Retail media investments are booming, with eMarketer reporting over $140 billion in global ad spend. Major retailers like Target and Walmart are reaping significant benefits, as evidenced by Target's retail media revenue growing 25% and Walmart's by 27% in recent years. However, brands face internal conflict in managing these budgets, with tensions between marketing, media, sales, and commerce teams over who should oversee retail media budgets. Furthermore, a Forrester survey revealed that a significant portion of retail media spending derives from trade marketing and shopper marketing budgets, highlighting the complexities within these organizations.
Executive dysfunction is hindering brand advertisers' ability to effectively manage and allocate retail media investments, despite this segment experiencing rapid growth in ad spending.
Retail media is becoming a crucial revenue stream for retailers, with major brands struggling to navigate internal budgetary tensions across their marketing and sales teams.
Retail media investments are often fractured among different departments, creating a complex landscape as brands try to determine the right overseer for their budgets.
Industry sources indicate that retail media dysfunction is increasingly common, pointing to a lack of consensus on budget control among marketing, media, and sales teams.
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