Walmart+ has been on a spending spree when it comes to advertising, surpassing its ad budget from the same period last year.
According to Insider Intelligence, Walmart+ has increased its advertising budget by a whopping 87% from January through September, compared to the previous year.
Instacart saw a significant 69% increase in ad spending, while Amazon Fresh only experienced a modest 3% rise. DoorDash and Thrive Market also boosted their ad budgets by 32% and 12%, respectively. However, Uber Eats went against the trend and reduced its spending by 32%.
Together, Walmart+, Instacart, and DoorDash spent a total of $458 million on advertising between January and September. This accounts for a staggering 79% of the overall ad spend in the grocery delivery services sector, as reported by advertising intelligence platform MediaRadar.
Insider Intelligence predicts that total digital ad spend in the United States will increase by 13.6% in 2024, reaching nearly $307 billion. Display advertising is expected to make up slightly over half of the total digital advertising, accounting for 56.2%.