![]() ![]() In the report, a retail media network is defined as a network of digital channels owned by a retailer that allows marketers to purchase advertising space directed by the retailer’s first-party data to targeted shoppers and prospects. For example, two-thirds of respondents cited “to drive conversion (sales)” as the most important objective while only 12 percent indicated “to invest for future brand growth” was the most important objective. ![]() The report also showed sharp differences in advertisers’ reasons for using RMNs. The study revealed that brands view RMNs as “have to buy” versus a “want to buy,” and an overwhelming 88 percent believe they are somewhat or heavily influenced by retailers to buy advertising on their RMNs. The report, “Retail Media Networks: A Forced Marriage or Perfect Partnership?” cited a report by eMarketer that projected RMN ad revenue will reach $52 billion in 2023, and $61 billion in 2024, capturing one in five digital ad dollars spent by marketers.īut large spending increases notwithstanding, the new ANA report characterizes marketers as “reluctant buyers” who embrace RMNs with mixed feelings. NEW YORK (January 30, 2023) - When it comes to retail media networks, many marketers seem to be taking a “can’t live with them, can’t live without them” attitude, according to a new ANA study. In the Next Phase of Growth – From Adolescence to Adulthood – RMNs Must Prove Their Value to Drive Both Sales and Growth for Brands Marketers Spending Significantly More on Retail Media Networks Despite Underlying Concerns: ANA Report ![]()
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