COVID-19: Global eCommerce ad spend to hit $58.5bn this year

Global advertising spend on eCommerce platforms will grow by 18.3 per cent this year, reaching $58.5 billion, as brands look to pounce on the online shopping boom caused by the COVID-19 pandemic. Worldwide spend on eCommerce platforms such as Amazon, Tmall, Rakuten, Walmart, Carrefour, TikTok, and Pinduoduo will grow 30 times faster than the wider online ad market this year, according to Warc, while the overall advertising industry is expected to see a fall in spend of 8.1 per cent. Alibaba, the world’s third-largest ad business after Alphabet and Facebook,…

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