Download Pacvue's 2024 Q2 Retail Media Benchmark Report to explore the latest performance data from Amazon, Walmart, and Instacart.

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Pacvue 2024 Q2 Retail Media Benchmark Report

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Explore performance data from Amazon, Walmart, and Instacart in our quarterly benchmark report, which compiles eCommerce advertising data from thousands of brands across every major product category. With in-depth data and benchmarks provided, this report equips you with the necessary tools to evaluate your performance and gain insight into the latest industry trends. Some of the top highlights from Q2 include Amazon’s new Sponsored TV ads, Walmart’s in-store attribution, and Instacart’s shoppable ads on YouTube.

Amazon Ads U.S. Trends

Between the micro-season shopping events and the lead-up to Prime Day 2024, ad spend on Amazon increased 15.5% quarter-over-quarter for Sponsored Brands and 11.7% for Sponsored Products. Compared to Q2 2023, Sponsored Brands ad spend is up 22.6%, and Sponsored Products is up 18.1%, showing significant continued investment in Amazon.

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Amazon Ads Europe Trends

Amazon’s European marketplaces continue to see the average CPC increase at a faster rate than the US marketplace, with Sponsored Brands increasing 17.6% and Sponsored Products increasing 12.3% in Q2. Year-over-year, Sponsored Brands increased 13.8% and Sponsored Products were up 12.3%.

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Walmart Connect Trends

Brands continued to invest in Walmart, with Sponsored Products ad spend increasing 14.5% quarter-over-quarter and 23.2% year-over-year. While Sponsored Products greatly increased spending, Sponsored Brands decreased –4.4% quarter-over-quarter and –5.3% year-over-year.

While costs are going up for Sponsored Products, the average CPC in Q2 for Sponsored Products on Walmart was 50.7% cheaper than Amazon Sponsored Products, making it a good time for brands looking to start advertising on Walmart.

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Instacart Ads Trends

Competition for ad placements on Instacart remained flat quarter-over-quarter, with the average CPC costing $0.86. While CPC remained steady in Q2, CPC decreased by -8.5% year-over-year, likely due to shifting media budgets.

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Category Trends

The Patio, Lawn, & Garden category saw a massive surge in ad spend in Q2, increasing 87.6% year-over-year. Pet Supplies increased 65.9%, and the Clothing, Shoes, & Jewelry category came in with a 51.1% increase in spending. Download the report for deep dives into the Pet Supplies, Beauty & Personal Care, and Electronics categories.

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Quarterly Performance Drivers Calendar

"What we’ve seen so far this year is that AI has enabled businesses of every size to achieve a new level of scale and speed. This is good news, considering how many new kinds of retail networks and ad formats have emerged. More innovation means more opportunity – as long as advertisers know where to look and how to adapt."

– Melissa Burdick, Pacvue President & Co-founder

Q2 Insights from Industry Experts

“Search, whether on or off the retailer’s site, is being increasingly augmented by AI that starts with solutions, rather than expecting the shopper to already have those solutions in mind. While I don't expect the weekly purchase journey for milk or eggs to shift seismically, higher consideration journeys, especially gifting, will have changes. I think we'll see a range of different shopping behaviors this holiday as a result.”

Lee Dunbar SVP, Head of Retail Media at Starcom

“Retail Media offers a wealth of opportunities for brands and agencies alike. The key is to ensure you are not trying to 'boil the ocean' and have a clear, prioritized roadmap. For brands, retail media can offer incremental revenue streams and more data solutions. On the other hand, agencies can develop more personalized campaigns, create a seamless customer experience, and even join up on and offline media.”

Neilson Hall Head of eCommerce EMEA at KINESSO Commerce

“The three major opportunities I see in today’s retail media space are the use of AI, data clean rooms, such as Amazon Marketing Cloud (AMC), and the simplified access to TV ads. At Cannes Lions, Amazon presented its AI tool for advertisers, reducing the creative effort by 90% and making creatives accessible to all companies. is getting stronger by the day and more and more user-friendly. TV ads are now available for every brand with Sponsored TV Ads. This is a game changer for SMBs and will disrupt the market of TV ads with a new offer that is incredibly efficient.”

Jérôme de Guigné Founder & CEO at e-Comas

"The biggest opportunities for eCommerce success lie in the actual attribution of sales to advertising types that traditionally lacked them. For instance, you can now get real sales attribution from streaming TV ads. The ability to measure—and not just estimate—is the most valuable aspect of retail media, especially as it moves up-funnel with larger retailers that have other media outlets, like Prime Video. You can run upper-funnel ads on inventory from HBO Max using Amazon DSP, which means you can truly see the TV attribution."

Ryan Dietrich SVP, Commerce at Media.Monks

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