As retail media grows rapidly, advertisers are uncertain where to spend - DigiDay | The Marteq Alert | Scoop.it
Typically retail media networks pitch advertisers on access to first-party data (usually through a loyalty program) as well as the ability to close the loop on measurement and attribution if an ad converted to a sale. Aside from ads on the retailers’ digital properties, there’s also usually the ability to advertise in the retailers’ email or on its social channels. That the newer retail media networks’ offerings are so similar, it can be difficult for advertisers to figure out which retail media network to prioritize.

“How do you decide how much money to give to Walgreens or CVS [or the other retail media networks]?” said Elizabeth Marsten, senior director of marketplace strategic services at marketing agency Tinuti. “Everyone is asking brands for money. Who gets it and how much? In the end, how do I look at it all? That’s the question brands are asking. Nobody knows the answer right now. Whoever sells it first is the winner.”  

As retail media has become more crowded, the business-to-business marketing from retailers pitching advertisers on retail media networks has become more aggressive and that’s “increased client inquiries” for those networks, noted Barnes. At the same time, the brands interested in retail media have expanded beyond the CPG bread and butter as the “pool of brands that can’t ignore retail media is rapidly circling out further and further.”