Microsoft prepares its debut in retail media. The company has announced the pilot launch of Microsoft Retail Advertising Network, which will allow retailers to monetize their website traffic. As he explained in a statement, the brands that use the Microsoft Advertising platform They will be able to set up their campaigns to run ads on Microsoft and partner properties, as well as on the website of retailers participating in the Microsoft Retail Advertising Network.
Retail Media Advertising Network is part of the offers PromoteIQa retail advertising startup that Microsoft acquired in 2019 as it sought to compete with its rival’s fast-growing advertising business Amazon. Microsoft has worked with brands like Kohl’s, kroger Y Office Depot as part of the PromoteIQ business. In a year when many retailers have launched their Retail Media networks, Microsoft has opted to create this platform that will help streamline the purchase of ads on all channels.
Microsoft is also rolling out new features under the PromoteIQ umbrella. One of them is PromoteIQ Offsite, which will allow retailers to activate their first-party audience data to help their brand partners reach shoppers using third-party inventory across the open web and social media. Starting next February, PromoteIQ Offsite It will allow retailers to leverage their own first-party data, as well as Microsoft and initially Meta audiences, including similar modeling capabilities, for maximum targeting effectiveness.
In parallel, the company has presented PromoteIQ In-Store with the goal of supporting retailers as they innovate with content and hardware partners on activations of retail media in the shop. PromoteIQ In-Store will be available in the next 12 months. “Because in-store it requires physical setup and additional equipment, including digital signage, we are working with partners to create an interoperable platform for the ecosystem”have ensured since Microsoft.
“A omnichannel platform enables retailers to meet their shoppers where they are with ever-changing multi-channel behaviors and preferences, while helping their brand partners reach people at all stages of the buying journey, all while delivering a return on measurable investment through a holistic platform experience»has added Kya Sainsbury-Carter, Vice President of Global Partner and Retail Media at Microsoft Advertising. “At Microsoft, we’re powering retail success by creating an economic engine for retailers while empowering them to own their data and customer relationships”has reiterated Sainsbury-Carter.
Spending on retail media it will surpass 61,000 million dollars only in the United States by 2024, which represents 20% of the total spending on digital advertising.