Prime Avenue Group’s Post

“Advertiser spending on retail media networks in the U.S. is forecast to jump 30% this year, with growth largely coming from offsite programmatic media, according to a new report from Advertiser Perceptions.” #retailmedia #retailtrends

https://lnkd.in/efFUfCxN Retail media will account for approximately one-fifth of worldwide digital ad spend this year, reaching $140 billion. Yet, with over 600 RMNs there is simply not enough money for all of them to be sustainable as the majority of retail media dollars go to only the top 7-10 retailers. #media #retailmedia #retailers #cpg

What is the trajectory of #offsite retail media? #Offsite retail media is the next big thing in advertising, but what exactly does it entail? Think of it as your brand shining bright beyond the confines of what is considered traditional Retail Media advertising spaces. It's all in the name: ‘OFF-SITE’ retail media is when a brand advertises through their retailer's Retail Media Network (#RMN). For example, when Hush Puppies advertises through MYER Google ads - instead of their own. Offsite retail media allows brands to engage with consumers across platforms like #Facebook, #Instagram, #Google, #YouTube, and #Pinterest through Zitcha's Unified Retail Media Platform. Most recently at #NRF in New York City, Andrew Lipsman, former Principal Analyst at Insider Intelligence, shed light on the evolution of retail media networks (RMNs), emphasising their transition from search ads on Amazon to encompassing large ad businesses across physical retail spaces. From #sponsoredproducts to website banners and brand stores, offsite retail media is moving up the funnel and expanding into formats like CTV and off-site banners, with spending expected to reach $24 billion by 2027 according to EMARKETER. The boom of offsite retail media is evident, and it's time for brands to seize the opportunity. Want to learn more about kickstarting your offsite retail media today? Book a meeting with us today: https://bit.ly/3P8LGVc

Walmart’s Ad Revenue to Hit $10B by 2024 – A Strong Contender in Retail Media! Walmart is making significant strides in the retail media and search space, positioning itself just behind Amazon. This is a game-changer for those of us in digital marketing and e-commerce. Here are the highlights: 🔹 Retail Media Network: Walmart Connect, Walmart’s retail media network, is on track to generate $10 billion in ad revenue by 2024. This shows Walmart's commitment to expanding its digital advertising capabilities. 🔹 Boost in Search Advertising: Walmart is ramping up its search advertising efforts to improve relevance and performance. Search ads are crucial as they drive a significant portion of e-commerce traffic. 🔹 Strategic Partnerships and Technology: Walmart is heavily investing in technology and forging strategic partnerships to enhance its advertising offerings. By leveraging data, Walmart aims to create more personalized and effective ad campaigns. 🔹 Market Position: Despite Amazon's leadership, Walmart is becoming a formidable player in the retail media space. Its retail media revenue is expected to grow at a compound annual growth rate (CAGR) of 24.8% over the next few years. Walmart's strategic investments and innovations are positioning it as a strong contender in the retail media landscape, offering valuable opportunities for brands and advertisers. Check out the full article here: Walmart Strengthening Position in Retail Media and Search Behind Amazon: https://lnkd.in/e5ivkXiQ? #RetailMedia #DigitalAdvertising #WalmartConnect #Ecommerce #TechTrends

🚀 Global Advertising Achieves $1 Trillion Milestone in 2024! According to WARC, a global authority on advertising and media effectiveness, global ad spend is up 10.7% this year, reaching a record-breaking $1.08 trillion, with retail media, social media, and search leading the charge. With the holiday season coming up, it is a make-or-break moment for advertisers, with brands expected to spend a staggering $299B in Q4 alone—a 10.2% increase from last year, as brands fiercely compete for consumer attention and wallet share. With consumers ready to spend, brands that win visibility will capture market share and boost revenue. Key factors driving this surge: 🎯 Consumer Spending Peaks: Holiday shopping events like Black Friday, Cyber Monday, and Christmas drive massive sales. Brands invest heavily in ads to capture these critical moments when consumers are primed to buy. 🛒 Retail Media Dominance: Brands will spend $46.2B on retail media, leveraging platforms like Amazon to target consumers at the point of purchase. 💼 Category Leaders: Sectors like tech, electronics, and FMCG are doubling down. Tech brands will invest $7.2B in retail media this holiday season, while FMCG brands are boosting their spend in food, drinks, and cosmetics by double digits. #HolidayMarketing #RetailMedia #Advertising #AdTech #WARCInsights #MarketingStrategy #BlackFriday #ChristmasShopping https://lnkd.in/dcc-wzAA

A trend that is on the path to capture major media dollars. With advertiser's trust on the open internet buying eroding, FP data coming from walled retail/commerce garden will spearhead the next generation of programmatic buying.

Unlocking Retail Media Network (RMN) Potential with Keen... Retail media is the fastest-growing ad channel in the US, growing by 26.0% this year and capturing 14.1% of total US media spend. By 2028, nearly 1 in 5 ad dollars in the US will be devoted to retail media. Yet, this channel has the potential to drive greater impact. Here are the biggest challenges facing RMNs today, and how Keen can be the solution: 1. Lack of Standardization: Inconsistent ad types and measurement make it difficult to compare RMNs. Keen Solution: Our platform incorporates RMN spending across retailers, enabling advertisers to gain clear, comparable insights, ensuring they get the optimal spend by retailer, including halo effects and interactions with other marketing investment channels. 2. Competing with Amazon: Amazon dominates the RMN landscape, holding 77.0% of the US retail media ad spend. Keen Solution: Keen’s advanced analytics empower advertisers to identify and leverage opportunities across all retailers, including with non-Amazon RMNs. This maximizes the value of their ad dollars in an increasingly competitive market. 3. Off-site Integration: Integrating off-site retail media is complex and challenging. Keen Solution: We put all marketing tactics in the same optimization model, accounting for the impact and interaction effects of on-site vs. off-site efforts. 4. Siloed Budgets: Separate teams manage different marketing efforts, hindering a holistic approach. Keen Solution: While organizational structure changes would help, Keen facilitates a holistic view of marketing budgets. This helps in breaking down silos and ensuring cohesive strategies across the full marketing funnel, preventing redundant spend and uncovering missed opportunities. Why RMN Optimization is Becoming a Core Use Case... Retailers and brands need to navigate these challenges to fully unlock the potential of retail media and get to the right mix of spending between RMN’s and other marketing channels. At Keen, we’ve made RMN optimization a core focus to address these exact issues. By leveraging our platform, advertisers can land on the right retail media strategy, making informed decisions that drive better outcomes. Of course, this information can also help sales teams with information necessary to better negotiate with retailers. Connect with us to discover how Keen can optimize your RMN spend and elevate your marketing strategy to new heights. #RetailMedia #MarketingOptimization #KeenInsights #AdTech #DigitalMarketing #MediaSpend #RetailGrowth Feel free to connect for more insights and let’s make the most out of every marketing dollar spent!

As a category, 𝗿𝗲𝘁𝗮𝗶𝗹𝗲𝗿𝘀 𝗻𝗼𝘄 𝙢𝙖𝙠𝙚 𝗮𝗹𝗺𝗼𝘀𝘁 𝗮𝘀 𝗺𝗮𝗻𝘆 𝗮𝗱 𝗱𝗼𝗹𝗹𝗮𝗿𝘀 𝗮𝘀 𝘁𝗵𝗲𝘆 𝘀𝗽𝗲𝗻𝗱. Colleague Yory Wurmser writes, "In dollar terms, retailers make over 1/4 of US digital ad buys and sell nearly 1/5." 💵 Indeed, both #retailmedia & #retail ad spending are booming. Of course, the sell side is dominated by Amazon which takes in around 3/4 of all retail media spending in the US. By contract, the landscape of retailers spending on ads is far more fragmented, with new mega-spenders like Temu emerging. Yory's brand new Insider Intelligence / eMarketer report called 𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗔𝗱 𝗦𝗽𝗲𝗻𝗱𝗶𝗻𝗴 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁 𝗮𝗻𝗱 𝗧𝗿𝗲𝗻𝗱𝘀 𝗤𝟭 𝟮𝟬𝟮𝟰: 𝗥𝗲𝘁𝗮𝗶𝗹 𝗪𝗶𝗹𝗹 𝗗𝗿𝗶𝘃𝗲 𝗚𝗿𝗼𝘄𝘁𝗵 𝗼𝗻 𝗕𝗼𝘁𝗵 𝗕𝘂𝘆 𝗮𝗻𝗱 𝗦𝗲𝗹𝗹 𝗦𝗶𝗱𝗲𝘀 is a must-read for retailers looking to understand how to make and spend their marketing dollars. It's also key for ad platforms looking to understand how spending by industry is shifting and for marketers interested in which types of advertising are growing fastest. Link to the report for clients in the comments.

This is really interesting and, in my opinion, very short-sighted. I had assumed that the buy side and the sell side would grow somewhat in tandem. As more dollars flowed into the retail ecosystem, more dollars would be spent by the retailer in the market (thus feeding the flywheel). This says that the retail media dollars are mostly still sitting at the digital shelf (self-contained). Given that most retailers struggle with ad inventory constraints, this theoretically puts a cap on the growth potential of RMNs outside of Amazon. It might not live within the #RMN (i.e. maybe 'offsite' powered by the RMN is too hard to sell or perceived as ineffective). But some of the margins from the RMN need to be reinvested in the #retailmarketing and growth of the retailer overall - not just in padding margins. Otherwise we miss a massive opportunity for collective growth. The #flywheel is hungry. Feed the flywheel!

Advertiser spending on retail media networks in the U.S. is forecast to jump 30% this year, with growth largely coming from offsite programmatic media. But that bump also comes as retail media networks are questioned over transacting on low-quality MFA websites: