- Retail Media, primarily used to drive sales, is moving beyond paid search formats
For most marketers, retail media remains a lower funnel channel to drive sales conversion: less than a third (30%) of respondents surveyed by WARC and the Digital Shelf Institute use retail media to build brand awareness.
However, retail media networks are increasingly moving beyond search formats into video, audio and out-of-home through cross-channel partnerships, such as Walmart’s tie up with Roku and Kroger’s deal with Pandora.
This enables the unlocking of upper-funnel ad dollars with brand-building formats to improve campaign effectiveness.
Mudit Jaju, Global Commerce Media Lead, Publicis Groupe, said: “To me, the most exciting thing happening is that retail media is no longer limited as this end-of-the-funnel conversion channel.”
- Retail Media is becoming a ‘pay to play’ environment for advertisers
Analysis of WARC Digital Commerce’s latest dComm Index data for Amazon found that Starbucks has emerged into a leadership position in the coffee and tea category following it having the
highest (9.1%) paid share of voice (SOV) in the category. WARC analysis observed that a one percentage point change in Starbucks’ paid SOV is typically followed by a c.$1.6m increase or decline in Amazon sales.
Read a complimentary sample report of WARC Global Ad Trends: Retail media’s path to consolidation here. A WARC podcast discussing the findings outlined in the report is available to tune into from today.
Global Ad Trends, is a quarterly report which draws on WARC’s dataset of advertising and media intelligence to take a holistic view on current industry developments. It is part of WARC Media, which provides rigorous and accurate benchmarks aggregated and verified from over 100 reputable sources, empowering media decision makers to plan strategies with precision. WARC Media is available by subscription.
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