Horizon Launches AI-Powered Retail Media Platform

As advertisers shift a significant portion of their digital media investments to retail media, they often lack the necessary intellectual property to make the right investment decisions to increase income. Now, Night Market, ecommerce company Horizon MediaHe has launched Neona artificial intelligence (AI) platform that will allow advertisers to better understand where to direct their spend on retail mediaas well as which retailers are offering the best results.

“Commerce and media data have been extensively analyzed independently of each other, and we saw an opportunity to combine these data sets to optimize retail media spend to drive revenue results”has indicated in a statement Randy Browning, President of Night Marketwho added that while individual retailers have an understanding of how media works within their own networks, “Neon aims to provide advertisers with a similar level of awareness across different retailers”.

Neon brings together mixed media models, sales data, and retail campaign performance data to make their return on investment (ROI) predictions. Furthermore, it predicts a optimal investment in Retail Media between retailers and 3P channels like Amazon and Walmart, down to the tactical level to achieve a revenue target, optimize market spend in real time by automatically predicting thousands of micro-optimizations across all retailers or by tactic with a specific retailer to improve true ROI, and evolve the merchandising of the product display pages (PDPs) to predict the conversion potential media send to the page. This directs the media to the PDPs of better customer performance across all retailers and compared to competing PDPs within a retailer.

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Horizon has ensured that the platform has been designed to deliver a 20% increase in revenue results related to Retail Meida, and has advanced that it has already been working with Hershey in the early stages of the platform. “We at Hershey have been very impressed with Night Market’s Neon toolset and the potential to accelerate our business in Retail Media measurement and product merchandising”has underlined Eric Bowers, Senior Director of Omnichannel Marketing at The Hershey Company.

The latest forecast for GroupM estimated that retailers worldwide earned $88 billion in revenue from ad sales last year, a number he expects to reach $101 billion, roughly 18% of digital advertising and 11% of all advertising. Furthermore, he predicted that advertising in Retail Media will grow by approximately 60% by 2027, surpassing that of all digital advertising. Specifically, in the United States, where Retail Media is more developed, forrester predicts that Retail Media spend will double in the next four years.

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