Investing in in-store media networks can help retail brands drive revenue

New Ideas in MarketingEssential news for marketers, summarised by YouGov
September 03, 2021, 1:51 AM GMT+0

In-store media includes channels that are more closer to the point-of-sale.

The growth of ecommerce, recently fuelled more by COVID-19, prompted grocery retailers to invest in online channels like in-store media to meet changing consumer needs. With 85% of CPG brands expecting to shift marketing budgets to retail media, adopting in-store media can boost revenue for retailers.

A few of the world's largest grocery chains are already implementing in-store media strategies to attract ad spends. Grocery retailers, however, appear to be falling behind CPG companies in terms of building in-store media networks due to a lack of technological know-how and in-house teams.

The lack of adoption could prevent retailers from benefiting from opportunities of the £1.7 billion in-store market, notes the author. Retailers should collaborate with vendors who offer holistic solutions, competitive advantages like first-party data, and experience in retail operations.

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