TMCnet News
Acceleration of Online Shopping in 2020 Yielded Robust Growth Across Digital Channels in the First Quarter of This Year, Kenshoo Report RevealsSAN FRANCISCO, April 29, 2021 /PRNewswire/ -- Kenshoo, a global leader in marketing intelligence and activation technology, is releasing the Q1 2021 Digital Marketing Quarterly Trends Report, outlining the digital advertising trends that dominated the first quarter of 2021. The sustained popularity of online shopping pushed brands to continue investing heavily in support for their online channels, triggering growth in spending across Paid Search, Retail Media, and Social. Retail Media Brings in New Players and Booming Spending In addition to the diversification of where brands are investing their Retail Media dollars, the amount is also up 74% year-over-year. Clicks for Retail Media ads increased 65% year-over-year, and impressions have grown 89% during the same time frame. Cost-per-click has gone up compared to the same quarter last year (five percent) and clickthrough rates have seen an 11% decline. The Commerce Halo Effect and Surge in Paid Search While the overall clickthrough rate for the search channel dropped 12% year-over-year, keyword ads saw this rate grow significantly, helping drive overall clicks up 66% compared to Q1 2020. Meanwhile, search shopping ads were the main component of 88% growth in impressions. Cost-per-click across the combined keyword and shopping segments dipped 12% year-over-year, matching the overall change in clickthrough rate. Social Spending Jumped in Comparison to Q1 2020 "The amount of money brands are putting into digital advertising is surging, and this is a trend we believe will sustain as ecommerce continues to dominate," comments Chris Costello, senior director of marketing research at Kenshoo. "The growth of Retail Media and its halo effect on Paid Search point to an increasingly interdependent relationship between digital touchpoints for commerce advertisers. In the months to come, more retailers will push to gain a piece of the advertising revenue pie, and both those retailers and the consumer brands that they sell will turn to adjacent channels to let customers know how to find them." Methodology Except where noted, only advertisers with 15 consecutive months of performance data are included and some additional outliers have been excluded. Ad spending and pricing have been translated to USD at the time the spending was incurred. About Kenshoo Kenshoo brand and product names are trademarks of Kenshoo Ltd. Other company and brand names may be trademarks of their respective owners. View original content to download multimedia:http://www.prnewswire.com/news-releases/acceleration-of-online-shopping-in-2020-yielded-robust-growth-across-digital-channels-in-the-first-quarter-of-this-year-kenshoo-report-reveals-301280482.html SOURCE Kenshoo |