Retail media is the topic everyone is talking about in the retail and consumer goods industry. And for good reason: the $45 billion U.S. retail media market is surging as retailers capitalize on the consumer shift to ecommerce while offering advertisers access to their unique audiences and data insights. Many retailers developed their own retail media networks over the last few years, from digital marketplaces and department stores to commerce intermediaries.
To say the global retail market is challenging today would be a gross understatement. A rising cost of living, demanding consumer expectations, supply chain disruption and unforeseen public health crises like COVID-19 all contribute to the erosion of retailers’ bottom lines. However, retail media has in recent years emerged as an increasingly promising guard against these economic uncertainties and can even serve as a profitable revenue stream.
