The affiliate marketing industry has experienced significant growth over the past decade, driven by the rise of e-commerce and the increasing use of the internet as a platform for marketing and advertising. According to a report by the Performance Marketing Association, the industry was worth $12 billion in the US in 2016 and is projected to reach $6.8 billion by 2020 (1).
One of the main factors driving the growth of affiliate marketing is the increasing popularity of e-commerce. As more consumers turn to the internet to shop for goods and services, businesses are using affiliate marketing to reach and engage with these consumers (2). This has led to an increase in the number of affiliates and the amount of money being spent on affiliate marketing.
Another factor contributing to the growth of the industry is the rise of mobile devices and the increasing use of mobile apps for shopping and advertising. As more people use their smartphones and tablets to browse the internet and make purchases, affiliate marketing is becoming an important way for businesses to reach these mobile users (3).
In addition to e-commerce and mobile technology, the growth of social media has also played a role in the expansion of the affiliate marketing industry. Social media platforms such as Facebook, Instagram, and Pinterest have become important channels for affiliates to promote products and services, and businesses are increasingly using these platforms to run affiliate marketing campaigns (4).
Overall, the affiliate marketing industry has experienced significant growth over the past 10 years, and it is likely to continue to grow in the coming years as e-commerce and mobile technology continue to evolve.
References:
- “2017 Industry Overview.” Performance Marketing Association. https://thepma.org/2017-industry-overview/.
- “E-commerce and the Growth of Affiliate Marketing.” Affiliate Summit. https://www.affiliatesummit.com/blog/e-commerce-and-the-growth-of-affiliate-marketing/.
- “The Impact of Mobile Technology on Affiliate Marketing.” Forbes. https://www.forbes.com/sites/forbesagencycouncil/2017/07/14/the-impact-of-mobile-technology-on-affiliate-marketing/?sh=5e6d5c8f5d1b.
- “The Role of Social Media in Affiliate Marketing.” Affiliate Summit. https://www.affiliatesummit.com/blog/the-role-of-social-media-in-affiliate-marketing/.