Q2 2023 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 Q2.

  • How performance marketing channels responded to shifting consumer demands
  • How advertisers reached consumers in a changing economy
  • Key performance indicators for the second quarter of the year across retail media, paid search, and paid social
  • Details on what drove notable trends and changes over time in each advertising channel, as well as how commerce interacted with those channels

Retail media: Retail media spending growth accelerated to 35% year-over-year. Average CPC was stable YoY, which means that increasing click volume was the primary driver of growth over that period.

Paid social: The fundamental trend of “more impressions at lower prices” continued into Q2, resulting in an overall 4% dip in YoY spending. Awareness & Engagement campaign objectives, video ads and Instagram bucked that trend, with positive spending growth.

Paid search: Search spending grew 3% year-over-year. Performance Max helped move the needle for shopping campaigns, and for search spending as a whole.


In this report:

Download the report to learn quarter-over-quarter and year-over-year digital advertising campaign performance trends from Q2 2023. Highlights include:

  • Improving economic conditions are beginning to spur ad spending growth.
  • Long-term and short-term trends showed evidence of stronger consumer demand over the past six months, particularly in retail media and paid search.
Download the Report