A look at the full revenue impact of retail media ad platforms

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The rise in retail media is one of the hottest topics in marketing today. It’s no mystery that the pandemic has massively changed consumer behavior and usher in rampant digital transformation globally. One sector that seems to have benefited the most in these times is ecommerce. Where it used to be just one of many options we had when it came to making a purchase, ecommerce instead became the primary method of shopping. Pandemic-related boosts in online shopping resulted in an additional $174.87 billion in ecommerce revenue for 2020, Digital Commerce 360 estimated . If it weren’t for the bump in online sales from the pandemic, the $861.12 billion in ecommerce sales wouldn’t have materialized until 2022. And with that comes a related increase in spending by brands advertising on those same sites. In fact, 76 percent of brand marketers now agree that “growth of [their] business depends on retail media advertising.” So what are the opportunities for brands who invest in retail media? Our panel consisting of COTY’s Kelsie Johnston, CAVU’s John Denny, Salsify’s Molly Schonthal, and Firstmovr’s Chris Perry, dissect and examine various aspects and impacts of retail media, from media value and online sales to partner value and CPA Efficiency to name a few. Watch the panel discussion above to hear exclusive insights on: 1:00 – Growth of Digital vs Retail Media spending 2:43 – What are the impacts of retail ad platform spending? 5:54 – Online Sales 6:20 – Offline Sales 7:04 – Digital Visibility 7:50 – Office Placement 8:29 – CPA Efficiency 13:36 – Which impact of retail media do you believe is most important? 24:03 – What are the barriers to brands investing more in retail ad platforms today? 33:40 – What specific measurement barriers exist? 44:26 – Which barriers have you seen able to be overcome and how? 48:30 – Which barriers still remain and what is needed to overcome? The post A look at the full revenue impact of retail media ad platforms appeared first on ClickZ .

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What is a Retail Media Network?

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The marketing and advertising industry is a fast-paced industry. With technology evolving rapidly, people have found it more convenient to do their shopping and other transactions online. With digital interactions overtaking in-person activities, this shift in people’s lifestyles means one thing for businesses — they need to pivot fast. Failure to do so can only lead to losing customers. Enter retail media networks. What is a Retail Media Network? With more and more people shopping online, retail media just makes sense. But what exactly is a retail media network? A retail media network is when retailers set up an advertising platform on their website, app, or other digital platforms within their network. This allows the store, and other brands, to advertise to customers on sites like CVS or Walgreens. It’s a form of in-store advertising in a digital format. Here’s an example from CVS’s homepage. Notice the “sponsored” tag in …

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Key insights: Effect of COVID-19 on consumer behavior, the world’s more video content savvy, and Apple shakes up AR

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30-second summary: According to Global Web Index’s findings, 80% of consumers in the U.S. and UK say they have consumed more content since the outbreak. According to emarketer, 49% of marketing professionals and agencies held back a campaign launch until later in 2020 and 45% stopped or paused a media campaign midway. Admoik shared that there was a 17.2% drop in week-over-week ad revenues, direct deal and programmatic guarantee being the biggest drops. Despite the 8.3% decrease of retail industry’s M&A deals, Apple acquired AR technology startup, NextVR for a $100 million with an intention to launch its AR headset in 2022 and AR glasses in 2023. 53% of consumers prefer brands to communicate through TV ads. According to McKinsey, UK, Spain, and Italy are least optimistic, whereas the US (37%) and China (48%) are optimistic about their economies jumping back to normal in the next two-to-three months. Purchases are …

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What the holiday shopping season will look like in 2020

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30-second summary: Shoppers aren’t planning to significantly change how much they spend this holiday season compared with 2019. Many more people are planning to make their holiday purchases online versus in stores, where the fear of catching COVID-19 is still keeping shoppers away. While saving money remains a top priority for consumers, the contraction in consumer spending that occurred in April rebounded in May and June. Black Friday is moving online, converging with Cyber Monday to make the overall holiday shopping season for 2020 a very virtual one. Retailers can prepare for holiday shoppers by looking at behavior from the recent back-to-school shopping season. Sprout Social found that consumers and brands interacted much more on social media than pre-pandemic, dominated by social conversations focused on COVID-19. Retailers can prepare for the upcoming influx of virtual shoppers by focusing on personalization, polishing their messaging, understanding what platforms consumers use to communicate …

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Steering retail into 2021 with digital at the wheel

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30-second summary: The shift to online shopping was already well underway pre-pandemic. Consumers are taking advantage of expanded service offerings to get the products. Customers see digital and in-store as two facets of the same experience. People are looking for brands to deliver instantly on the values they believe in. In the absence of historic data, BI and search insights have become critically important. Now that the holiday buying season is well underway, we’re seeing the extent to which the year of the pandemic—and its unusual consumer trends and behavior—is impacting the retail industry. While some of these trends could revert to historic levels post-pandemic, others will likely change retail into 2021 and forever. The shift to online shopping was already well underway pre-pandemic, although no one could have predicted the speed at which adoption would increase over these past months. As digital accounts for an increasing proportion of purchases, …

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Key insights: Consumer trust segmented, the power of push notifications, martech stacks lack strategy, and more

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30-second summary: Healthcare and educational institutes win consumer trust while media and government struggle March saw push notifications reach their highest direct open rates and 32% of website visits were through these mobile app push notifications Mobile remains the best way to engage people with push notifications DemandLab’s recent ‘Martech stack optimization survey’ reveals that 53% of marketing leaders have no plan in place for their martech stacks Deals have shown a positive graph, Australia and Germany are opening up their economies due to some relief from the COVID-19 hit Conviva study segments streaming behavior across regions and devices – TV, PC, live streaming, and video on demand Standard ads vs COVID-19 based ads, what performed better? More on what CMOs’ immediate budget actions should be Information is power and mental health is key. In light of current events, we took the onus to save you the effort and have …

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How automation solves the problem of product feed and retail ad management

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30-second summary: Channable is a global retail platform that enables digital marketers, brands, and online retailers to effectively automate and manage their online retail sales. Channable helps sell, advertise, market, and manage users’ retail products via tools that include product feed management, PPC automation and retail marketplace integration. Channable’s subscription-based solution starts at $39 a month for 500 items and three channels, with the ability to scale up from there. Channable solves two key problems for its clients: the platform manages product data feeds across multiple marketplaces and automates retail ad management and deployment. In 2021, Channable plans to invest in stabilizing and growing teams in established regions, with a particular focus on growth in the U.S. Channable is a global retail platform that enables digital marketers, brands, and online retailers to effectively automate and manage their online retail sales. The platform helps sell, advertise, market, and manage users’ retail …

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The cost of complexity: ClickZ’s advisory board discuss the latest trends in martech

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30-second summary: COVID-19 has caused a seismic shift in digital operations and consumer behavior, leading to an acceleration in digital transformation. commerce penetration grew from 16% to 27% over an eight-week period this year, for example, fundamentally changing the way retailers sell goods. As martech players emerge to address increased shifts to digital, companies are caught in the middle of an explosion of complexity, trying to figure out how best to leverage new technology with little time to plan. The digital skills gap has widened with the increased rate of digital transformations. Businesses are scrambling to find talent that has experience across ad tech, martech and data.. Sales and marketing alignment has become even more important as teams balance decreasting marketing budgets and increase in pressure to deliver more sales with less to keep the business alive. The cost of complexity is high when companies purchase technologies they don’t use, …

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Behavior changes means new learnings for ecommerce retailers

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30-second summary: Lockdown has had an enormous impact on browsing habits. Data indicates the flux in ecommerce or online shopping from the beginning of the November lockdown in the UK through to an unexpected peak as lockdown finished. Festivals and events – everything from Diwali to the launch of next-gen games – that would ordinarily propel shoppers into stores, have created short, sharp rises in online activity. The promotions normally focused on the Cyber Weekend have been extended this year across an entire month to take advantage of a rise of around 38% in traffic volumes as more people browse digitally. What this means for the uncertain year ahead is that retailers need to be agile and able to react quickly to the latest changes in rules and guidance to ensure they meet consumer demands. Competing in a digital world is tough. The pandemic makes it tougher, but the data …

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Why ecommerce marketers should look beyond Facebook & Google this holiday season

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30-second summary: COVID has triggered a massive spike in digital shopping, especially on mobile. Pursuing customers exclusively via Facebook & Google ignores the larger opportunity. Consolidated competition in walled gardens correlates to reduced returns for all. OpenRTB technologies provide a powerful programmatic alternative. The window of programmatic first-mover advantage is closing. For ecommerce marketers, the 2020 holiday shopping season represents an unprecedented opportunity. COVID-19 has hurled us five years into the future in terms of addressable market size, and giants like Amazon have doubled their profits . The industry at large is expected to grow by at least 20% before the end of the year, with much of that growth attributed to mobile shoppers . On the other hand, high unemployment, presidential election dynamics and a growing national debt could lead to a shorter, flatter, myopic holiday shopping season in the United States, traditionally a tentpole market. This confluence of …

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Despite what you think, 2020 had a silver lining. It forced ecommerce to evolve digitally

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30-second summary: Retail has split more than ever before as the trend shifts to a more even 50-50 ecommerce and offline sales ratio Ecommerce took a diversified approach to marketplaces and advertising avenues Social selling moved from a “want to have” to a “need to have” proving itself more valuable than with influencers alone – with almost every social platform providing an online marketplace Going local is the mantra helping local businesses wherever you are in the world Sellers with an online and offline approach sustained growth COVID-19 stole the show because of its massive impact across the globe. Focusing on retail and ecommerce, in particular, there were monumental shifts that led us into innovation and growth in the next year. I would also refer to these as the cardinal rules to survive in ecommerce in 2021. Brick and mortars need to react fast In January 2020, it was business …

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