Retail media: These are the insights you need to know
Brands, companies, and online stores are restructuring their marketing and opting for retail media. Read our guide to find out which retail media strategies are being implemented and which trends are emerging.
Why retail media is the top marketing topic
The COVID-19 pandemic has accelerated a trend that has been developing over many years: customers are shopping online. The strong growth in e-commerce is forcing retailers to keep up with their customers’ needs. The imminent end of third-party cookies is also prompting a rethink; the solution is to use digital ads to collect first-party data, which is primarily available from established marketplace operators and shopping platforms. If you browse a shopping site, your searches, the products you choose, and what you end up buying reveal a lot of valuable data that brands need to target their target group. Online retailers can offer brands marketing spots and optimize the customer experience on their platform. No wonder that retail media is absolutely booming.
Media network Zenith estimates that the global retail media market will reach 143 billion U.S. dollars by 2024, compared to 77 billion U.S. dollars in 2021.
Retail media: Many companies are still dragging their heels
Placing ads on retailer websites is not a new marketing measure, but using them to collect important customer data, which can then be used strategically to shape the entire sales funnel right through to conversions, is something that will pay off in the long term for brands. That will only be a complete success, however, if brands and retailers develop a good working relationship. Many companies also do not see the use of investing in technologies that can handle the nitty gritty of advertising, despite the benefits it can deliver. Engaging with retail media can pay huge dividends for both parties.
Forging new marketing paths with retail media
Retail media is only in its infancy, and that makes it all the more important for brands and retailers to familiarize themselves with the opportunities of digital advertising marketing and make sure they are ready for the future. Our free guide gives you a comprehensive overview of the following aspects:
- Which retail media to-dos should brands and retailers be aware of?
- Retail media initiative: How the BVDW would like to implement retail media standards.
- Retail media insights and learnings from major brands, including Otto, Peek & Cloppenburg KG, and the MediaMarktSaturn Group.
- How can retail media boost the use of valuable data?
- The future of retail media: What is in store for marketers?
