What is Retail Media, and what are Retail Media Networks?
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There is no doubt that online shopping has become a staple in many households. So many of us are buying things online, rather it’s ordering from Amazon, Target, Wal-Mart, or Sephora- we are spending a lot of time shopping online. Given this fact, many retailers have capitalizing on this time spent to profit by selling their own ads space to advertisers to target you while you are searching and shopping for products on these retailer’s websites.
Retail Media refers to the ad space that retailers monetize online. A Retail Media Network, according to EMARKETER refers to “An asset owned and operated by a retailer that publishes advertisements, or a third-party publisher that contains ads that leverage a retailer’s first-party shopper data. “ (Source: EMARKETER Retail Media Explainer)
Below is an example of an Advertisement that I got from Samsung while searching for “Smart TVs” on Walmart.com:
Samsung Ad serve to me on Walmart.com
According to EMARKETER, “The 5 biggest Retail Media Networks by Ad Spend are Amazon, Wal Mart, Target, Instacart, and eBay” and “Amazon is the biggest retail media network in te US by far, accounting for around 75% of media ad revenue share.” (Source: EMARKETER Retail media networks: What they are and why they matter to marketers and retailers)
Check out the top 5 Retail Media Networks below to learn more about how you can advertiser on their networks.
Retail Media Networks are valuable because they have a lot of first party data. Whenever you make a purchase on a retailer’s website, you likely have to create an account, which includes information that can be used to target you with ads. Retailers also have access to your purchase and search history, which makes it easier to target you with ads. As an Advertiser, this an effective way to advertise, and a direct way to capture ROI.
