"Retail media is changing the advertising game across all sectors - and that's why many brands are planning to put more money behind such networks in the coming quarters. Earlier this fall, Digiday, Modern Retail and Glossy hosted the Retail Media Advertising Strategies event in New York City to go over the challenges and opportunities brands are seeing in the booming business."
"Modern Retail+ conducted a survey of 22 brands as part of the event and found that a majority are planning to increase their spending next year. In addition, brands are showing an appetite for trying out multiple networks as new opportunities crop up. For retailers, retail media networks are becoming a critical source of revenue. Walmart, for instance, has said that about a third of its profits last year came from selling ads."
Retail media networks are attracting rising brand advertising budgets as companies seek to reach and grow customers via retailer-owned ad channels. A surveyed group of brands indicates most plan to increase spending next year and many are experimenting across multiple retail networks. Retailers are monetizing shopper traffic, with large players contributing significant ad-driven profits. More than 200 retailers now operate media networks, and major e-commerce retailers capture substantial brand investment. Some brands favor smaller or scrappier networks for closer collaboration, while a notable share of advertisers work with ten or more networks to compare performance.
Read at Digiday
Unable to calculate read time
Collection
[
|
...
]