Ecommerce advertising spend skyrockets 115% as brands turn to online retail to sell advertising
Ecommerce advert spending has risen a whopping 115 per over the last quarter, as brands increasingly look to online retail to purchase their advertising.
Third quarter ecommerce advertising spend grew 51 per cent compared to the previous quarter, while rising more than 100 per cent compared to the same period a year earlier, according to Marin Software’s latest Digital Advertising Benchmark Report.
This was driven mostly by Amazon and its record breaking Prime Day, which also saw the retailer dramatically grow its advertising revenues.
“Amazon has had a phenomenal year, supported by a record-breaking Prime Day and a highly successful back-to-school season,” Marin Software’s senior vice president of marketing Wesley MacLaggan said.
“Brands have begun to recognise the power advertising on Amazon has and the unique opportunity it offers to capture people starting their purchase journey.
“With Black Friday and Cyber Monday just around the corner, Marin expects the rise in eCommerce to continue into 2020 as Amazon refines its offering and advertisers get more sophisticated in how they use Amazon’s platforms.”