Advertisers boost spending at retailers like Walmart and Amazon as TV shrinks

Core Insights - The advertising market is shifting focus from traditional TV to retail and mobile platforms, with significant growth in retail media networks [1][2] - Retail media ad spending is projected to more than double from $114.18 billion in 2023 to $233.89 billion in 2027, indicating a substantial increase in digital advertising's share [2] - Brands are increasingly adopting a holistic approach to advertising, seeking growth and outcomes rather than adhering to traditional media buying formulas [2][3] Retail Media Networks - Retail media networks from companies like Amazon, Walmart, and Kroger are attracting billions in advertising dollars, reflecting a major trend in the ad market [1] - Retail media is expected to grow from 18.9% of digital advertising spending in 2023 to 25.7% in 2027, highlighting its rising importance [2] Audience Engagement - Brands are becoming more flexible in their strategies to reach audiences, viewing retail environments and mobile apps as effective channels for mass reach advertising [3] - The use of screens in convenience retail stores, such as those operated by GSTV, allows brands to engage with 115 million viewers monthly, showcasing the potential of in-store advertising [2][3]