DoubleVerify( “ DV ”)( NYSE DV), a leading software platform for digital media dimension, data and analytics, moment released its state of retail media report, “ The Rise of Retail Media What to Anticipate in 2024, ” surveying over 400 advertisers and agency directors about retail media networks( RMNs) in the UK, US, France, and Germany. The report explores the fleetly expanding retail media request, which includes RMNs handed by retailers e-commerce platforms.
The US Leads the Way 87 of replies in the US reported that they use retail media networks, and 83 plan to increase their RMN spend, leading all other requests. Eventually, DV set up that the pace of retail media relinquishment differs between the US and EMEA, showcasing the need for retailers to drive relinquishment and growth with region-specific pretensions in mind.
The significance of Trust and translucency An inviting 91 of replies buying RMN force are working with an announcement verification mate moment. also, 89 of those polled in the US said” icing announcement quality within retail media networks is important,” followed by 77 in the UK and 73 in France.
Brand and Agency Benefits When asked about the biggest benefits from using retail media networks, 37 of brands cited” reaching target followership” as their top advantage, whereas 32 of agencies stressed” increased brand mindfulness”. When assessing RMN effectiveness, brands generally measured success by an” increase in in-store or online deals”( 50), whereas agencies concentrated on” print reach”( 43).
BigE-commerce Representation A maturity surveyed primarily works with Amazon Advertising. Amazon was ranked the# 1 most espoused RMN across 3 of the 4 requests polled US( 51), UK( 71), and Germany( 51).
Reasons for Choosing RMNs Nearly half of the check repliers( 45) said their primary thing of advertising with RMNs is to “ attract first-time guests, ” followed by “ targeting specific demographics and product interests ”( 40), and” reaching consumers at the point of purchase ”( 37).
Relinquishment Challenges When check repliers were asked to identify the primary challenges in using RMNs, four issues surfaced as top enterprises, each cited by 30 of actors limited targeting options, constrained on- point announcement space, high costs, and the absence of announcement quality verification by third parties.
RMNs Garner High Spend But Strong Return Among all repliers, nearly half( 48) felt that RMN cost- per- mille( CPM) rates are advanced than other channels, with this sentiment being particularly strong among agency directors, as 58 echoed this view. still, when asked about the return on announcement spend( ROAS) of retail media, 61 of buyers said they believe RMNs perform better than other channels.
” Retail media has snappily come a crucial channel in digital advertising, attracting a large share of advertiser announcement budgets, ” said Mark Zagorski, CEO at DoubleVerify. ” Brands are feting its value and effectiveness in reaching guests at the purchase point, especially with third-party eyefuls phasing. Our exploration provides advertisers and retailers with precious perceptivity to upgrade and ameliorate their strategies in this growing and dynamic space.”
DV’s study explored several critical areas of RMN advertising investments
Growth How high is advertiser demand for RMNs and where is it concentrated encyclopedically?
Value Why are advertisers seeking out RMNs and which KPIs are they fastening on?
Challenges What walls are limiting unborn RMN relinquishment?
Verification How can RMNs and advertisers bridge the announcement quality dimension gap?
For the analysis, DV partnered with Sapio Research, fastening on RMN engagement situations, arising trends, and assiduity sentiment.
“ Retail Media Networks present a precious marketing occasion. still, like all advertising on the open web, retail media announcement quality isn’t a guarantee for advertisers or retailers, ” added Zagorski. “ That’s why DV’s comprehensive suite of results offers a standardized dimension and optimization frame that facilitates translucency, drives performance, and enables the development of further sophisticated retail media strategies. ”
