We recently conducted a survey of 200 retail professionals about their existing or planned retail media The retail professionals we surveyed overwhelmingly indicated an increased commitment to, and investment in, their RMNs in 2021. The main reason? They see those networks as crucial vehicles to drive sales and create new revenue streams.
Retailers with existing RMNs are investing even more.
The retail professionals we surveyed overwhelmingly indicated an increased commitment to, and investment in, their RMNs in 2021. The main reason? They see those networks as crucial vehicles to drive sales and create new revenue streams.
Retailers are now focused on adding new capabilities to their retail media networks.
Now that retailers have discovered how profitable their RMNs can be, they’re looking for ways to expand those networks and add new capabilities, in order to maximize reach and effectiveness. Whether it’s new programming or new channels, retailers want to use their shopper data to personally engage customers in new ways.
Ad revenue growth is expected to shoot up even higher in 2021.
While RMNs are incredibly effective at increasing shopper engagement and sales, they also generate profitable ad revenue. As retailers expand their networks and add capabilities, they will be able to increase ad sales to other brands and CPGs.
In 2021 it’s all about new features.
Because RMNs are proving to be powerful profit centers, retailers are looking to add new features and benefits that can drive even more return on investment. More than half of respondents want to improve sales reporting and attribution.
Retailers also plan on beefing up RMN sales.
Retailers are enjoying the added income from RMNs, and interested in increasing the size of their paying client base. 58% of respondents indicate that they plan on expanding their RMN sales organization in the next year, to capitalize on the added revenue opportunities.
Non-endemic ad revenue could be the next big RMN opportunity.
Profits are already rolling in from endemic advertisers, but revenue from non-endemic brands and CPGs might provide the next big ROI boost to retailers. 39% of respondents already see the category as a key area for growth.
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