Roku and Currys Partner to Deliver First of its Kind Connected TV Offering
Roku UK and Omnichannel Tech Retailer Currys today announced a partnership that will see Currys offering Connected TV video ads on the Roku platform throughout the UK, including streaming players and Roku TV. Launched last year, Currys Connected Media enables brands who sell products via the retailer to advertise on its retail site and leverage first-party customer data to granularly target audiences. Rich Halton, Country Manager at Roku UK, shared this:
“Combining our expertise in TV streaming advertising with Currys’ leadership as an omnichannel tech retailer, we believe this partnership can combine the power of retail media and streaming video to help brands improve the effectiveness of their marketing investment.”
Walmart Outpaces Amazon on Advertising Revenue Growth in Q2
eMarketer prepared an interesting comparison of advertising revenue growth in Q2, highlighting Walmart’s impressive Q2 financial results, including a 26% increase in advertising revenue compared to the previous quarter. This marks the third consecutive quarter in which Walmart has been on par with or outperformed Amazon. Our Q2 Retail Media Benchmark Report showed the stark difference in the cost of advertising between the two platforms, highlighting the increased competition and cost-per-click of advertising on Amazon. What does this mean for brands? Walmart offers a huge opportunity to tap into a wide demographic at a more affordable price. Read our Co-Founder and President Melissa Burdick’s insights on the industry’s sleeping giant here.
US eCommerce Grows 7.5% in the First Six Months of 2024
eCommerce grew 7.5% year-over-year, representing over 22% of Core Retail Sales. According to the US Department of Commerce Census Bureau, Core Retail sales grew 3.1% in the first half of 2024, with eCommerce making up 50% of this growth. The majority of this growth was attributed to Amazon and Walmart, but Shein, Temu, and TikTok Marketplace saw some remarkable growth.
Retail Media Ad Spend to Exceed $129 Billion by 2028
eMarketer released its ‘Retail Media Opportunity’ market insights report earlier this week, which has some fantastic insights and highlights the staggering growth we can expect to see in the next five years. eMarketer estimates that by 2028, $1 of every $4 spent on advertising will be represented by Retail Media. As with any channel that grows exceptionally quickly, there are still teething issues to resolve; the primary one is standardized measurement across retailers. Pacvue’s cross-retailer dashboard already helps brands analyze performance across retailers in a single view, and in just a few weeks, we’ll have something exciting to share to further help brands resolve this issue… watch this space.
Amazon Ads Hosts First-ever Event in India
Last week, Amazon Ads hosted its inaugural Tech Day event in India. Pacvue’s Nate Shurilla and Toni Beckker met with hundreds of ambitious brands and agencies to share insights, strategies and opportunities for this massive market. Pacvue is excited to support this market in its continued growth – if you’re curious to learn more about the opportunities to expand to or launch in India, get in touch with a Pacvue commerce expert today.
