Mumbai, Oct. 27 -- For the longest time, India's digital marketing industry has been dominated by two major rivals-Meta and Google. Most brands, large and small, cannot escape these two gated ecosystems for access to customers, their third-party data, and most importantly-their attention.

With over Rs.31,000 crore and Rs.22,000 crore in annual advertisement revenue, respectively, Google and Meta cumulatively represent more than Rs.50,000 crore of direct digital ad revenues; industry estimates place their dominance in this business at 70-90% of the total market share.

But slowly, the duopoly is breaking. Retail media-advertisements on e-commerce, quick commerce and other online retail platforms-are surging in India.

As e-commerce and qu...