The growth in e-commerce over recent years has also arguably made retailers’ websites and apps valuable media spaces in their own right. And this shift has in turn created a unique opportunity for retailers to develop new revenue streams with potentially far higher margins, while also deepening their relationships with brand partners.
In fact, GroupM has forecast that U.K. e-commerce-related advertising would grow 66% in 2021 and contribute £2.4 billion in media owner ad revenue by 2024.
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The last decade saw the rise of Shopify, Adobe, Magento and Salesforce Commerce Cloud, which arm retailers of all sizes with the tools to compete on a level with market leaders like Amazon and Alibaba. Today, a new band of tech providers is emerging to help retailers realize the potential of retail media.
These platforms are capable of generating meaningful revenue streams from retailers’ media and data, and to bring their clients improved campaign measurement in light of changes to third-party cookies and the depreciation of Apple’s device-level identifier IDFA. However, as yet, the tech landscape around retail media can be fragmented and tricky to navigate.
In this report, The Drum and InMobi explore:
How brands and retailers can take advantage of retail media in 2022.
The main challenges and opportunities right now.
Industry viewpoints from key players to help you prepare for and capitalize on the retail media revolution.
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Quotes from the Report
“Retailers are often the interface between customers and brands, so giving advertisers the opportunity to communicate to and engage with their customers as they're making a purchase decision is of huge value to brands” - Nick Ashley, Head of Media and Campaign Planning, Tesco
“Retail media offers advertisers a unique ‘closed loop’: real data-backed advertising that can be accurately linked to sales.” - Ollie Shayer, Director of Omnichannel Media and Planning, Boots UK and ROI
“Retail media offers FMCG brands the opportunity to talk to customers at the point of purchase. It also provides marketers with comprehensive reports on the success of campaigns, covering soft measures, such as reach and frequency, and also harder metrics, like impact on sales.” - Alex Crowe, Head of Asda Media Partnerships
Find out more about how InMobi works with commerce firms to build and develop retail media.