Retail media is traditionally dominated by, well, retailers. But as access to customer insights becomes increasingly important for advertisers amid cookie deprecation and mounting privacy laws, other industries are hopping on retail media’s bandwagon.
When retailers allow non-endemic brands to advertise, it benefits both sides. “Retailers can further monetize their data, while non-endemics, who have an appetite to expand their reach, are able to leverage that data,” our analyst Sarah Marzano said on an episode of the “Behind the Numbers: Reimagining Retail” podcast. Here’s why major retail media players such as Walmart and Home Depot have recently opened up their offerings, along with three best practices to boost performance.
Merchants must ensure that customers can use their preferred payment method.
Hallmark aims to bring its Hallmark movie town square to life: The company’s “Hallmark Christmas Experience” will feature event-exclusive Hallmark products with ticketed experiences.
Loyalty programs are becoming a bigger part of the retail landscape: Gatorade is the latest brand to use rewards to build loyalty (and acquire valuable customer data).
Dupe culture goes mainstream: Target and e.l.f. Beauty are among the companies benefiting from Gen Zers’ affinity for cheaper versions of premium products.
Can Apple entice hesitant consumers with a thinner iPhone? Smartphone buyers have been unimpressed with recent models. A flashy feature is a smart move if priced right.
Red Lobster files for bankruptcy after disastrous Endless Shrimp promotion: The company is closing restaurants and pulling back on promotions as it tries to turn its business around.
Gen Z spends significantly on beauty products online while favoring in-store shopping for apparel. For groceries, this tech-savvy generation relies heavily on search engines and social media to discover new products. Additionally, the trend toward low- and no-alcohol beverages is gaining momentum, as many Gen Zers embrace initiatives like Dry January.
Nearly three-quarters (72%) of retail marketers worldwide plan to increase their advertising spend on social platforms, according to a November 2023 survey by TechValidate as reported by Mediaocean.
The (again delayed) deprecation of third-party cookies and Apple’s AppTrackingTransparency initiative have fueled an imperative for brands and retailers to home in on proprietary first-party and zero-party data.
As consumers made more payments than ever in 2023, new trends are emerging
The court’s decision will also likely help the agency as it ramps up other regulatory efforts in areas like open banking and AI
Retailers are cautiously optimistic as they look ahead to the holiday season: Imports are expected to be slightly higher YoY as companies bring in more mid-priced items.
China’s dismal housing market weighs heavily on consumer spending: Shoppers are keeping their spending close to the vest as most of their household wealth is tied up in real estate.
OpenAI loses key superalignment researchers: Upheaval at the genAI startup raises questions about safety and governance—pointing to Big Tech’s advantages in the AI race
A flurry of product and services launches will help Visa stay competitive and diversify away from swipe fee revenues
The network is betting on the long-term future of the technology in financial services and wants an early-mover advantage as it grows
Walmart’s market share gains continued in Q1 as the retailer emphasizes value and convenience: The company continues to draw in more high-income shoppers, while its advertising and marketplace offerings boost revenues.
Consumer groups accuse Temu of breaching the EU’s Digital Services Act: A complaint alleges that the retailer uses “manipulative techniques” to boost spending and fails to provide adequate product safety information.