What is Retail Media?

Retail media is an advertising technique used by advertisers to encourage purchases. It consists of offering targeted advertising directly during the consumer's purchasing journey. Retailers and e-merchants monetize their audience with brands to generate additional revenue. Brands, meanwhile, benefit from a strategic space to communicate: point-of-sale (POS), website or mobile application, and are visible while the consumer is shopping.

How does retail media work? Is it an effective strategy? An overview of everything you need to know about retail media.

The retail media environment

Retail media ads

The retail media ad appears on a retailer's website or directly at the point of sale, using dynamic outdoor displays for example. It comes in several formats. DOOH (Digital Out Of Home) allows ads to be broadcast via communication screens in the street, in store windows, inside a shopping mall, etc. On the Internet, the digital campaign can be integrated on the home page, on category pages or even on a product sheet, to reach the target at different stages of the buying process, in native or display format. Less intrusive than traditional advertising, retail media make communication more relevant and effective. There are solutions that enable even more personalized targeting, using transactional data provided by e-tailers and physical stores. In this way, both the ad and the brand gain in credibility and appeal with the target audience.

Retail media players

Retailers and e-merchants work hand in hand with brands to offer consumers a successful personalized experience. To meet the expectations of today's ad-savvy consumers, they offer relevant ads that appear at the right time with the right people to encourage clicks and purchases. To maximize performance and make the job easier, brands and retailers can use a platform and call on a specialized agency to act as intermediary. The latter determines the most appropriate strategy, optimizes ROI and analyzes the data collected.

Why retail media?

Retail media is a way for advertisers to boost brand awareness, and for retailers to energize and monetize advertising space. Retail media advertising attracts the consumer's eye with contextually relevant, non-intrusive advertising on a display screen or online. It's clear that today, retail media is an effective solution for converting and building loyalty. Consumers are targeted at point-of-sale, online or in-store, with hard-hitting, personalized campaigns that can be linked to sales, enabling comprehensive reporting to analyze campaign performance. Products are showcased in a safe environment for brands.

The evolution of retail media and the advent of digital

Digital technology has completely overturned the codes of marketing and led to the evolution of retail media techniques. The digitization of the customer's purchasing path offers a major advantage: more consistent data collection (behavior, preferences, habits: shopping basket, product type, frequency of purchase, etc.) after consumer consent. Data is a veritable goldmine, enabling advertisers to target consumers more effectively thanks to a more detailed knowledge of their consumption patterns. As a result, advertising is more personalized and therefore more effective. This communication channel has also helped to develop contact points with consumers. According to a study by GoupM, retail will account for 18% of global digital advertising by 2022, a figure that has been growing steadily for years and is set to continue to do so in the future. Retailers are taking advantage of these new ways of communicating, and some are even setting up their own media agencies.

Implementing a successful retail media strategy

A successful retail media strategy relies on campaigns with a good ROI (Return on Investment). To achieve this, you need to choose the most appropriate locations for your target, with partners and retailers who have an affinity with your brand. You can choose to create online advertising campaigns visible on a merchant site, or to broadcast your ads on screens for dynamic outdoor advertising. To attract the attention of your target customers or prospects, you can use clear, attractive CTAs (Call To Action). Rely on attractive communication by offering a discount, for example, to encourage purchases.

Cenareo with you 

Are you a retailer looking for a partner to join this promising movement?

There are two stages to embarking on the road to retail media aka the future of advertising investment:

1. The first is to consolidate and analyze your internal data, so that you know your audience and the potential of your "media assets" inside out. This will give you a clearer picture of your ability to monetize your in-store screens to partners, suppliers and other brands with whom you have a commercial affinity.
2. The second is to find an expert partner who can accompany you in this new era and help you choose, place and control your screens:

• Cenareo is an expert in screen monetization, and has been working for many years with major French advertising agencies. 

• Our powerful, intelligent algorithm, coupled with a highly intuitive platform, enables you to program advertising campaigns and easily allocate airtime using shares of voice. 
• The choice of programming depends on the broadcast context and your different screens. Every detail is considered to ensure relevant and effective communication. Our solution is based on hyper-contextualization, which enables us to target audiences with the most relevant content via numerous broadcast criteria, guaranteeing that your advertisers achieve their objectives. 
• Last but not least, our support enables you to easily export distribution reports and statistics to certify contract compliance and analyze spin-offs.

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