Retail media advertising is the next big trend in digital advertising, driven by the surge in ecommerce spending and brands’ desire to target consumers close to the point of purchase.

US retail media ad spend will hit $31.49 billion in 2021, up 53.4% over 2020. By 2023, this figure will pass $50 billion, with the vast majority of retail media ad spend coming from ecommerce channels.

CVS revealed a $1B plan to close 900 retail stores and add primary care services to the remaining—we unpack why consumers are flocking to retail health and what CVS and Walgreens are doing to gain their trust.

On today's episode, we discuss the pillars driving what's next in retail media, how to navigate the pros and cons of retail media expansion, and retail media budget commitments. We then talk about how eBay is streamlining things, the significance of Wayfair's bump in the road, and Nike's foray into the metaverse. Tune in to the discussion with senior director of strategic marketplace services at Tinuiti Elizabeth Marsten and eMarketer principal analyst at Insider Intelligence Andrew Lipsman.

Amazon’s quiet ascendance to the digital advertising elite has spawned the now fast-emerging trend of retail media advertising.

Find out the four pillars that will define retail media’s development

Instacart delays IPO plans to focus on broadening services: The company believes it may generate as much as $10 billion to $20 billion in annual revenues from its retail media network in the coming years.

Google’s paid search ads have gotten pricier in the US, with costs per click (CPCs) rising across retail product categories in Q3 2021.

Last year, there was a huge shakeout in the UK’s retail landscape. Long-established names disappeared, hobbled by pandemic pressures, while a swath of digital-first players gained new customers.

Amazon maintains its commanding lead in the US retail ecommerce space, generating 41.0% of the sales this year.

The past 18 months have been a whirlwind in retail, with consumers adapting to technology at a faster clip and retailers looking to bridge the gap between online and in-store. However, total retail sales will dip slightly in the new year before returning to pre-pandemic levels in 2023 and beyond.

Learn how to identify opportunities and areas for improvement across your sales and marketing strategy by using competitive insights

Insider Intelligence spoke with Pooja Sethi, senior vice president and general manager of Resale-as-a-ServiceⓇ at thredUP, on how the retail ecommerce industry can enable consumers to buy secondhand clothing online.