Retail media is quickly becoming one of the most popular channels for media spending, with the expectation that it will surpass TV advertising spend for US consumer packaged goods companies within the next three years.
What Is Retail Media?
Retail media is a form of digital retail marketing that enables brands to advertise on retail websites and apps. It’s a powerful way to connect with customers by delivering targeted messages in an engaging format.
With retail media, brands can deliver ads directly to shoppers while browsing the web or shopping online.
This means that marketers can target the right customers in the right place at the right time. This helps to optimize their campaigns and get better results without investing a lot of time or money in creating campaigns.
And to achieve this, marketers need Mediatool. As a platform, Mediatool is uniquely positioned to help brands and agencies make the most of retail media.
With its robust suite of tools, Mediatool provides marketers visibility and control over their campaigns. By providing insights into the performance of campaigns, Mediatool helps marketers refine their marketing strategy for maximum results.
Retail Media is One of the Fastest-Growing Channels for Media Spend
Retail media is one of the fastest-growing media spend channels, and it is expected to surpass TV adspend for US consumer packaged goods corporations over the next several years.
- Retail media already represents 11% of global ad spending, and forecasts that this figure will grow 60% by 2027.
- Retail media ad spending at $101 billion in 2022 and projects it will rise to $160 billion by 2027.
- Amazon is already the third-largest ad platform in the USA, at 13% of digital ad spend in 2021, and is expected to rise to 15% by 2024.
This fast pace is starting to turn heads as French retailer Carrefour partners with Publicis Groupe to provide brands with a retail media platform.
As the world anticipates the end of third-party cookies, new strategies are taking form. Many companies are facing challenges reaching customers with targeted marketing campaigns, but thanks to retail media, companies are able to leverage retailers’ existing relationships with customers to help facilitate greater targeting thanks to retailer data.
Retail Media Market Shakeup: Publicis and Carrefour Joint Venture
In an effort to capture a larger share of the retail media market, Publicis Groupe and Carrefour have joined forces to provide customers with a comprehensive platform that offers data solutions and inventory management services.
This new joint venture will leverage Publicis and Carrefour’s existing relationships with its retailers to deliver highly targeted marketing campaigns for consumer packaged goods companies. By using a combination of data and insights, the partnership will be able to create personalized experiences tailored to the unique needs of each customer.
It is also expected that the new venture will drive increased growth, efficiency, and ROI for retailers and advertisers alike in Continental Europe, Brazil, and Argentina.
New Opportunities for Marketers
In addition to providing a comprehensive platform of services tailored to the needs of individual customers, this joint venture will also foster innovative collaborations between Publicis Groupe and Carrefour, allowing them to develop new retail media and data solutions that are tailored specifically for the European market.
Ultimately, this alliance promises to open up unprecedented opportunities for retailers and advertisers in the retail media space and will revolutionize the way businesses reach their target audience.
Retail Media Networks
When it comes to retail media, there are various networks available for brands to choose from. Some of the most popular networks include:
Amazon Advertising provides marketers with access to Amazon’s massive customer base, allowing them to promote their products directly to shoppers. With various ad formats and targeting options, Amazon Advertising will enable brands to create campaigns tailored specifically for the platform.
Everyone knows Amazon is an absolute behemoth in retail, and Amazon Advertising is on track to be just as successful. It doesn’t hurt that it’s backed by the endless coffers of Amazon and co.
When using Amazon Advertising, you can access several different options, such as display ads, sponsored products, and product listing ads. These allow you to target potential customers based on search queries, shopping behavior, and other criteria.
The second-largest retail media advertising network behind Amazon, Walmart Connect offers access to a huge customer base. With more than 240 million customers worldwide, Walmart’s retail media platform allows brands and agencies to target shoppers with hyper-relevant ads based on their purchase history and preferences.
Walmart Connect’s retail media network gives advertisers tools that enable them to create campaigns tailored to their customers’ individual needs. This helps brands and agencies maximize the impact of their campaigns while minimizing the cost.
Some of the offerings include:
- Targeted ads based on customer purchase history and preferences
- Ability to segment audiences for highly targeted campaigns
- Automated bidding system to ensure maximum ROI
- A/B testing capabilities to optimize campaigns
Walmart Connect is an excellent option if your business needs to reach a large audience quickly and efficiently.
Roundel is Target’s retail media network, offering brands and agencies a range of creative solutions for retail advertising on Target’s properties. The tools offered by Roundel make it easy for brands to create and manage campaigns optimized for Target’s audience.
For example, Roundel offers a suite of creative tools that allow brands to customize their campaigns for maximum impact. Additionally, Roundel provides detailed insights into the performance of campaigns, allowing marketers to refine their strategies and optimize their campaigns for better results.
What’s more, you can run display ads on Target’s properties and any of its 150+ retail partners, giving you a wide range of options—and reach.
Taking it a step further, Roundel’s CTV gives you even more access, enabling you to take advantage of TV advertising on some of the top streaming platforms, including Discovery and the Food Network, among others.
If you want to try your hand at traditional media advertising, Roundel is a great place to start. It offers the kind of retail media solutions that might be an excellent fit for your brand.
This is Home Depot’s in-house retail media platform, designed to help brands and agencies reach customers in the home improvement space. So if your business is in that space, Media+ is a great option.
This is especially true when you look at the numbers Home Depot reports to visit its online store every year—more than 2.2 billion! That leaves room for many potential customers, which is why it’s important to ensure your campaigns are optimized for success.
To help you with your retail advertising campaign, Media+ offers users essential tools like onsite, offsite, and email advertising. With these tools at your disposal, you can create highly-targeted campaigns tailored to your audience and goals.
Wayfair is an e-commerce company that offers a wide range of products for the home. Wayfair’s retail media network gives brands access to over 72 million unique shoppers every month.
With that kind of reach, brands can ensure that the right audience sees their ads. Plus, Wayfair’s platform makes it easy to track and measure the performance of campaigns so that marketers can optimize as needed.
If your business model frequently uses retail media platforms like Wayfair or Wayfair specifically, this is the one you want to check out. It gives you everything you need and more to help you get the most out of your retail media campaigns.
Kroger’s retail media network provides brands access to its stores, including Kroger and affiliated retailers. Brands can use this network to create campaigns tailored to their specific audience and goals.
Moreover, Kroger uses PromoteIQ to manage its retail media campaigns. This allows marketers to create and track ads that reach shoppers when they are in-store or online.
While largely focused on food and grocery products, Kroger’s network also offers opportunities for other types of products, so it’s worth checking out if you’re looking for a retail media network in your niche.
With installments in nearly 6,000 cities and based in over 750 stores, Instacart is one of the largest grocery delivery services in the US. It offers brands access to many customers, including millennials and Gen Zers.
As an online-only retail media platform, Instacart provides brands a great way to target customers who are already shopping online.
Granted, it’s best suited for businesses targeting a specific group of shoppers. But if you want to reach out to customers who are already shopping online with consumer packaged goods companies, then Instacart is the right media channel for you.
Before there was Amazon, there was eBay. Well, technically, Amazon came out a few months earlier than eBay, but eBay shot to the top sooner and gained a massive global following. And it remains a popular choice for marketers looking to reach shoppers worldwide.
Like all other businesses, eBay eventually felt the mighty weight of Amazon’s power. But that didn’t stop eBay from adapting to the changing online climate.
In fact, eBay would enjoy considerable growth in 2020, thanks to its strategic partnerships and its focus on retail marketing strategy (the pandemic didn’t hurt, either).
No matter your business niche, there’s likely a home for it on eBay. So if you’re looking to target shoppers worldwide, eBay should be at the top of your list.
Best Buy is another retail giant offering a powerful media platform for its product niche. It offers various features such as advanced targeting and personalization, real-time analytics, audience insights, and more. Brands can also take advantage of the retailer’s vast reach to target consumers across its expansive media channel.
There will always be a space for electronics, and Best Buy has a respectable grasp on that market. What’s more, competition in this space isn’t as fierce as in other retail media channels. Best Buy could be a great option to explore if you’re looking to target electronics buyers.
Retail Media Shows Potential
The retail media opportunity is gaining momentum, and more marketers are realizing the potential of leveraging retailers’ existing relationships to deliver targeted marketing campaigns. That’s why groups like Publicis and Carrefour have formed a joint venture to explore new ways to leverage retail media and create more personalized experiences for customers.
If you wish to improve your own marketing campaign efforts, be sure to use Mediatool to gain access to the very best in retail media technology.
Mediatool will help you reach customers more effectively and efficiently than ever before, with features like impactful campaign creation, actionable insight leveraging, and powerful optimization tools. The possibilities are endless, and you can be sure your campaigns will make a huge impact for your business.