Retail media networks (RMNs) are on the rise, with over 250 platforms vying for advertising dollars globally. Recent rebranding efforts, such as The Home Depot's transformation of Retail Media+ to Orange Apron Media, exemplify RMNs' desire to be perceived as comprehensive media networks. Additionally, the integration of off-site advertising and creator collaborations indicates a move away from solely relying on first-party data. With an anticipated $63 billion in U.S. retail media ad spend, the competition intensifies, pushing retailers to innovate and expand their market presence significantly.
Retail media networks are evolving, with over 250 currently competing for advertising dollars and rebranding to enhance their market presence.
Retailers are expanding beyond traditional ad formats, targeting brand awareness and integrating creators and streaming services into their offerings.
The $63 billion retail media ad spend projected for this year indicates a maturing RMN ecosystem requiring more than just first-party data to succeed.
Major retailers like The Home Depot and Lowe's are rebranding their networks, while Walmart and Target focus on influencer-led campaigns to attract ad budgets.
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