Growing Retail Media Network (RMN) capabilities are helping U.S. retailers tap into the impulse spend economy, encouraging shoppers to make unplanned, spontaneous purchases of products advertised in-store, according to the latest research from ADvendio, the leading omnichannel advertising solution provider.
Original research of over 1,000 U.S. shoppers by ADvendio revealed that over two-thirds (67%) had bought a product that they had not intended to buy after seeing it advertised to them in-store, rising to over three-quarters (78%) of Millennials. With U.S. shoppers spending an average of $151 a month on impulse buys and making an average of 6 impulse purchases, in-store ad capabilities are helping retailers capitalize on these spontaneous spending moments and open up new revenue streams.
Almost two thirds (64%) of U.S. consumers polled by ADvendio consider themselves to be the most impulsive when shopping in-store, highlighting the effectiveness of retail media ads in engaging shoppers at the shelf-edge. And demand for in-store ads and product recommendations among shoppers is also increasing; now, over half (54%) would like more digital ads at the shelf-edge to inform their buying decisions.
When it came to trying out new products, almost half (48%) said immersive digital adverts about products in-store would make them more likely to try an item they hadn’t bought before, while 50% said immersive digital adverts about merchandise in the store helps validate their purchasing decisions for products they already buy.
Samantha Giaver, Head of Growth at ADvendio, commented: “Marketing at the point of purchase is powerful. When Walmart Connect talks about the ‘Super Bowl-sized audiences’ that its brick-and-mortar stores can offer 3rd party brands each week, it shows the vast scale and potential of retail media. Retailers who own the first-party data that brands crave can shape more tailored and relevant messaging that triggers impulse buys and increase the chances of triggering a sale from their ad spend, bringing 3rd party brands closer to conversion-ready shoppers in-store.”