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Retail Platform Advertising - Norway

Norway
  • In Norway, ad spending in the Retail Platform Advertising market market is projected to reach US$474.60m in 2024.
  • Ad spending in Norway is expected to show an annual growth rate (CAGR 2024-2030) of 15.95%, resulting in a projected market volume of US$1.15bn by 2030.
  • The average ad spending per user in the Retail Platform Advertising market market in Norway is projected to amount to US$114.80 in 2024.
  • In global comparison, most ad spending will be generated the United States (US$57.63bn in 2024).
  • Norway's retail platform advertising market is increasingly prioritizing sustainability, reflecting the nation's commitment to environmental responsibility and consumer demand for ethical branding.

Definition:

Retail platform advertising (RPA) refers to digital ads displayed on websites and apps dedicated to retail platforms, such as Amazon, Walmart, eBay, Alibaba, and JD.com. This includes all types of advertising across various devices, e.g., PCs, smartphones, and tablets, and covers formats such as sponsored products, banners, and videos. RPA specifically excludes offline retail ads (e.g., in-store displays and billboards), off-site ads (e.g., ads appearing on non-retail websites or apps), ads on social media platforms (e.g., Facebook or Instagram), and ads on search engines (e.g., Google or Bing).

Additional Information:

It is important not to confuse RPA with retail media networks (RMNs). RMNs involve digital ads that are also displayed on retail e-commerce sites or apps, but these ads are purchased through a retailer’s media network or a demand-side platform (DSP). While RMNs include ads on sites such as Amazon and Walmart, they also cover ads bought through networks such as Amazon DSP, Walmart Connect, and Etsy’s Offsite Ads, and these ads may not necessarily appear directly on the retailer’s e-commerce site or app. Unlike RPA, RMNs represent a broader approach that encompasses a range of ad placements, both on and off the retailer’s own platforms.

In-Scope

  • Digital ads displayed on websites and apps dedicated to retail platforms
  • All types of advertising across various devices, e.g., PCs, smartphones, and tablets
  • All types of sponsored ad formats, such as sponsored products, banners, and videos

Out-Of-Scope

  • Offline retail ads (e.g., in-store displays and billboards)
  • Off-site ads (e.g., ads appearing on non-retail websites or apps)
  • Ads on social media platforms (e.g., Facebook or Instagram)
  • Ads on search engines (e.g., Google or Bing)
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Advertising: market data & analysis

Study Details

    Ad Spending

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Retail Platform Advertising Market in Norway is undergoing substantial growth, fueled by increased digitalization, heightened consumer engagement, and the effectiveness of targeted advertising strategies that enhance brand visibility and sales.

    Customer preferences:
    Consumers in Norway are increasingly gravitating towards sustainable and ethically sourced products, prompting retailers to emphasize eco-friendly practices in their advertising. This shift is underscored by a growing demographic of environmentally conscious younger buyers who prioritize brands aligning with their values. Additionally, as mobile shopping becomes more prevalent, personalized advertising strategies that leverage consumer data are gaining traction, enhancing engagement and driving conversions within this evolving retail landscape.

    Trends in the market:
    In Norway, the Retail Platform Advertising Market is witnessing a surge in personalized and targeted advertising strategies, driven by the increasing use of mobile shopping. Retailers are harnessing consumer data to create tailored marketing campaigns, enhancing customer engagement and conversion rates. Concurrently, the demand for sustainable and ethically produced goods is reshaping advertising narratives, with brands highlighting eco-friendly practices to resonate with a growing demographic of environmentally conscious consumers. This shift signifies a critical transition for industry stakeholders, compelling them to adapt their advertising approaches to align with evolving consumer values and preferences in a competitive retail landscape.

    Local special circumstances:
    In Norway, the Retail Platform Advertising Market is influenced by a blend of geographical, cultural, and regulatory factors that set it apart from other regions. The country's rugged terrain and scattered population encourage online shopping, making digital advertising essential for retailers. Culturally, Norwegians value transparency and sustainability, prompting brands to prioritize ethical advertising practices. Additionally, stringent regulations around consumer privacy require advertisers to balance personalized marketing with data protection, shaping how targeted campaigns are developed and deployed in this unique landscape.

    Underlying macroeconomic factors:
    The Retail Platform Advertising Market in Norway is significantly shaped by macroeconomic factors, including the overall economic climate and consumer spending trends. Norway's robust economy, characterized by high GDP per capita and low unemployment, supports strong retail growth and increased advertising investments. Global economic trends, such as the shift toward e-commerce and mobile shopping, further boost demand for digital advertising solutions. Additionally, fiscal policies promoting technological innovation and sustainability resonate with consumer preferences, encouraging brands to adopt ethical advertising practices. These elements collectively enhance market performance and drive competitiveness within the advertising landscape.

    Reach

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Methodology

    Data coverage:

    Data encompasses enterprises (B2B). Figures are based on Retail platform ad spending and exclude agency commissions, rebates, production costs, and taxes. The market covers advertising by businesses for digital advertisements.

    Modeling approach:

    Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party reports, and survey results from our primary research (e.g., Consumer Insights). Next, we use relevant key market indicators and data from country-specific associations, such as GDP, internet users, and digital consumer spending. This data helps us estimate the market size for each country individually.

    Forecasts:

    In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the S-curve function is well suited to forecast digital products due to the non-linear growth of technology adoption, whereas exponential trend smoothing (ETS) is more suited for projecting steady growth in traditional advertising markets.

    Additional notes:

    Data is modeled using current exchange rates. The impacts of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice per year. In some cases, the data is updated on an ad-hoc basis (e.g., when new relevant data has been released or significant changes within the market have an impact on the projected development).

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    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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