Advertising spend on retail media platforms has risen by more than 50% as the cost-per-click reached a new high, according to data from digital advertising company Skai.
Retail media, covering platforms like Amazon, Walmart and Instacart, saw advertising spend rise by 55% in Q2 2021 while the number of clicks has increased by 25%.
WARC Data forecasts e-commerce advertising spend to rise by 35% this year, outpacing other media.
As spend is growing quicker than clicks, advertising costs on e-commerce platforms have increased – the average cost-per-click (CPC) for retail media advertising is now $1.01, up...