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Growth predicted for search advertising

A 2023 focus on search advertising and retail media

Advertisers and marketers in Western Europe will increase their reliance on search ads and retail media 2023 as high prices force consumers to buckle down on expenditures and focus on necessities, marketing research firm Insider Intelligence says in a forecast.

In Western Europe, digital ad spending will go up 8.9% in 2023, the company forecasts. Search spending will top that at 9.2%.

“Across Europe, search will claim a higher share of digital ad spending in 2023 than in other regions.”

The forecast says advertisers will scrutinize their budgets in exhausting detail amid fears of recession. 

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“Brands will have to justify pricing and deter shoppers from trading down, which means rethinking pack sizes, loyalty discounts, or product improvements to maintain price premiums.”

Bargain hunters seeking deals will go to search engines. Our forecast calls for search spending to rise faster than total digital ad spending.”

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