Retail media, which includes digital advertising using retailer's first-party data, has surged in the US from a valuation of $1 billion in 2016 to $30 billion in 2021. This growth isn't limited to retailer websites or apps; it encompasses streaming services, physical stores, and even spaces like digital billboards and social networks. Delivery services and hotels have also joined the retail media bandwagon.

The appeal of retail media lies in its closeness to the purchasing decision and the valuable data it provides. Julie Jeancolas from dunnhumby notes that returns from retail media could account for up to 15% of a retailer's EBIT. As other ad ecosystems face hurdles, businesses are increasingly attracted to this targeted advertising opportunity.

By the end of 2023, the US retail media market is projected to hit $45 billion. Despite challenges such as inflation and global unrest, its growth remains strong, driven by the move towards performance-based, closed-loop advertisements.