Despite facing sluggish sales and economic challenges, Target's advertising business, Roundel, has shown strong growth. In the first quarter of this year, Roundel generated $163 million in ad revenue, a notable increase from $130 million in the same period last year. Total ad revenue for last year reached $649 million, marking a 25% growth year-over-year. With advertisers focusing on retail media networks that leverage first-party data, Roundel's performance remains a bright spot for Target, insulating it from struggles in other sectors of the business.
"The audience data that Target can turn out is still highly effective and allows us to reach really key in-market shoppers... If it's working, they're going to put more money in."
"Roundel's growth trajectory speaks to retail media as the industry's current golden child, in which marketers are expected to shell out $62.35 billion on the channel this year."
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