Retail Media
Encyclopedia
Retail media is marketing to consumers at or near their point of purchase, or point of choice between competing brands or products. Common techniques include in-store advertising, on-line advertising, sampling, loyalty cards
and coupons or vouchers.
Retail media channels have become established as increasingly important for promoting
goods and services at or near or even further beyond the points of purchase and consumption. Retail media is now being taken very seriously by most traditional media agencies
. Companies partly or wholly devoted to retail media include:
Retail Media originated as media available within the retail environment. This has now developed in to a media discipline in its own right as new retail media channels have been added. Retail Media now reaches outside of the retail environment to encompass media channels such loyalty program
marketing, coupon
ing and door drops, fleet media (retailer's fleet vehicles, etc.).
Though many retail media channels are found inside the retailer's store/environment, the media channels themselves are not always 'owned' or operated by retailers. Many retail media channels are operated independently by specialist media companies who also manage other media outside of the retail environment.
There is potential for conflict of interest between the retailer selling the media and the CPG/FMCG buying the media which is why retailers often engage a third party media owner to operate and sell media space on their behalf.
Retail media networks now offer considerable levels of accountability in providing audience measurement
techniques in the same way as traditional broadcast or print media.
Loyalty program
Loyalty programs are structured marketing efforts that reward, and therefore encourage, loyal buying behavior — behavior which is potentially beneficial to the firm....
and coupons or vouchers.
Retail media channels have become established as increasingly important for promoting
Promotion (marketing)
Promotion is one of the four elements of marketing mix . It is the communication link between sellers and buyers for the purpose of influencing, informing, or persuading a potential buyer's purchasing decision....
goods and services at or near or even further beyond the points of purchase and consumption. Retail media is now being taken very seriously by most traditional media agencies
Media agency
A media agency is a company which help companies to communicate with current and potential consumers and/or the general public.These agencies work with their clients to understand the business issues, their markets and their consumers...
. Companies partly or wholly devoted to retail media include:
- Redbus Media Group (www.redbusmedia.com) who operate in-store media networks across a number of UK retailers along with other out of home media businesses;
- Blueprint (who specialise in retail magazine publishing and media for Asda);
- Capture (A Shopper Marketing agency who plan and buy campaigns involving retail media);
- dRM (dunnhumby Retail Media)who handle some of Tesco Retail Media; and
- ABC Media, who sell the retail media for the Co-op.
Retail Media originated as media available within the retail environment. This has now developed in to a media discipline in its own right as new retail media channels have been added. Retail Media now reaches outside of the retail environment to encompass media channels such loyalty program
Loyalty program
Loyalty programs are structured marketing efforts that reward, and therefore encourage, loyal buying behavior — behavior which is potentially beneficial to the firm....
marketing, coupon
Coupon
In marketing, a coupon is a ticket or document that can be exchanged for a financial discount or rebate when purchasing a product. Customarily, coupons are issued by manufacturers of consumer packaged goods or by retailers, to be used in retail stores as a part of sales promotions...
ing and door drops, fleet media (retailer's fleet vehicles, etc.).
Though many retail media channels are found inside the retailer's store/environment, the media channels themselves are not always 'owned' or operated by retailers. Many retail media channels are operated independently by specialist media companies who also manage other media outside of the retail environment.
Retail media, context and targeting
Retail Media channels are to a large extent defined by the context of the retailer. The majority of retail media channels reach their audience at or near the point of purchase or point of choice. Research suggests media placed at or near the points of choice/purchase can have a significant impact on purchasing decisions (PoS) 1 Media owners and agencies have made significant headway in recent years in understanding the true value of retail media channels.There is potential for conflict of interest between the retailer selling the media and the CPG/FMCG buying the media which is why retailers often engage a third party media owner to operate and sell media space on their behalf.
Retail media challenges
- Audience measures: There are several methods for evaluating the audience for retail media, whether total footfall, segmented audiences or sales uplift attributed to retail media channels
- Buying process: Dependent on the retailer, product, sales cycle and retail media channel etc., there different media sales cycles to fit the particular requirement.
Retail media agencies
Due to the specialized nature of Retail Media programs, advertisers are increasingly turning to dedicated Retail Media agencies to facilitate shopper-targeted campaigns. Retail Media agencies such as Triad Retail Media help connect retailers such as Walmart and Sam's Club with brands that are interested in presenting their message to consumers while they are navigating the path to purchase.Retail media networks
Retail media networks are channels spanning individual retailers or a multitude of retailers. They can range from static posters, POS material, audio, visual/digital and many things in between. Networks can therefore provide narrow cast and broadcast audience buying solutions. As shoppers spend time in stores, it becomes difficult for them to avoid in-store advertising and this can have real benefits for advertisers, who not only can ensure their campaigns are seen, but that they can also be acted upon, especially if the advertised product is available in the store.Retail media networks now offer considerable levels of accountability in providing audience measurement
Audience measurement
Audience measurement measures how many people are in an audience, usually in relation to radio listenership and television viewership, but also in relation to newspaper and magazine readership and, increasingly, web traffic on websites...
techniques in the same way as traditional broadcast or print media.