Retail media is one of the most discussed topics in the industry today, with a new retail media network being launched every 1-2 months. Indeed, 81% of consumer packaged goods brands plan to grow investments in retail media networks in the next 12 months, making it a very lucrative solution for retailers seeking to monetize their data and media assets.
If leveraged properly, organizations can drastically increase their revenue streams by utilizing retail media opportunities. Forrester estimates that by next year, retail media will be a $50 billion advertising business globally. Amazon enjoys $10 billion in revenue from its retail media network, similar to other retail giants like Walmart, Target, and Kroger.While the opportunities retail media networks offer are significant, their benefits need not be available to retail giants alone. How can smaller retailers access the potential benefits provided by retail media?