Advertising Week
Jul 21, 2022
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Retail advertising networks are taking off, with advertisers tapping into retailers’ owned on-site or in-app inventory to reach engaged audiences at the point of sale and boost conversions.
It has been predicted that digital retail media advertising will exceed $41 billion this year, demonstrating how it is becoming an essential part of omnichannel marketing strategies. In addition, retailers, who are increasingly realizing their value to advertisers, have begun establishing their own demand-side platforms (DSPs) to offer their inventory to brands, making it easier than ever for marketers to get involved.
But there’s even more significant potential for retailers to expand their monetization opportunities beyond their owned and operated inventory. By forging powerful partnerships with media companies that work on the open web, retailers can offer brands a greater scale while expanding their reach and audience knowledge.
So what makes retail media networks so valuable to advertisers and how can media companies enhance this relationship further so both parties can achieve their respective goals?