Supermarket group Coles expects the Australian retail media market to grow by more than 20% a year
At an investor day in Melbourne, chief customer officer Amanda McVay said the Australian retail media market is estimated at $1 billion and is expected to grow rapidly in line with international trends.
Almost eight out ten (89%) of Australian brands are already investing in or experimenting with retail media.
And 40% of retail media investment is coming from new budgets pointed at retailers.
Coles 360, the supermarket group's retail media arm, describes retail media as digital advertising’s third big wave, wikth search and social being the first two.
A chart from the investor day presentation:
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