64% of CPGs Will Increase Retail Media Spending in 2023

64% of CPGs Will Increase Retail Media Spending in 2023

Exclusive research identifies what brands expect in terms of reach and ROI

CPG brands currently invest about a fifth of their marketing budgets in retail media networks and 64% expect to increase their retail media spend in the coming year. But as their spending grows, so does their expectation for a return on these investments.

These figures come from an exclusive Wakefield Research report commissioned by LiveRamp. “Specificity & Scale: The Future of Retail Media Networks Means Providing Both” is based on a survey of 500 U.S. CPG executives at brands with an average annual advertising spend of $100 million or more.

The research report’s key findings include:

  • Balancing targeting and scale: About half of CPGs want a more targeted audience, but they don’t want specificity to come at the cost of audience size and scale.
  • Looking for retail media connections: 97% of CPG executives would invest more in smaller retail media networks if they were interoperable with other networks.
  • Data privacy is table stakes: 43% of CPG decision makers say that data privacy assurance is a must-have when selecting a retail media network.

Retail media is transforming into the ideal solution for CPG advertisers. Get the best return on your spend and download the report.