It's not hard to find figures highlighting the promise offered by the retail media channel. At the end of last year, an IAB / Microsoft survey forecasted that the market will increase to $25bn by 2026. And GroupM's mid-year report predicted that retail media would account for $125.7bn in global ad spend by the end of 2023 and exceed TV advertising by 2028.
This has led to second-party data partnerships, facilitated by data 'clean rooms', in which consumer data can be shared anonymously. Retailers have insight on factors such as the age of consumers, the items they look at, what they eventually buy, how often they shop, and whether they make repeat purchases. Reconciling retailer and brand databases can build a more complete view of the individual consumer, enabling better segmentation and more accurate targeting for ads and promotions.
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