December 8, 2023
“Attention! Spilt Media on Digital Aisle 1” – Retail Media
Retail Media has grown by 500% and is set to be a £25.1 billion opportunity in Europe alone – growing by 25% annually. Find out how it can benefit your brand to penetrate and grow market share.
One of the latest additions to ecommerce channels, often undervalued and misunderstood, is retail media. Presenting a unique opportunity, brands can capitalise on the digital footfall of other retailers’ websites by promoting products to the tops of a retailer’s digital aisles.
It has the ability to influence the multiple touch points within the shoppers’ journey including gaining product visibility in digital aisles, terminology placements, category takeover and enhanced content. Since 2021, growth is accelerating rapidly and looking to continue at an impressive +25% annually.
So where are brands finding value in retail media networks?
Our research has found that 40% of shoppers opted for an alternative brand this year to save money. So brands are using retail media to appeal to the price-sensitive consumer. But it can also be used for brands looking to penetrate a market or increase market share. This is particularly crucial for FMCG brands, where 70% of grocery sales are made from the first two rows.
At CSP Commerce, we encourage brands and retailers to consider retail media in five aspects:
- Onsite Sponsored Products
- Onsite Banner Activation
- Onsite First Party Data
- Content Review and Revamp
- Off Site Activation
We leverage our Commerce Intelligence to combine data, market research, and benchmarking to plan and execute retail media activation effectively.
If you want to discuss how to take advantage of retail media’s targeting, contact us using the form below.