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Between the pandemic and privacy, many brands are getting hit with a one-two punch. But there’s no question in anyone’s mind that the digital champion emerging in this new world is retail media.
In essence, retail media refers to advertising tied to a marketer’s physical or digital store shelf or point-of-sale. The pandemic’s acceleration of ecommerce is well-known. The full impacts of a privacy-based web have yet to be seen, however.
But, if you’re a retailer with strong first-party data collection (and historical first-party data), a path to monetization has been cleared for you.
When you put those two things together, you see why retail media is booming, along with the opportunities for brands to grow using easily accessible advertising opportunities inside Instacart and Walmart.