So quickly do the tides of commerce, commercialism, and consumerism churn that the second wave of retail media networks is already upon grocers and retailers. AI acts as a catalyst for nascent and established technologies within different brands’ media networks, increasing efficiency and helping further winnow down consumer demographics and help craft singular, targeted ads that speak to shoppers’ mindsets, past purchases, seasonal habits, and predicted dwell time and spend.
And if you’re not in the game, you’re not in the money.
According to a recent report from eMarketer, 82% of U.S. advertisers plan to increase their spending levels with retail media networks this year; the largest windfalls should arrive in consumer electronics, beauty, jewelry, and – critically – CPG.
“As the industry grows, we should expect more retailers across all industries to build out their own retail media networks,” said Maren Kelly, vice president of marketing at PriceSpyder, to The Food Institute, “and we will most likely see smaller retailers looking to build these out as well.”
Last October, for instance, Aldi developed a new digital commerce platform with Spryker for its American e-commerce market as it also debuted a totally revamped website this September that focuses on the retailer’s grocery inventory and divided into staple items and high-frequency purchases such as deli, dairy and eggs, snacks, bakery, and more.
“The new digital commerce platform will offer grocery delivery or curbside pickup, providing yet another way for Aldi U.S. shoppers to save time and money,” said Scott Palton, Aldi’s vice president of national buying, to Winsight Grocery Business. Walmart has been doing gangbusters in grocery delivery while Target continues to enjoy robust returns from curbside delivery. Aldi now has both.
Credit: https://foodinstitute.com/focus/the-age-of-retail-media-networks-2-0-is-already-here/