With the evolution of #retailmedia, marketing strategies are progressing towards higher stages in the sales funnel, embracing fresh formats such as the open web, social media, and streaming TV. Through collaborative alliances with social media companies, streaming platforms, and publishers, retail media networks can effectively engage with consumers earlier in their purchasing journey, fostering brand awareness and recognition.
++ Top 5 Powerful Retail Media Partnerships of 2023 ++
Walmart & TikTok, @Roku, and Snap
Walmart Connect expanding its reach and better measure how social media and CTV ads influence consumers’ purchase decisions. Walmart’s digital ad revenue growth in the US is expected to surpass that of Google, Meta, and Amazon this year.
Kroger & Walt Disney
Kroger facilitates targeted audience engagement through streaming media.
PepsiCo will be the first advertiser to beta-test Hulu’s streaming content.
Within the CTV landscape, Hulu holds the leading position, surpassing YouTube, Roku, and Peacock by generating $3.63 billion in ad revenues in the US in 2023.
Lowe’s & Yahoo
Lowe’s Companies, Inc. collaborated with Yahoo to expand the inventory available to advertisers on its One Roof Media Network, including off-site media placements, and enhancing omnichannel experiences. Lowe’s is projected to achieve $11.06 billion in US retail eCommerce sales and moved up from the 13th position to the 12th.
Albertsons & OMG Omnicom Media Group
Albertsons Companies is focusing on capturing the CTV market with its collaboration with Omnicom Media Group. They are empowering brands to directly acquire CTV advertising within The Trade Desk platform and evaluate the ROI from their ad Purchases and enhancing the effectiveness of RMN with AI.
Dollar General & Meta
Dollar General has been the inaugural retailer to introduce Meta’s newly
developed closed-loop advertising solution, which allows advertisers to establish a connection between their campaigns and in-store sales. DGMN can engage with more than 90% of its customers through paid media, with an emphasis on rural areas.
++ Measurement Approaches for Brands to Unlock Incremental Growth from Retail Media ++
Retail Media Data Clean Rooms: Shared environments where retailers and brands can exchange data without compromising privacy.
Multi-Touch Attribution & Econometrics: Brands can identify the most effective channels and campaigns for driving incremental sales.
Sales Lift Analysis: Compare the sales performance of a group of customers who were exposed to a retail media campaign with the control group.
Customer Journey Mapping: Brands can identify the most important touchpoints in the customer journey and optimize their retail media campaigns accordingly.
