Market Insights Advertising & Media Advertising

Retail Platform Advertising - Ireland

Ireland

In Ireland, ad spending in the Retail Platform Advertising market is projected to reach €295.90m in 2024.
It is expected that ad spending will show an annual growth rate (CAGR 2024-2029) of 13.71%, resulting in a projected market volume of €562.50m by 2029.
The average ad spending per user in the Retail Platform Advertising market withIreland is projected to amount to €116.50 in 2024.
In global comparison, most ad spending will be generated the United States, which is expected to reach €53,440.00m in 2024.
In Ireland, the retail platform advertising sector is increasingly prioritizing personalized consumer experiences, reflecting a broader trend towards data-driven marketing strategies.

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Analyst Opinion

The Retail Platform Advertising Market in Ireland is witnessing steady growth, influenced by the rising digitalization of retail, increasing consumer engagement on online platforms, and the shift towards data-driven marketing strategies that enhance advertising effectiveness.

Customer preferences: Consumers in Ireland are increasingly gravitating towards personalized shopping experiences, prompting retail platforms to enhance their advertising strategies with tailored content that resonates with individual preferences. The rise of sustainability consciousness among younger demographics is driving brands to highlight eco-friendly practices and products in their advertising. Furthermore, the growing trend of social commerce is influencing consumers to engage more with brands through social media, blurring the lines between content and commerce as they seek authentic connections and recommendations.

Trends in the market: In Ireland, the Retail Platform Advertising Market is experiencing a shift towards hyper-personalization, as retailers leverage data analytics to deliver tailored ads that align with consumer preferences. Concurrently, the emphasis on sustainability is prompting brands to integrate eco-friendly messaging into their advertising strategies, particularly to appeal to environmentally conscious younger consumers. Additionally, the rise of social commerce is reshaping consumer interactions, with platforms facilitating direct purchasing through social media, thereby creating a seamless blend of engagement and shopping. These trends are significant as they compel brands to innovate and adapt, fostering deeper connections with their audience while enhancing brand loyalty and driving sales.

Local special circumstances: In Ireland, the Retail Platform Advertising Market is uniquely influenced by cultural factors such as a strong emphasis on community and local businesses. This fosters an environment where consumers are more inclined to support brands that resonate with their values, particularly sustainability and local sourcing. Geographically, the nation’s compact size enables efficient data collection and analysis, allowing retailers to implement hyper-personalized advertising strategies swiftly. Additionally, regulatory frameworks promoting data privacy challenge brands to balance personalization with consumer trust, shaping how they engage with their audiences.

Underlying macroeconomic factors: The Retail Platform Advertising Market in Ireland is significantly influenced by macroeconomic factors such as consumer spending patterns, economic stability, and digital transformation trends. A robust national economy, characterized by steady GDP growth and low unemployment rates, enhances disposable income, encouraging greater investment in advertising. Additionally, global shifts toward e-commerce are propelling local retailers to adopt innovative advertising strategies. Fiscal policies promoting digital infrastructure investments further bolster market growth. However, inflationary pressures and fluctuating consumer confidence can challenge spending, influencing advertising budgets and strategies within the retail sector.

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).