Alison O’Keefe, General Manager of Retail Partnerships, AdAdapted chats about a few top evolving trends in retail media with SalesTechStar.
As Retail Media Networks continue to grow, more marketing budgets are shifting away from higher funnel brand marketing to shopper marketing. Retailers have a great value proposition to the marketplace — 1P purchase data, close loop measurement, access to eCommerce sites and digital wallets. They can help CPGs influence their customers at the point of purchase, which drives results.
Over the last few years, as retailers have grown their RMNs, most are beginning to hit a ceiling with their onsite inventory. This isn’t surprising, as customers only spend a fraction of their time on retailer sites/apps. The real growth opportunity is capturing a higher share of the billions of dollars that flow through off-property media. This can be challenging for Retail Media Networks, given that many suppliers aren’t seeing the incremental return they expect or want from their low funnel partners.