Retail media will make huge gains this year in Canada. Our first-ever forecast for retail media ad spending in Canada and our joint survey of ad buyers (conducted with IAB Canada) highlight the latest developments.

Retail media’s positive hype is real. We expect it will disrupt the digital advertising landscape worldwide. In Canada, a handful of players—led by Amazon, Walmart, and Loblaw—have turned it into the fastest-growing ad segment in the country, and at scale.

Our revised estimates for total ad spending in Canada this year show a big decline, mirroring what’s expected overall for the Canadian economy. Digital will hold its level after years of double-digit growth.