Six secrets of unleashing the power of retail media
Retail media networks are booming, but increasing innovation is spurring competition. Here’s how to unlock the true potential of retail media.
The $45 billion US retail media market is surging as retailers capitalize on the consumer shift to e-commerce while offering advertisers access to their unique audiences and data insights.1 Yet capturing advertising spending as a retail media network (RMN) is far from guaranteed. Advertisers are spoiled for choice across the RMN landscape, and the number of RMNs is growing by the day. The question is which RMNs will raise the bar to meet the needs of the sophisticated modern marketer.
We have previously busted myths about RMNs and looked at ways Europe’s retail media landscape can evolve.2 In this rapidly changing environment, our latest research on the US market provides a fresh view on the secrets of RMN success, including understanding the following:
- why demand for RMNs is increasing
- how advertisers are shopping around
- elements of a winning value proposition for RMNs
- what channels advertisers are prioritizing for RMN investment
- add-on features that drive a premium
- advertiser pain points to address
Even as companies cut marketing budgets and hunker down amid economic uncertainty, RMNs attract a larger share of the advertising pie. But retaining that spend and growing it further requires understanding and addressing what advertisers want and need before they go elsewhere.
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