With the next wave of digital commerce already surging, your next channel play should be in retail media networks, says Bernd Bube, CEO and Founder of ADvendio, who offers 10 key considerations for retailers on getting started in monetising owned 1st party data and unlocking new revenue streams from retail media capabilities.
Article Highlights
- For the US’ largest retailer, Walmart, global retail media advertising revenue was worth $2.1 billion in 2021 according to Statista, and rose 30% to $2.7 billion in 2022. Insider Intelligence estimates that will grow to $4.52 billion by 2024, or 8.2% share of total US retail media digital ad spend.
- For the market as a whole, advertising group WPP recently estimated that retail media already represents 10.7% of global ad spending, and forecasts this will grow 60% by 2027.
- BCG reckons the market will grow by 25% per year to $100 billion over the next five years and will account for over 25% of total digital media spending by 2026.
- According to Skai, retail media delivers higher returns to advertisers than traditional media, with 61% more impressions and 12% lower costs per click.
Read the full article here: www.retailbulletin.com
