Mobile to become the most preferred medium for this form of investment by 2023.
This piece cites an S4M report, which states that drive-to store investments will represent 58% of the total worldwide advertising budget in 2019. The study predicts that investments in the format, which lead customers to physical stores, will be around €73 billion or 65% of total global ad budget.
The report said that the automotive sector leads drive-to-store investments, with spending reaching €15 billion in 2018. The growing number of in-store visits, sales and other impact driven by digital advertisements are making retailers invest more in the format.
The study forecasts that by 2023, digital mediums will lead the majority of drive-to-store advertising investments. This piece also states that mobile is expected to be the most preferred medium with drive-to-store investments reaching 26% of global mobile ad spend in 2023.
[4 minute read]