The IAB has been examining the issue for several months; earlier this year, it launched a working group to address the challenges for brands and advertisers, for example. Also today, the IAB released a report examining the retail media trend, finding that 62% of buyers cited lack of measurement standards as a growth challenge.
The report found that ad spend for retail media, which IAB estimates will be $45.38 billion this year, is nearing that of TV’s $61.31 billion estimate for 2023.
Recent news: Analyst predicts 5% U.S. ad industry revenue growth
“Everything we’ve learned in this study points to the fact that the continued growth and success of retail media hinge on achieving measurement standardization,” said Jeffrey Bustos, IAB’s VP, measurement, addressability, data center, in a statement.
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