This month’s special edition of Digital Transformation Monthly explores the rise of retail media networks, looking at the drivers behind this growing trend and reporting key stories from individual retailers.
With digital ad spend predicted to reach $41.37bn in 2022, many retailers are moving into the advertising space with their own retail media network launches, while others are expanding their already successful network offerings.
This month’s edition of Digital Transformation Monthly covers:
- The drivers: From the surge in ad spend during the Covid-19 pandemic to new privacy regulations that give users greater control over their data, what are some of the conditions that have paved the way for the growth of retail media networks?
- Leveraging loyalty: As one of the first beauty retailers to break ground in the retail media landscape, what can brands learn from US company Ulta Beauty and how it has leveraged its 37 million loyalty scheme members?
- Crafty partnership: US arts and crafts supplier Michaels is partnering with commerce media platform Criteo to launch its own retail media platform. How is the partnership set to improve the arts and crafts giant’s omnichannel capabilities?
- Pivot to platform: Grocery delivery and pickup service Instacart has announced the launch of Instacart Platform, positioning itself as a tech partner to help retailers monetise their ecommerce platforms. Will this pivot help Instacart respond to dwindling demand for grocery delivery?
- Scale-ups and expansion: Fashion retailers Nordstrom and Macy’s have already seen success from their retail media propositions, and are now scaling up their efforts, while Walgreens and Walmart are adding inventory to their retail media networks. Will these retail giants continue to lead the charge and grow demand for retail media?