US digital retail media ad spending is projected to hit $61 billion next year, per Insider Intelligence, while in-store retail media spending is only a couple hundred million dollar market, Andrew Lipsman, principal analyst at Insider Intelligence, told Retail Brew.
A number of retailers like Walmart, Kroger, and Hy-Vee have announced moves to cash in on in-store media with screens across stores displaying third-party ads. More are likely to follow, as physical stores are a "natural evolution," from online advertising, according to Lipsman, who called stores the "next major media channel." While there are plenty of opportunities for eye-catching innovation from entrance to checkout, bringing retail media networks in stores also comes with challenges.
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