue growth is largely fueled by gains in its US retail media business, Walmart Connect, which saw 30% YoY growth.
  • Walmart will claim 6.8% of all US retail media ad spend this year, amounting to $3.72 billion this year, according to our March 2024 forecast.

Use this chart: Digital advertisers can use this chart to inform retail media investments and highlight the boost in ad spend during Q4 2023, likely due to the holidays.

Related EMARKETER reports:

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