The short version

Andrew Lipsman predicted on February 22, 2023: “Why 2023 will be retail media’s inflection point. ... If the ‘Retail Media 1.0’ era was primarily about search-driven ecommerce, then Retail Media 2.0 … will be about moving up the funnel and across retail channels. ... US retail media off-site digital ad spend will jump by nearly $2 billion this year to…

Prediction by

Andrew Lipsman

On February 22, 2023

“Why 2023 will be retail media’s inflection point. ... If the ‘Retail Media 1.0’ era was primarily about search-driven ecommerce, then Retail Media 2.0 … will be about moving up the funnel and across retail channels. ... US retail media off-site digital ad spend will jump by nearly $2 billion this year to $6.54 billion, rising by 37.7%—about twice the rate of the rest of retail media, according to our forecast. Its current exponential growth trajectory points to even larger increases in net new ad spend in the coming years.”

Follow-up

Off-site retail media grew significantly, and retail media strategies have increasingly emphasized upper-funnel and cross-channel approaches, validating the qualitative aspects of the prediction. While exact dollar figures are proprietary, the directional trends materialized as described.

From the High Caliber AI network — see the AI for PR module in the course.