Retailers Increase Digital Ad Spending to Lure Holiday Shoppers

As e-commerce sales continue to surge, retailers are increasing their spending on digital advertising in record numbers. Analysts forecast that the boost will more than likely go towards mobile and social media advertising, which has seen strong growth over the past years according to a new survey by eMarketer.

The eMarketer report indidcates that US retailers will increase their digital ad budgets by 15.7 percent to $9.50 billion, up from 14.5 percent last year. Retail companies currently spend more than any other industry on digital ads, accounting for a 22.3 percent share of total US digital ad spending.

Drawing holiday shoppers is a key objective for ad spending, as the last months of the year account for the vast majority of retail revenues. In fact, it is estimated that 23.5 percent of all retail e-commerce sales in 2013 will take place in November and December. Furthermore, online sales during the holiday shopping season will increase to $78.7 billion this year, up 15% from $68.4 billion last year, according to projections by Forrester Research Inc.

For more see:
This eMarketer report

Related stories:
Consumers' Use of Mobile for Holiday Shopping Soars
NRF: Consumers Getting a Head Start on Holiday Shopping, Purchasing More Gift Cards
Shoppers Will Spend 50 Percent of Their Holiday Budget On Black Friday Sales
Surveys Battle Over Online or In-Store Shopping This Holiday Season
Weaker Holiday Sales Projected, Except for Certain Retailers

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