The media network opportunity: Moving beyond retail
May. 2, 2024 | By Lauren Wetzel - InfoSum
Retail media networks have been the darling of the marketing world over the past few years, their growth fueled by the confluence of two major industry waves: online shopping becoming mainstream and the transformation of the advertising ecosystem.
Online shopping, for one, is expected to pass the $6 trillion mark worldwide this year and represent over 20% of total retail sales. The online shopping experience has just become really smooth, for the most part, and consumers are all in. Advertisers, on the other hand, are reckoning with the rise of privacy and the loss of third-party cookies, and retail media gives them a chance to connect with consumers at the point of sale — where they’re in a shopping mood and consent is easier to secure — and on participating media platforms.