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Between the pandemic and privacy concerns, many brands are getting hit with a one-two punch. But with challenges come opportunities, and major retailers, including Amazon, Best Buy, Home Depot, Target, and Walmart, are rolling out new options for data that are safe and secure.
McKinsey & Company’s Quentin George stopped by Adweek’s Mediaweek to discuss the rise of retail media networks and the opportunity to create more accountable advertising in this new normal.
Introducing the retail media network
As brands scramble to find new ways to connect with consumers and earn their trust when it comes to collecting data, we’re seeing a rise in first-party data.
“Retail media networks are born out of the notion that first-party data is a valuable asset,” George said.