One vocal advocate of the shift from “retail” to “commerce” is Forrester analyst Sucharita Kodali, who said on LinkedIn : “It’s time to stop calling it ‘retail media’ and start saying ‘commerce media.’” The story that prompted this statement from Kodali was a news item about Uber and Lyft (two non-retailers) making big gains with their media efforts. The term commerce also is broad enough to encompass new media offerings from consumer-focused companies that are not traditional retailers. Therefore, “commerce” is a more encompassing term to describe this new set of advertising capabilities. This is because, in these and other instances, while a campaign may be based on retailer’s data and functionalities, the actual consumer connection, and even the transaction, takes place in a non-traditional commerce environment. Especially as offerings like social commerce (where consumers can buy products directly on social media) and in-game purchasing (as consumers increasingly do in gaming and metaverse environments) take off, some feel the term “commerce” more accurately describes the full scope of retail media capabilities. Commerce MediaĪnother term often used interchangeably with “retail media” is “commerce media.” While they are essentially the same thing, many industry experts believe the term “commerce media” offers a more accurate definition of what these new advertising platforms are able to do. Examples of retail media networks include Amazon Advertising, Walmart Connect, Target’s Roundel, Kroger Precision Marketing and Best Buy’s Retail Media+. A retail media network is the actual platform that retailers put in place to do this. Retail media is the broader term used to describe the concept of retailers using their systems, infrastructure, data and access to their shoppers to help advertisers reach consumers. What is a retail media network? The terms “retail media” and “retail media network” are often used interchangeably, and for all intents and purposes they are essentially the same thing. In addition to advertising opportunities, many of the more sophisticated retail media networks also offer services for the brands that advertise with them, which can include data analytics, self-serve advertising platforms, campaign management assistance and more. For more on off-site retail media advertising, skip ahead to this section. Off-site advertising is typically more complex than on-site and is therefore something that only the more mature retail media networks offer at this stage. The kinds of media products a retailer can offer run the gamut from “on-site” advertising opportunities - such as ads and videos on its own website, app or even in its physical stores (an Amazon Sponsored Product ad is the most basic example of this) - to what is typically referred to as “off-site advertising.” Off-site advertising is when a retailer helps advertisers reach its customers on third-party channels like social media or other websites it doesn’t own (“retargeting” is a common example of this). What is retail media? Retail media is when a retailer offers advertising capabilities and services, similar to what media outlets such as publishers and television networks have done for years. This special Retail TouchPoints resource hub will be regularly updated with the latest news, stats, trends and developments in retail media. Whether you’re looking for a deeper understanding of the implications and applications of retail media or need a down-and-dirty explainer on what retail media actually is, you’ve landed in the right place. Retail Media: Everything You Need to Knowįor several years now the term “retail media” has been buzzing around both retail and media circles.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |