Brian Monahan, Global Client President, Head of Retail Solutions
In the ever-evolving landscape of retail, a key player has emerged with a compelling narrative: Retail Media. This dynamic force has swiftly risen to prominence, reshaping the way brands connect with consumers and revolutionizing the advertising domain.
According to since this spring, signaling a seismic shift in marketing strategies and consumer engagement.
The Power of Retail Media
Retail Media is not just about advertising or media; it's about understanding the consumer's journey from shopping for "what I want" to being guided to "what to want." Dentsu Consumer Navigator highlights that a staggering 75% of US consumers are influenced by brands advertised in-store, underscoring the potent impact of Retail Media. What shopping was in the past is not what shopping is today; it is often tech-enabled and driven by more immersive experiences?. The buyers and sellers have a shared interest in increased sales. By leveraging Buy Side, Sell Side and Shopper Expertise we can increase the yield of retail media to preserve the shopper experience while driving performance for brands and incremental revenue for retailers. It's a subtle yet profound shift that reflects the evolving psyche of the consumer.
The Expectations of Today’s Consumers
In today's digital era, 'knowing' your shopper is the bare minimum. Customers now expect a personalized experience, and that brands and retailers remember their preferences, both online and in-store. With so many unique paths to purchase we must meet customers in the right moments. Dentsu Consumer Navigator reports that 76% of US consumers have this expectation, yet many retail experiences fall short, confined by the traditional boundaries of Retail Media.
Crafting the Ultimate Shopper Experience
Consumers look to be 'understood' across all shopping platforms. They want recognition for their loyalty and for that loyalty to be rewarded. They crave personalization that doesn't infringe on their privacy, and seek experiences that are fun, efficient, and informative. Retail Media provides a deeper understanding of consumer insights and modern shopping behavior, real time retail media market dynamics and the development of 360-degree shopper profiles that empower innovative retail shopping experiences: digital shopping carts, in-store shelves and custom content.
Driven by Data
Retail Media Networks leverage customer data to create targeted advertising campaigns that resonate with specific audiences. By analyzing purchase history, browsing behavior, and demographic information, these networks can tailor advertisements to individual preferences, increasing the likelihood of engagement and conversion. The insights gleaned from customer data enable retailers to optimize their product offerings and promotional strategies, further bolstering their success in the competitive retail landscape. This personalized approach enhances the overall shopping experience for consumers while driving revenue for retailers by maximizing the effectiveness of their advertising efforts
At 兔子先生, we power retail media solutions with Merkury, a global data and identity platform, that gives marketers ownership and growth of first-party identity to enable a total experience—turning creative, media and customer experience data into intelligent actions that drive growth and brand loyalty. Using targeted customer data delivers unduplicated reach curves and models the best use of funds before diminishing ad-spend returns. It provides robust profiles for a deeper understanding of segments to support data driven creative and cross selling opportunities. These addressable segments can then be pushed through the Merkury Publisher Marketplace to create an unmatched planning tool.
Envisioning the Future of Retail Media
The horizon for Retail Media is brimming with potential. The future calls for brands to forge a cohesive and captivating customer journey and elevate in-store experiences. We must reimagine Retail Media as more than a conversion tool but as a source of consumer delight.
As we chart the course forward, let's embrace innovation, think outside the box, and harness the full spectrum of Retail Media to enchant and engage the modern shopper. The revolution of retail is upon us, and it's time to think outside the box, crafting not just a marketplace, but creating memorable moments and personalized touchpoints that resonate with consumers at every turn.