Chris "Coz" Costello, Senior Director of Marketing Research @ Skai
Chris "Coz" Costello, Senior Director of Marketing Research @ Skai
With Prime Day driving Retail Media spending to record highs in June, overall investment in the shopping-heavy channel dropped 25% in July. Across all Skai accounts, 59% saw their budgets drop by at least ten percent, and just over four out of ten accounts paid at least 10% less per click. For Computers & Consumer Electronics, the focus on Prime Day was perhaps the starkest, with spending down 44% from June to July.
Paid Social ad prices also declined 7% from June to July as CPM was down at least 10% for nearly half (46%) of accounts. Several categories, including Computers & Consumer Electronics, Pets & Animals and Sports & Fitness bucked that overall trend, with spending increasing for the month.
Finally, aggregate spending on Paid Search was up just slightly (+1%), even as more advertisers saw their monthly spending decrease rather than increase, which can happen based on the relative size of budgets from the individual advertisers moving up or down. The Jobs & Education segment saw the biggest month-over-month increase at +14%.
How do you measure up? Check out these benchmarks to see if your programs are on par with your industry peers or if you’re ahead or behind the curve.
This is a continuation of our monthly paid media snapshot series. As with any benchmark, your mileage may vary, but we hope this provides a bit more context for you as a marketer as you navigate the ups and downs of your program’s performance.
Methodology note. For the purpose of these monthly benchmarks, only Skai accounts with spend above a minimum threshold for the previous three months are included in this analysis.
Overall, spending in paid search increased 1% from June to July.
Overall, the average cost of a click in paid search advertising rose 8% from June to July.
Overall, spending in social advertising dropped 7% from June to July.
Overall, the average cost of a thousand impressions in social advertising decreased 1% from June to July.
Overall, spending in retail media advertising dropped 25% from June to July.
Overall, the average cost of a click in retail media advertising decreased 10% from June to July.
Come back next month for the most up-to-date data. Until then, you can dive into more of our research via our Quarterly Trends Reports hub.
And please visit the Skai blog and Research & Reports page for ongoing insights, analysis, and interviews on all things related to digital advertising.
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