Here’s how ad buyers ranked the retail media networks of 11 major retailers—Amazon, Best Buy, Costco Wholesale, eBay, The Home Depot, Instacart, Kroger, Macy’s, Target, Walmart, and Wayfair—according to the attributes they value most.

Retail media advertising poised to grow in Latin America: The region’s marketers and retailers are awakening to opportunities to help drive consumer purchases with media networks.

After a banner year in 2021, we expect retail media advertising to rise to $52.21 billion by 2023. Dozens of retail media networks have launched over the past few years, with virtually every leading digital marketplace, mass merchandiser, national grocery chain, category-specific retailer, and delivery provider getting into the game.

In 2021, Amazon’s US average revenue per user (ARPU) for its retail media network was nearly 4 times that of Instacart and close to 9 times that of Walmart.

Grocers fine-tune their retail media networks to attract CPG dollars: Kroger and Walmart’s new features aim to improve advertisers’ experiences and results, but they may fall short of expectations.

In Latin America in 2022, digital payments will make gains, consumer expectations around ecommerce will shift, corporate sustainability and social issues will come to the fore, SMBs will bank on social commerce, and retail media networks will make their presence felt.

How are various players around the world getting in on the latest digital advertising bandwagon of retail media? Join our analyst Bill Fisher as he hosts analysts Peter Newman, Matteo Ceurvels, and Paul Briggs.

Traffic on ecommerce websites and apps is ground zero for establishing a retail media network.

Retail media advertising had a banner year in 2021—one that will be hard to top. Although growth is expected to taper this year, there are several reasons why retailers looking to build their own media networks should take notice.

By 2024, we expect US digital ad spend to be about $65 billion higher than what we expected before the pandemic. The biggest drivers behind these larger-than-expected increases are retail media networks and connected TV.

Brands eagerly jump on the retail media network bandwagon: As access to customer data becomes a priority for brands, retailers see an opportunity to diversify their revenue streams.

Best Buy hops on retail ad network bandwagon: The electronics company is the latest of many to leverage its valuable consumer purchase data to form its own media company.

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.

After launching on-site sponsored ads in Q4 2021 and reporting $40 million in ad revenues from hundreds of brand partners that year, Nordstrom now plans to further expand its retail media network. Read the full report.

Looking forward: Though search and social ad formats remain viable, brands shouldn’t ignore the promise of newer options such as retail media networks and video advertising.

Between 2020 and 2021, the number of CPG brands working with retail media networks to gain access to first-party data nearly doubled from 33% to 62%, according to an October 2021 survey by Merkle. Smaller Platforms Look to Alternatives.

In a survey of marketing decision-makers from 163 leading organizations, more than 80% say they plan to increase their retail media spending next year, showing the popularity and continued growth of the channel.

Instacart ranks higher than any grocer on our 2022 “Retail Media Networks Perception Benchmark,” thanks in part to the traffic its platform sees. But with Walmart, Kroger, and others building out their advertising platforms, Instacart will have to develop more sophisticated capabilities to attract advertisers’ attention.