The rise in retail media is one of the hottest topics in marketing today.
It’s no mystery that the pandemic has massively changed consumer behavior and usher in rampant digital transformation globally. One sector that seems to have benefited the most in these times is ecommerce. Where it used to be just one of many options we had when it came to making a purchase, ecommerce instead became the primary method of shopping.
Pandemic-related boosts in online shopping resulted in an additional $174.87 billion in ecommerce revenue for 2020, Digital Commerce 360 estimated. If it weren’t for the bump in online sales from the pandemic, the $861.12 billion in ecommerce sales wouldn’t have materialized until 2022. And with that comes a related increase in spending by brands advertising on those same sites.
In fact, 76 percent of brand marketers now agree that “growth of [their] business depends on retail media advertising.”
So what are the opportunities for brands who invest in retail media?
Our panel consisting of COTY’s Kelsie Johnston, CAVU’s John Denny, Salsify’s Molly Schonthal, and Firstmovr’s Chris Perry, dissect and examine various aspects and impacts of retail media, from media value and online sales to partner value and CPA Efficiency to name a few.
Watch the panel discussion above to hear exclusive insights on:
1:00 – Growth of Digital vs Retail Media spending
2:43 – What are the impacts of retail ad platform spending?
5:54 – Online Sales
6:20 – Offline Sales
7:04 – Digital Visibility
7:50 – Office Placement
8:29 – CPA Efficiency
13:36 – Which impact of retail media do you believe is most important?
24:03 – What are the barriers to brands investing more in retail ad platforms today?
33:40 – What specific measurement barriers exist?
44:26 – Which barriers have you seen able to be overcome and how?
48:30 – Which barriers still remain and what is needed to overcome?