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The Rise of Retail Media Networks

Publisher IDC
Published Jun 22, 2022
Length 15 Pages
SKU # IDC17273613

Description

The Rise of Retail Media Networks

This IDC Perspective discusses the rise of retail media networks. Recent growth in ecommerce combined with a host of other factors have led to retailers introducing a new digital advertising channel in the form of retail media networks (RMNs). The advertising is designed to support an additional revenue stream and leverage first-party customer data exclusive to retailers. Brands and CPGs have readily jumped on the bandwagon to achieve stronger ad performance, metrics, and successful DTC audience relationships."A confluence of forces drives the rapid adoption of retail media networks," says Ananda Chakravarty, research vice president, IDC Retail Insights Merchandising and Marketing Strategies. "Retailers, brands, CPGs, ad platforms, and agencies are jumping on this train as it steams out of the station, but this new media train will be conducted by retailers that own the data."

Please Note: Extended description available upon request.

Table of Contents

15 Pages
Executive Snapshot
Situation Overview
Retail Media Network Structure Mirrors Sell-Side Platforms
Market Conditions Converge Forcing Brands and Retailers to Adopt RMNs
Customer Access and Attribution Grow RMN Adoption for Brands
Brands Seek ROAS and Closed Loop Metrics
Brands Seek Higher Conversion Through Advertising at the Point of Purchase
Brands Seek Retailer Customer Information
Brands Seek Customer Targeting
Brands Seek an Alternative to Cookies
Retailers Push for Monetization and Data Accelerates RMN Growth
Retailers Seek a New Revenue Stream
Retailers Seek Online Monetization to Justify Ecommerce Budgets
Retailers Seek to Justify Loyalty and Data Collection Programs with 1P Data
Retailers Seek Omni-Channel Advertising for In-Store Experiences
Consumers Provide the Product
RMNs Are Retail Networks, Not Media Networks
RMN Constraints Span Merchandising, Commerce, Technology, and Strategy
Retailers Will Control and Own Customer Data
Retailers Will Accept Retail Specialized Intermediaries to Maintain Value
RMNs Will Evolve to an Automated Future State
Advice for the Technology Buyer
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Related Research
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