Just as the Covid-19 lockdown significantly accelerated the use of video conferencing, an increasing number of brands, and agencies have recognised the potential of online Retail Media as a vital with more shopping is taking place on ecommerce websites than ever before.
‘Retail Media’ – the placement of brand-funded ads on retailer sites and apps – was already growing in popularity in recent years, but the unprecedented global shutdown has thrust the solution firmly into the retail marketers’ spotlight.
Criteo and The Drum are collaborating to host a webinar – Retail Media: the time is now - to exploring the key advantages available to retailers and brands alike. The Drum Network editor Chris Sutcliffe will be joined by Criteo’s Northern Europe Head of Retail Media Demand, Nicole Kivel, Criteo Northern Europe Head of Retail Media Supply, Yara Daher and Stuart Johnston, Publicis omnichannel commerce director, to discuss the following topics.
- The massive growth of ecommerce and why Retail Media is a critical tool for retailers and brands right now;
- The Retail Media ecosystem: who’s involved, how it works, and why it combats ‘walled gardens’;
- Why Retail Media represents a ‘win-win-win’ for consumers, retailers, and brands alike.
Sutcliffe said: “Thanks to the growth in ecommerce, high street retail was already under serious pressure long before Covid-19 came along. However, the lockdown has massively accelerated the trend towards investment in Retail Media platforms. Quite simply, Retail Media feels like the right solution at the right time.
“Retailers need new revenue streams in order to continue to operate profitably and keep product costs low for consumers. Brands need more relevant ways to promote products to consumers, without relying on third party cookies, as well as ways to tie media spend to sales outcomes.”
Criteo operates an integrated Media Retail platform that solves key challenges for both retailers and brands.
Kivel added: “With shopping increasingly moving toward ecommerce, we’ve hit a key moment. Retail Media offers retailers the opportunity to tap into budgets outside of shopper and trade marketing and attract funds from major media agencies looking to drive more results for brands. That said, for Retail Media to reach its full potential, retailers and brands must evolve.”
Daher said, “Retailers need to act more like traditional media publishers and respond to the needs of brands and media buying agencies. Retail Media has the potential to strengthen and deepen the relationship between retailers and brands. Criteo’s platform offers a self-service solution that allows brands and retailers to address shoppers close to the point of purchase, all while delivering a seamless, personalized and highly relevant experience to the customer.”
Johnston added, “It’s pretty much a given that most players in the FMCG space will be trialling or looking to scale some form of retail media to some extent; putting it bluntly, not engaging now puts your share of the digital shelf at risk.”
The webinar will explore in detail what each side of the retail ecosystem needs to contribute in order for it to be healthy and successful.
‘Retail Media: the time is now’ takes place on 30 September, at 3pm BST, and will be available live and then on catch-up via The Drum.