Using customers' transaction data, brands and advertising agencies can "precisely target customers at scale based on purchase history."
"Like retailers, we have first-party data and a dedicated audience," said Rich Muhlstock, president of Chase Media Solutions.
Retail media networks like Chase Media Solutions enable retailers to sell ad space on their digital channels to external brands, boosted by the pandemic online shopping surge.
Bain & Company estimates retail media to be a $61 billion industry, doubling from 2021, with a 10% annual growth rate through 2026.
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