Retail Media Networks (RMNs) are becoming the future of where media is activated with seemingly every retailer launching one. The current state of retail media networks spans across different types of retailers, but looking to the future, there are few channels and capabilities that all retailers will start to adopt as they evolve. Understanding this evolution will help suppliers know how to best leverage retail media networks.
Improved Customer Experience
How shoppers see ads is becoming increasingly important for the overall customer experience. Beyond the expected, shoppers are now looking for more experimental and experiential interactions with brands. As such, where and how they are interacting with the media is impactful to their decision-making. Not only is retail media influencing what shoppers buy, but also how they buy, whether in store, delivery or curbside pickup.
Be More than a Tax
Now more than ever it is important for RMNs to evolve offerings so it’s not just something suppliers must do to please retailers, but also a place suppliers want to continue to increase their investments. In the next phase of RMNs, we should expect to see additional channels added to existing offerings that allow shoppers to experience brands in innovative ways.
Leverage Current and Emerging Channels
RMNs currently offer many opportunities for suppliers to deliver ads across multiple channels. However, it is important for suppliers to understand when to leverage each channel and be cognizant of emerging opportunities. As RMNs grow these capabilities, suppliers should set parameters for when to test them and determine the best measurement approaches to prove actual impact.
This article is part of the Retail Media Summit Trends Report 2022 – download the full report here.