Alibaba and Amazon are the world's third- and fourth-largest advertising businesses following a surge in brand's trying to capture online shoppers, according to the latest Global Advertising Trends report from WARC Data.
Brands are expected to spend $58.5bn this year advertising across e-commerce platforms like Amazon and Tmall, omnichannel retailers like Walmart and Carrefour and social commerce on platforms such as Pinduoduo and TikTok.
This represents year-on-year growth of 18.3%, a rate of growth 30 times faster than the wider online ad market and in stark contrast to an expected 8.1% decline in total ad investment.
The latest...