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
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