Meta has been revealed as the 2022 advertising platform of choice for UK online retailers, according to financial ecommerce platform Juni.
Data has revealed that 65% of UK ecommerce ad spend went on Meta-owned networks Facebook and Instagram. Google also shared 22.9% of the online retail ad spend of this year, with TikTok bagging 4.3%.
In spite of Meta’s success however, Facebook and Instagram’s dominance has faded over the year, decreasing from 70.5% in January to 60.9% in November.
The short-form video sharing app TikTok has displaced the likes of Amazon (1.4%), Pinterest (0.5%) and Snap (0.4%), to become the UK’s third most popular platform for ecommerce ad spend.
Google has also witnessed a resurgence, climbing from 16.4% of the market share to 25% in November.
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“While the rise of Retail Media Networks launched by the likes of Asda, Boots and Tesco are predicted to revolutionise the UK advertising landscape, Juni’s data shows that social media platforms still play a key part in the overall campaign mix,” Juni added.
With regards to the festive gifting season, the financial ecommerce platform predicts that Christmas ad investment in December will be above that of November’s. Currently, the leading platforms for December ad spend are Meta (68%), Google(28%) and TikTok (1.8%).
“In early 2022, we launched credit to help UK ecommerce companies fund ad campaigns to unlock revenue growth. We’re seeing high levels of ad spend across our platform, with our data showing where and when online retailers are choosing to invest their marketing budgets, ” Juni CEO and co-founder Samir El-Sabini, said.
“It’s clear that companies have been testing what the best platforms are for them during certain key retail moments. As we enter 2023 amid a challenging economic climate, where businesses choose to spend their marketing budget will be brought into even sharper focus. It will be important to become more selective than ever on brand and channel investments. To sustain growth next year, businesses will need to manage a balancing act of the right mix of online and offline marketing and distribution.”
