The increasing acceleration in eCommerce has given way to a new revenue stream for top retailers as well as a captive outlet for brands to reach people when they are ready to buy. Retail Media involves retailers monetizing space on their digital and mobile platforms that is dedicated to 'sponsored' placements. These native ad units allow brands to pay up for increased visibility on retail sites. Why is this important? First off, consumers are visiting retail sites (Amazon, best buy, target) to begin their search more often as opposed to defaulting to a search on Google. Second, it's a win/win for retailers as brand dollars are brought in to help support overall marketing budgets for the retailer. Third, this retailer-brand ecosystem allows for a unique system of measurement and attribution that allows brands to get more granular, product-level insights directly from the retailer they sell through. In my own experience working with retail media, there is a certain level of flexibility when it comes to advertising on retailer websites that you can't necessarily get through traditional digital marketing channels. Being able to promote specific products as opposed to brands or categories gives the retailer greater control over their SKU's and brands greater flexibility over what they are pushing to the market.
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