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WARC upgrades retail media advertising investment 2024 to $153.3bn worldwide

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WARC

Amazon’s ad revenue is forecast to reach $52.7bn (+24.4%) in 2024 and $68.0bn in 2025 (+18.9%)
AI-enabled e-commerce is projected to reach $16.8bn by 2030

WARC releases The Future of Digital Commerce 2024 report highlighting e-commerce trends in four key areas: retail media, omnichannel marketing, AI, and cloud-based data clean rooms

4 June 2024 – Retail media advertising spend is forecast to reach $153.3bn worldwide in 2024, according to WARC’s latest analysis. The continued growth is fuelled by advances in off-site targeting as commerce data infuses into non-retail environments. All the while, Amazon continues to tighten its grip on the retail media market.

WARC Digital Commerce has today published its annual report looking at the trends having an outsized impact on the future of this dynamic and hyper-competitive space.

Gregory Grudzinski, Reports Editor, WARC Digital Commerce, and author of the study, says: “Following the explosion of digital commerce onto the advertising landscape, this report looks at trends in four areas that are having a profound impact on the future of this fast-growing and complex space to provide an overarching view of what the future holds and what marketers need to do today to prepare for it.”

Key insights outlined in WARC’s Future of Digital Commerce 2024 are:

Retail media ad investment maintains double-digit growth fuelled by off-site targeting

Investment in retail media continues to grow at a rapid pace. According to WARC’s latest analysis, global retail media advertising spend will reach $153.3bn in 2024, up 13.7% year-on-year. This marks a slight acceleration on the 13.0% growth recorded last year but falls short of the +14.3% forecast for social media.

Amazon’s dominance continues, and is set to maintain near 25% growth in 2024, to reach $52.7bn, per WARC forecasts, bringing its global share of retail media spend to 37.3%. Excluding China, this equates to 62.3% of all retail media ad spend.

Chinese platform Pinduoduo, which also owns e-commerce platform Temu, is set for a +31.3% expansion this year to earn $28.2bn, accounting for 45.9% of all retail media spend in China. Walmart reported a 26% year-on-year rise in e-commerce ad revenue in its latest earnings.

However, retail media spend growth is forecast to slow to 10.6% in 2025, with spend reaching $169.5bn, as trade marketing budgets are steadily exhausted.

AI is revolutionizing marketing. By 2030, the AI-enabled e-commerce market is projected to reach $16.8bn

Artificial Intelligence (AI) presents an opportunity for brands to personalize products, promotions, and marketing efforts at an unprecedented level, vastly exceeding prior customization attempts.

AI-driven tools can be used to identify meaningful commonalities among shoppers and create activations targeting these commonalities, such as customized product detail pages, social media posts, and loyalty program solicitations.

The ability to quickly render realistic or hyper-realistic images of people, products, and packages will be a powerful tool for creatives allowing more time for strategic planning and creative thinking.

Mert Damlapinar, Managing Principal, EPAM Systems, says: “AI is not an optional technology but a core component of e-commerce strategy, empowering brands to seamlessly integrate personalized experiences, optimize operations, and drive business growth.”

By 2030, the AI-enabled e-commerce market size is projected to reach $16.8bn, growing at a compound annual growth rate (CAGR) of 15.7% in the next seven years, according to InsightAce Analytic’s data.

Changes in consumer behavior and advancements in digital technology are shaping the omnichannel landscape

As the omnichannel space becomes increasingly complex, direct-to-consumer (DTC) brands are seeing significant growth fueled by increased consumer acceptance of online subscription offerings. DTC sales are expected to reach $161.2bn in 2024, and $591.3bn by 2032 at a CAGR of 15.4%, according to Shopify.

Brands with effective omnichannel customer engagement strategies retain on average 89% of their customers, compared to a rate of 33% for companies with weak omnichannel customer engagement, according to Invesp.

At Kroger’s Q4 and fiscal 2024 earnings call in March this year, Rodney McMullen, Chairman and CEO of the US retail company, said: “Customers value the ability to shop on their own terms with zero compromises, and we are increasing the number of omnichannel households in our ecosystem. Customers who shop both in-store and online spend three to four times more compared to in-store-only shoppers.”

As more time is spent on social media (averaging 2.5 hours/day globally), social commerce, and increasingly gaming commerce, are helping shoppers discover new brands and products.

Over the next 12-24 months, many challenges for omnichannel marketers will center around measurement and optimization. Research published in WARC’s Future of Measurement 2024 report, revealed that only a small percentage of marketers are following measurement best practices; 22% say they don’t do any attribution modelling at all.

Measurement and privacy will continue driving ‘clean room’ adoption

Data clean rooms, such as the Amazon Marketing Cloud, is an environment where brands access anonymized shopper data. They allow retailers and brands to work together to create and target high-value customer segments. This provides a more complete view of the customer journey and enables accurate attribution of marketing investments to tangible business results.

According to a survey by the CMO Council, 54% of marketers in North America cited the ability to measure campaign results as a leading driver for their data clean room strategies.

Data governance is crucial for clean room adopters to ensure the ethical and compliant use of consumer data within these environments, essential to maintain consumer trust and reduce concerns of regulatory bodies.

Brands without extensive first-party data may need to limit clean room functions to media attribution.

Read a sample report of The Future of Digital Commerce here. WARC Digital Commerce subscribers can read the report in full. A podcast is available from today.

The Future of Digital Commerce report is based on a combination of exclusive interviews with leading brands, agencies and tech companies, as well as data and case studies from WARC, external research studies and reports. It is part of WARC’s Evolution of Marketing, a content programme of in-depth forward-looking reports focusing on the future of the marketing discipline by drawing on the latest evidence, emerging trends, technologies, media, social influences and other drivers of change.

Business

Africa’s Grid Constraints Come into Focus as Regional Markets Push Toward Integration

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Regional power pools are advancing and renewable pipelines are growing, but the regulatory and financial architecture needed to connect them remains the continent’s most critical infrastructure gap – an issue central to the Power Africa Today conference at AEW 2026

CAPE TOWN, South Africa, June 25, 2026/APO Group/ –Africa’s electricity demand is projected to nearly double to 2,291 TWh by 2050, requiring an estimated $30 billion in transmission and grid infrastructure investment to unlock and integrate new generation capacity. Yet across the continent, grid systems are struggling to keep pace with rapidly expanding supply pipelines and rising demand.

In Nigeria, repeated nationwide grid collapses as recently as February 2026 underscore the fragility of aging transmission infrastructure. In East Africa, tower failures along the 428 km Loiyangalani-Suswa line temporarily stranded output from Lake Turkana Wind Power – Africa’s largest wind installation. Meanwhile, demand growth pressures are accelerating across North Africa, where electricity consumption is expected to rise by around 50% by 2035, driven by urbanization, desalination projects, and climate-related temperature increases.

Despite these constraints, generation investment continues to accelerate across Africa, particularly in renewables, gas-to-power and hybrid systems. However, without equivalent investment in transmission and interconnection, much of this new capacity risks being underutilized or stranded. This growing imbalance between generation and grid capacity is driving a sharper focus on system-wide planning and regional market design – issues that will be central to the newly launched Power Africa Today conference at African Energy Week 2026. The platform will bring together policymakers, utilities, investors and developers to explore how regional interconnection, cross-border trading frameworks and financing structures can better align generation growth with grid expansion.

Power Markets Experiment with Reform

Alongside infrastructure challenges, Africa’s electricity sector is undergoing gradual – but uneven – market reform. Most countries still operate vertically integrated systems dominated by state utilities, but a growing number are introducing competitive frameworks to attract private capital and improve efficiency.

Zimbabwe opened its electricity market to full private participation across generation, transmission and distribution in 2025, targeting $9 billion in new investment. South Africa is advancing one of the continent’s most ambitious grid expansion programs, with plans for 14,500 km of new transmission lines and 133,000 MVA of transformer capacity by 2034, alongside mechanisms designed to crowd in private financing. Kenya, meanwhile, has introduced open access regulations enabling independent power producers to wheel electricity directly to multiple off-takers, reshaping how generation assets interface with the grid.

Interconnected electricity markets are the foundation of Africa’s industrial future

Regional Integration Remains Fragmented

Efforts to connect Africa’s fragmented power systems are progressing, though at different speeds across regions. In Southern Africa, the World Bank’s RETRADE SAPP program, approved in 2025, is deploying $12 million to strengthen renewable integration and transmission capacity across 12 member states. In East Africa, the Ethiopia–Kenya–Tanzania Electricity Highway is now in trial operations at up to 2,000 MW, marking a significant step toward a more interconnected regional grid.

West Africa is also moving toward deeper integration, with permanent synchronization of the West Africa Power Pool expected in 2026. Analysts, including the African Finance Corporation, argue that such synchronization is critical to unlocking large-scale hydropower potential and industrial demand across the region. Longer term, full synchronization between the Eastern and Southern African power pools – targeted for the end of 2026 – could create one of the world’s largest cross-border electricity trading corridors.

Building Bankable Financial Architectures

While interconnection is advancing, infrastructure alone is not enough to create investable electricity markets. Investors consistently cite the lack of standardized offtake structures, creditworthy counterparties, and cross-border payment guarantees as key barriers to scaling capital deployment.

New models are emerging to address these constraints. Africa GreenCo, operating across Zambia, Namibia and South Africa, is helping to aggregate independent power producers under a single creditworthy intermediary, standardizing power purchase agreements and reducing counterparty risk. At a broader level, AUDA-NEPAD estimates that Africa requires around $30 billion in additional investment to complete priority transmission corridors and establish three fully interconnected regional trading blocs by 2030.

“Interconnected electricity markets are the foundation of Africa’s industrial future,” said NJ Ayuk, Executive Chairman of the African Energy Chamber. “The question at Africa Energy Week is not whether integration is possible – the evidence is already there. The question is which regulatory frameworks and financial structures will get projects to financial close, and which markets will be ready when capital is looking to move.”

The Power Africa Today conference will run alongside AEW 2026, taking place October 12–16 in Cape Town, and will focus on the regulatory, financial and infrastructural architecture needed to build interconnected electricity markets capable of attracting institutional capital and delivering reliable, cross-border power at scale.

Distributed by APO Group on behalf of African Energy Chamber.

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African Development Bank Group and La Francophonie Sign Partnership Agreement to Promote Youth Employment in Francophone Africa

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The agreement was signed during a meeting between the Secretary General of La Francophonie, Louise Mushikiwabo, and African Development Bank Group President, Dr Sidi Ould Tah in Paris, France

PARIS, France, June 25, 2026/APO Group/ –The African Development Bank Group (www.AfDB.org) and The International Organization of La Francophonie (OIF) on Wednesday entered a strategic partnership to strengthen digital skills, employability, and entrepreneurship of young people and women in five African countries: Benin, Cameroon, Guinea, the Democratic Republic of the Congo and Madagascar.

 

The agreement was signed during a meeting between the Secretary General of La Francophonie, Louise Mushikiwabo, and African Development Bank Group President, Dr Sidi Ould Tah in Paris, France. The agreement will address a major challenge faced by countries in the Francophone world and across Africa: providing young people with access to opportunities offered by the digital economy and fostering the emergence of a new generation of entrepreneurs.

The partnership calls for the implementation of training programs in digital professions and entrepreneurship, in fields such as web and mobile development, cybersecurity, artificial intelligence, and data analysis. Participants will also receive guidance toward employment and self-employment, as well as support for innovation and business creation, notably through training camps, prototyping activities, and partnerships with incubators and accelerators.

The African Development Bank Group and OIF will also work with national authorities in these five countries and training institutions to sustainably strengthen local capacities and promote ownership of the programs by national stakeholders. An initial pilot phase, lasting 12 to 24 months, will be rolled out in the five partner countries, followed by a gradual expansion to other member states depending on the results achieved.

The African Development Bank Group is pursuing a bold agenda based on “Four Cardinal Points” developed by Dr Ould Tah, the third of which is ‘Turning Demographics into a Dividend.’ This is about strategically converting Africa’s rapidly growing and youthful population into a decisive engine of inclusive growth, productivity, and innovation through large-scale investment in human capital—particularly youth and women.

 

It sees Africa’s growing young population not as a risk, but as a major asset. With the right policies and investments, this potential can create jobs, help small businesses grow, bring more informal businesses into the formal economy, and equip young people with the skills needed for the future. By investing more in education, science and technology, vocational training, entrepreneurship, finance, and digital tools, Africa can help its people drive economic transformation, stay competitive, and build lasting, resilient growth.

The OIF said the agreement marked the first concrete step in its initiative to mobilize innovative and additional funding for its most impactful projects.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

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Paddles up! Hong Kong marks 50 Years of international dragon boat thrills

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Hong Kong

HONG KONG SAR – Media OutReach Newswire – 25 June 2026 – With top teams from around the world gearing up for the hotly contested Hong Kong International Dragon Boat Races this weekend (June 27-28), participants and spectators can expect a bumper programme of action, fun and entertainment along the Victoria Harbour waterfront in Tsim Sha Tsui – one of the city’s most vibrant districts known for its iconic skyline views and tourist attractions.

There is much to celebrate. This year marks the 50th anniversary of the Hong Kong International Dragon Boat Races as well as 35th anniversary of both the co-organiser, Hong Kong China Dragon Boat Association, and the sanctioning body, International Dragon Boat Federation (IDBF). The IDBF added to the occasion by announcing earlier this year the relocation of its headquarters back to Hong Kong.

Riding on the wave of excitement, the organiser, Hong Kong Tourism Board (HKTB), extended the annual Hong Kong International Dragon Boat Festival period to 13 days (June 19 – July 1), beginning on the historic Tuen Ng Festival (Dragon Boat Festival) and concluding on July 1, which is the 29th anniversary of the Establishment of the Hong Kong Special Administrative Region (HKSAR).

As the headline international flagship event of “Hong Kong Summer Fun”, Dr Peter Lam, Chairman of the HKTB, said the Festival not only ran over a longer period, but also featured a stronger race line-up and more vibrant entertainment programmes than in previous years, offering an experience found only in Hong Kong for locals and visitors, while showcasing Hong Kong’s position as the Events Capital of Asia.

More than 220 teams from 16 countries and regions will compete for top honours in the world‑renowned setting of Victoria Harbour. This year’s event also introduces the special 50th Anniversary Fishermen Invitational Cup and the 50th Anniversary Championship, paying tribute to the traditional spirit of dragon boat racing.

Visitors will be able to enjoy a series of thematic activities along the Avenue of Stars, including a 22-metre traditional wooden dragon boat, a dragon boat-themed installation in collaboration with the new film Minions & Monsters, live music performances and a line-up of intangible cultural heritage performances, including martial art Wing Chun, Chinese juggling diabolo, traditional musical instruments ruan and guzheng.

Highlighting Hong Kong’s reputation as the birthplace of modern international dragon boat racing, as well as its strengths as a global hub city, the IDBF has taken a significant step in its long‑term global strategy with the formal incorporation of International Dragon Boat Federation Limited in Hong Kong on 29 April 2026.

“Incorporation in Hong Kong is not a conclusion, but a beginning. It anchors our Federation in the city where our international story started and strengthens our ability to serve our members and the global dragon boat family,” said Claudio Schermi, President of the IDBF.

As part of this new chapter, the IDBF has applied for funding under “the Pilot Scheme to Strengthen the Presence of Hong Kong in Asian and International Sports Associations”, which was recently introduced by the HKSAR Government’s Culture, Sports and Tourism Bureau. The Pilot Scheme is an initiative designed to support Asian and international sports associations establishing their headquarters or regional headquarters in the city.

The Dragon Boat Festival has a long and colourful history dating back more than two thousand years. Held each year on the fifth day of the fifth lunar month, the day commemorates the patriotic poet Qu Yuan.

According to legend, Qu committed suicide for his beliefs by throwing himself into the Luo River. The villagers nearby raced out on their dragon boats, banging gongs and drums to scare away fish and other underwater creatures to stop them from eating Qu’s body. The tradition continues to this day, with dragon boat competitions taking place at locations across Hong Kong, each reflecting the unique characteristics of its neighbourhood.

Traditional dragon boat treats feature prominently during the festival, notably zongzi. These glutinous rice dumplings, traditionally wrapped in bamboo leaves and steamed or boiled, are widely available during the festive period.

 

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