The potential of Retail Media and the challenges it faces

He retail media it has become a key part of advertising strategies. Additionally, the disappearance of third-party cookies is a key driver of ad spend growth in Retail Media. However, as with any new advertising channel, Retail Media is not without its Challenges. Jose Luis Ferrero, Commerce Lead Iberia de Publicis Groupeparticipated last Tuesday in the event ‘Connected 2023’organized by Direct marketingand led the round table ‘The return of Retail Media’ accompanied by other industry experts such as Eva Maria ZaeraAssociate Director of Digital Commercial Development at Coca Cola; jesus sanchoHead of Carrefour Links Spain; Sarah VegaMarketing and Communications Director of Marketing fnac; Marc Perezco-founder and CEO of PlayOffNations; and Daniel GodoyGlobal Head of Programmatic Evangelist for Microsoft.

ferrero began by explaining that “Retail Media is the third wave of advertising”: “First there were sponsored ads on Google or Google SEM, then Social Paid emerged and now the great power that Retail Media has is that brands can attack, defend themselves and present their news at the precise moment of purchase in which the customer is. consumer”. However, he stressed that “We must not stop investing in other tools, but rather combine budgets”.

next, vega I continue affirming what Ferrero had said, while adding that “A big challenge is that some brands do not understand the real meaning of Retail Media since they do not see it as a media budget and dedicate exclusively Trade budget”. By your side, Sancho introduced the ‘joint venture’ of Publicis Groupe and Carrefour, which stood out as “a winning project that aims to unite and add”. In addition, he stressed that “Retail Media has been around for years and little by little it is growing and evolving”.

For him co-founder and CEO of PlayOffNations “It is the retailers themselves who have to work with their own databases”. perez He presented a success story of his company PlayOffNations in which they were able to impact the user thanks to the differential value that this provided, achieving an almost instantaneous purchase of the advertised product.

In the words of zaera, “Retail Media is a great opportunity for brands”, since “being able to impact the audience when it is in that last stage of the funnel is very enriching”. However, he commented on four wishes that would be in his letter to the Three Wise Men: adoption of this tool by more retailers, homogenization (data equality), traceability, and physical logistics.

Finally, Godoy talked about the new Microsoft product, PromoteIQ, a new Retail Media service that allows large-scale traceability since, in addition to working on the retailer’s website, it also works offline. In short, the experts highlighted the potential of Retail Media as a tool to impact the moment of consumer purchase and its need to combine budgets with other advertising tools, in addition to commenting on the challenges currently faced.

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