What can retail media achieve?
This approach enables retailers to generate additional revenue by offering advertisers the opportunity to present their products or services to the target group in a targeted and personalized way. At the same time, advertisers and brand owners benefit from the additional creation of strong customer loyalty and the targeting of an already interested target group. Retail media is now being used successfully in various areas of retail and offers a wealth of opportunities that are already being used in the first places:
- E-Commerce-Platforms: E-commerce giants use retail media to place targeted ads based on customers’ online behavior. As a result, customers receive personalized recommendations and see ads that match their interests.
- Physical retail stores: In-store displays and digital advertising spaces are on the rise these days. This form of retail media enables brand owners to advertise products directly in-store and address customers on the spot.
- Mobile Apps: Mobile apps have become an important part of retail. Here, brands and retailers can place targeted advertising to engage mobile customers and improve their shopping experience and create a consistent brand experience.
In addition, brand owners and retailers can use the data-driven findings with the use of an appropriate software solution: This is because the data collected from retail media enables informed decisions to be made and, for example, ongoing marketing campaigns to be better tailored to the target group. These insights can also be used to optimize product placement, inventory management and marketing strategy.
In all of these application areas, Retail Media enables targeted, data-driven advertising that is tailored to the individual preferences and purchasing behavior of customers. It increases profitability and encourages more effective interaction between brands and customers. Retail Media has proven to be a powerful tool that can lead retail into a new era of marketing.
