Q1 2024 Quarterly Trends Report
See the breakdown of industry trends and performance across retail media, paid search, and paid social. Download the report to dive into spending, pricing, and results across channels, and find out what influenced the digital advertising market in Q1.
- Key performance indicators for the first quarter of the year across retail media, paid search, and paid social.
- How ad prices are up over Q1 of last year in all channels, including paid social for the first time since 2022.
- How commerce media helped drive digital media channel spending higher in Q1.
- Details on how changes to ad offerings across search and social rebalanced the value of clicks and impression in those channels.
Retail media: Average cost-per-click rose 16% over Q4 of 2023 but stayed flat compared to last quarter, resulting in a YoY spend increase of 27%.
Paid social: Social commerce had an exceptionally strong showing compared to last quarter, with product ad and post types increasing spend by 70% over Q3.
Paid search: YoY spending increased 4% despite lower impression volume as the efficiency of newer ad and campaign formats drove higher clickthrough rates and click prices.
In this report:
Download the report to learn quarter-over-quarter and year-over-year digital advertising campaign performance trends from Q1 2024.
- Higher ad prices played a role in continued spending growth across retail media, paid search and paid social while higher ad volume also factored into retail media and paid social.
- A 24% YoY increase in spending across retail media showed no negative impact on return on ad spend (ROAS) for the ecommerce channel, as it was matched by a 24% increase in attributed sales revenue.
- The share of Skai search accounts running Performance Max campaigns has remained fairly flat over the last three quarters, even as the YoY spending on these ads has nearly tripled.
- Social advertisers increased spending across all publishers by 17% YoY, with Meta spending up 8%.