Digital AdBoom in the CPG Industry

MUMBAI, India - May 14, 2024 - PRLog -- Why we are saying so?

US CPG companies spent a whopping $43 billion on digital advertising in 2023. That's a staggering 2.2x increase in the past five years, with a compound annual growth rate (CAGR)of 17%. This means the CPG industry alone now accounts for a significant 16% of all-digital ad spending nationwide.

The dominance of the Food Industry in AdSpend
Within CPG, the food industry reigns supreme, capturing 35% of the digital ad spend pie. Following closely behind are toiletries and cosmetics (31%) and non-alcoholic beverages (14%)

The Mobile Advertising

CPG companies are channelling a hefty 70% of their ad budget towards mobile advertising. This strategic move leverages the impulse buying behaviour of consumers on their smartphones

What is the right Ad format?
Display ads emerge as the primary choice for CPG advertisers, claiming 57% of the
budget, closely followed by video ads at 33%.
This preference underscores the emphasis on captivating visual content to resonate with audiences and spark engagement

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