Exploring Opportunities in the Retail Media Advertising Platform Market (2023-2030)

Exploring Opportunities in the Retail Media Advertising Platform Market (2023-2030)Infinity Business Insights introduced a new report recently titled “Retail Media Advertising Platform Market” that contains a critical assessment of the retail advertising market and insights into the future growth opportunities, development trends, and forecast trends up to 2030.

A retail media network is an advertising platform a digital company offers to third-party businesses for their varied advertising purposes. The popularity of digital marketing is constantly growing, and retailers recognize the need for digital channels to promote their brands, engage shoppers, and expand their business.

The Retail Media Advertising Landscape

In simple terms, retail media is the digital counterpart to in-store ads, which is crucial for brands to undertake their marketing strategies in an evolving advertising industry. Utilizing the retail media network for your brand has a wide range of benefits. Some are as follows:

  • Brands can reach the relevant audience
  • Customers can find the products they need
  • Strong partnerships or alliances with similar brands
  • Brands can acquire first-party data to gain authentic and valuable insights

Retail Media is becoming an important aspect of the advertising journey for brands as more and more businesses are looking to optimize their ad spend and reach relevant audiences for conversion success.

Retail Media Advertising Platform Market 2023-2030

The Retail Media Advertising Platform Market provides valuable insights to marketers, such as industry analysis, the global status of the market, growth opportunities, key players in the global market, future forecasts extending to the year 2030, etc.

The report focuses on the growth and development of the retail market platform, and it offers an in-depth evaluation of each aspect related to the market size, share, growth factor, industry trends, top regions, product demand, capacity, cost structure, etc.

The major players in the retail advertising market include Microsoft, Fujitsu, IBM, Veritas Technologies, MSP 360, Veeam Software, Rackspace Technology, Commvault, VMware, Altaro Software, Unitrends, Quest Software, Acronis, Vembu Technologies Pvt Ltd, TechGenix, Micro Focus, Cohesity, Arcserve, Storix and Cisco System.

Moreover, the report specifies some remarkable advancements in the retail media market in recent years. The report provides reliable forecasts for market value and volume. Furthermore, the report conducts an in-depth examination of the trends in major regions, drivers, and restraints, providing valuable insights for the readers.

Key Features

A few Key Features of the Retail Media Advertising Report are as follows:

  • Detailed analysis of the retail market
  • Comprehensive Understanding of the global Retail Media Advertising Platform
  • Highlighting the various market strategies the leading companies adopted
  • A detailed description of the future scope and outlook of the market
  • Close examination of all leading organizations and players responsible for the industrial development
  • Thorough research and extensive study on the different regional and country industry

Emerging Opportunities in Retail Media Advertising

Retail Media Advertising is a thriving industry. According to a Morgan Stanley Report, by 2025, retail advertising will be $130 billion, with retailers and ad tech firms grabbing $104 billion and $26 billion, respectively. Following are a few excellent opportunities to make the most out of your marketing efforts.

Consider Off-site Marketing

Research by Epsilon found that only 37% of retailers have off-site programmatic advertising. What this indicates for emerging retailers is that there’s a huge opportunity to be seen here. Most in-site shoppers never find out or search for the retailer-owned website. For instance, 80% of shoppers who purchased the products never visited the retailer’s owned website.

Expanding your advertising from on-site to off-site can be challenging, and many retailers are new to the retailing game. Still, with the right assistance and guidance, retailers can discover the advertising landscape and improve their chances of reaching and engaging their customers.

Adopt people-based targeting and reporting

For your advertising efforts to prove effective, you must consider switching to people-based targeting and omnichannel reporting. An Epsilon research found that at least half of retail media networks are inefficient at effectively targeting and reporting.

The solutions are simple. Incorporate the following two crucial attributes into your retail advertising market and witness the magic of success.

  • People-based or individual-level targeting helps activate personalized ads across every touch point.
  • Omnichannel reporting allows brands to evaluate campaign performance and measure outcomes seamlessly.

With the help of these two attributes, customers can receive unique messaging, and retailers can better analyze, optimize, and measure brand campaigns.

Promote Data Collaboration

Epsilon’s research found that 70% of respondents said data collaboration is crucial to their advertising strategy. Data collaboration technologies are vital in encouraging collaboration, activation, and measurement with first-party data and a privacy-safe environment.

Utilizing such technologies can help brands and retailers collaborate and gain valuable insights into their target audiences to develop effective activation strategies.

Embrace conscious consumerism

GenZ, the age group born roughly between the late 1990s and early 2010s, is a generation that holds immense spending power and brings unique values to the table, which hugely shapes their consumption habits in the retail media market realm.

Values such as sustainability, inclusion, diversity, and affordability are all crucial aspects that advertisers should look into to effectively engage with GenZ consumers. Many marketers understand that reaching the GenZ audience means aligning their advertisements with their values and actively reaching them through digital channels.

Moreover, conscious consumerism is very close to the GenZ crowd, and they actively seek out products and brands that align with their values and contribute positively to the environment. By tapping into GenZ’s values, marketers can capture the interest and loyalty of the crowd, expand their brand’s reach, and maximize conversions.

Wrapping Up

Retail Media Advertising Network isn’t as complicated as it may seem and is quite straightforward for marketers to understand. In simple words, retail media can be considered a “digital shelf” that helps brands further increase their visibility to the target audience. It is equivalent to promos and deals that stand out to the shoppers in physical stores.

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