Retail media is advert tech’s favourite new shiny object. (Apart from CTV, in fact.)
Advert spending tied to retail media is predicted to develop by greater than 31% this yr to $40.81 billion, based on Insider Intelligence. That quantity it set to hit $61.15 billion in 2024 and make up nearly 20% of all digital advert spend.
However there are some obstacles standing in the best way.
One of many greatest roadblocks is an absence of standardized measurement – however patrons are beginning to demand it, says Kristi Argyilan, SVP of retail media at Albertsons Corporations, which she joined in 2021. Earlier than that, Argyilan was the driving drive behind the launch and rollout of Goal’s Roundel media community.
Client-packaged items corporations specifically, that are the heaviest patrons of stock on retail media networks, want extra accessible instruments to purchase and measure throughout a number of RMNs or they’ll burn out.
There are solely so many mini walled gardens an advertiser might be anticipated to navigate.
CPG bands are “in a spot the place they’re having to construct out their group in order that they’ll handle the variations between [RMNs],” Argyilan says on this week’s episode of AdExchanger Talks. “Retail media networks are mature sufficient now to have the ability to derive extra from an industrywide dialog.”
There was some progress in that trade organizations, together with the Affiliation of Nationwide Advertisers, are placing buy-side stress on retail media networks to work collectively on cross-platform measurement initiatives.
“One of many issues we’re listening to loud and clear from our shoppers,” Argyilan says, “is that it’s too difficult for each one among us to have our personal little walled backyard and our personal distinctive platform that they should go to as a way to transact.”
Additionally on this episode: The thin on why Albertsons took its retail media community in home, noodling the query of whether or not there’s sufficient RMN provide to fulfill demand (which is the place programmatic is available in), why retailers have to band collectively within the title of measurement requirements à la broadcasters and Argyilan’s private connection to Transylvania.
