In-store retail media - marketing to consumers at any customer touchpoint in physical retail space - offers a lucrative opportunity for grocers.
Around 80% of grocer customers shop in-store and, according to BCG they represent a “$100 billion media opportunity for retailers”. FMCG brands looking to target these buyers are significantly increasing investments in retail media – opening up opportunities for grocers to harness their FMCG suppliers’ sizeable marketing budget.
Physical retail media allows brands to tap into unique in-store audiences, which they could never reach on platforms like Amazon and Facebook. Moreover, grocers with their own in-store data can sell their in-store media space easily and effectively.
Along with strengthening grocers’ value proposition, this opportunity would also open a new, highly profitable revenue stream for retailers. But, technology adoption would play a crucial role in deciding the success of retail media. So, grocers providing in-store audience analytics and real-time targeting capabilities would be better positioned to utilise this opportunity.
[3 minute read]
