Market Insights Advertising & Media Advertising

Retail Platform Advertising - Australia

Australia

Ad spending in the Retail Platform Advertising market in Australia is projected to reach €1.07bn in 2024.
This ad spending is expected to exhibit an annual growth rate (CAGR 2024-2029) of 20.25%, leading to a projected market volume of €2.69bn by 2029.
The average ad spending per user in the Retail Platform Advertising market in Australia is anticipated to amount to €62.77 in 2024.
In a global context, the majority of ad spending will be generated the United States, which is expected to reach €53,440.00m in 2024.
In Australia, the retail platform advertising market is increasingly prioritizing personalized consumer experiences, reflecting a growing trend towards data-driven marketing strategies.

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Analyst Opinion

The Retail Platform Advertising Market in Australia is witnessing considerable growth, fueled by the surge in e-commerce, enhanced targeting capabilities, and the growing preference for personalized marketing strategies among consumers and businesses alike.

Customer preferences: In Australia, consumers are increasingly gravitating towards sustainable and ethically sourced products, prompting retailers to highlight their environmental credentials in advertising. Moreover, the rise of social media influencers is reshaping purchasing decisions, with younger demographics favoring brands that align with their values and lifestyles. This trend is compounded by the demand for seamless online shopping experiences, leading retailers to adopt immersive technologies like augmented reality to engage consumers more effectively in their purchasing journeys.

Trends in the market: In Australia, the Retail Platform Advertising Market is experiencing a shift towards personalized and targeted advertising, driven by advancements in data analytics and consumer behavior insights. Retailers are increasingly leveraging artificial intelligence to tailor advertisements to individual preferences, enhancing engagement and conversion rates. Concurrently, the emphasis on sustainability continues to grow, with brands showcasing eco-friendly practices to attract conscious consumers. Additionally, the integration of social commerce is on the rise, allowing seamless shopping experiences directly through social media platforms, which could significantly alter traditional retail advertising strategies and influence consumer loyalty.

Local special circumstances: In Australia, the Retail Platform Advertising Market is shaped by its diverse demographic landscape and a strong emphasis on multicultural marketing strategies. The country's vast geography necessitates localized advertising approaches to cater to urban centers and regional areas differently. Additionally, Australia’s regulatory environment promotes transparency in advertising, particularly concerning data privacy, which influences how companies leverage consumer insights. The growing awareness of indigenous culture and sustainability further drives brands to engage in authentic storytelling, reshaping advertising narratives to resonate with local values.

Underlying macroeconomic factors: The Retail Platform Advertising Market in Australia is significantly influenced by macroeconomic factors such as consumer spending patterns, economic stability, and technological advancements. The robust national economy, characterized by steady growth and low unemployment, fosters increased retail consumption, driving demand for innovative advertising solutions. Additionally, fiscal policies promoting digital infrastructure investment enhance the capabilities of retail platforms to effectively reach diverse audiences. Global economic trends, including shifts towards e-commerce and personalized marketing, further compel Australian brands to adapt their advertising strategies. These factors collectively shape a dynamic advertising landscape that prioritizes localized and culturally resonant messaging.

Methodology

Data coverage:

Data encompasses enterprises (B2B). Figures are based on Retail platform ad spending and exclude agency commissions, rebates, production costs, and taxes. The market covers advertising by businesses for digital advertisements.

Modeling approach:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party reports, and survey results from our primary research (e.g., Consumer Insights). Next, we use relevant key market indicators and data from country-specific associations, such as GDP, internet users, and digital consumer spending. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the S-curve function is well suited to forecast digital products due to the non-linear growth of technology adoption, whereas exponential trend smoothing (ETS) is more suited for projecting steady growth in traditional advertising markets.

Additional notes:

Data is modeled using current exchange rates. The impacts of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice per year. In some cases, the data is updated on an ad-hoc basis (e.g., when new relevant data has been released or significant changes within the market have an impact on the projected development).