Q3 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 Q3.
- Key performance indicators for the third quarter of the year across retail media, paid search, and paid social.
- How an increase in ad prices are a key factor in understanding spending growth throughout 2023.
- How sequential growth drove digital media channel spending higher in Q3.
- Details on ad spending growth from Q2 to Q3, with every channel seeing their strongest spending month of 2023 during the third quarter.
Retail media: Total spend for retail media increased 35% over Q3 of last year, equaling the YoY growth rate from last quarter.
Paid social: While upper- and mid-funnel campaigns showed double-digit YoY growth, lower-funnel campaigns on Skai were flat to slightly down, bringing overall spending down 3%.
Paid search: Spending growth was higher for search programs targeting revenue—driven in part by adoption of Performance Max campaigns—but also for a small segment maximizing impressions and impression share.
In this report:
Download the report to learn quarter-over-quarter and year-over-year digital advertising campaign performance trends from Q3 2023.
- Q3 spending was up over Q1 levels across all channels, with retail media and paid search showing more consistent growth YTD.
- Increases in ad prices are a key factor in understanding spending growth throughout 2023.
- Year-over-year (YoY) spending accelerated from +3% to +5% in paid search, retail media nearly matched its robust +35% growth from last quarter and paid social diverged from current macro trends for structural reasons.
- There is a clear divergence in our data between growth rates of social campaigns based on objectives, suggesting a stronger social rebound for upper- and mid-funnel activity.