The rise in retail media is one of the hottest topics in marketing today.
It’s no mystery that the pandemic has massively changed consumer behavior and usher in rampant digital transformation globally. One sector that seems to have benefited the most in these times is ecommerce. Where it used to be just one of many options we had when it came to making a purchase, ecommerce instead became the primary method of shopping.
Pandemic-related boosts in online shopping resulted in an additional $174.87 billion in ecommerce revenue for 2020, Digital Commerce 360 estimated. If it weren’t for the bump in online sales from the pandemic, the $861.12 billion in ecommerce sales wouldn’t have materialized until 2022. And with that comes a related increase in spending by brands advertising on those same sites.
In fact, 76 percent of brand marketers now agree that “growth of [their] business depends on retail media advertising.”
So what are the opportunities for brands who invest in …