It’s predicted that by 2027, retail media ad spending in the United States will exceed $100 billion, making up almost 27% of all digital ad spending in the country. As investment in retail media continues to grow, it is clear that interest is not one-sided.
During the Grocery Impact event hosted by Progressive Grocer, Claire Wyatt, VP of business strategy and marketing science for Albertsons Media Collective, and Inmar's Leah Logan, GM of retail media, discussed the dynamic nature of retail media and how it connects shoppers, physical stores, and the digital environment. Below are some of the highlights.
Retail media networks were initially developed and launched by retailers as a monetization tool. Today, they’re rapidly evolving.
Retail media networks have become true, impactful media platforms — with retailers now recognized as the new publishers. Wyatt noted that sophisticated retail media networks now act as a flywheel for the broader retail organization, with customer-generated data playing a significant role in delivering connected and personalized experiences.
Collaboration between traditional retail media teams, merchandising, and marketing teams has improved.
This cooperation has led to a more cohesive approach to delivering outcomes for retailers and advertisers. Logan believes integrating the customer experience into retail media has become a key consideration, with a growing emphasis on offering value-added content throughout the shopper journey instead of targeting specific touchpoints.
The retail media landscape is constantly evolving, with ongoing expansion of capabilities and goals.
Industry stakeholders are exploring ways to leverage the potential of these networks, and Logan and Wyatt have shared their thoughts on the future of retail media and its role in enhancing the customer experience. You can read more about their perspectives on the topic here.