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1、Retail Media Research Report Your Guide to Growth and Better Shopper Experiences 2023The State of Retail Media in 2023 The key factors that shaped this years retail media trends and survey results03Whats Now For Retailers Where retail media networks(RMNs)should focus their immediate efforts to achie

2、ve growth 07Whats Now For Brands The top priorities for brands who want to maximize their opportunities in the increasingly crowded landscape29Whats Next?The top trends that will shape retail media in 202450Whats inside Unless hyperlinked to an external source,all statistics used in this report are

3、from Merkles proprietary research.22023 RETAIL MEDIA RESEARCH REPORT The State of Retail Media 2023 32023 RETAIL MEDIA RESEARCH REPORT Whats New This Year?The key factors influencing the retail media landscape in 2023CONTINUED EXPANSION,with several new entrants in grocery and ecommerce-owned.This c

4、reates a more complex landscape with greater variance in capabilities across RMNs.BRANDS SPLITTING THEIR INVESTMENTS ACROSS MORE RMNS,increasing the need for RMNs to know what they stand for and create a value exchange.INNOVATION FROM ESTABLISHED RMNS to stay ahead of new entrants,fueled by top conc

5、erns of competition and developing solutions for new ad products.PURSUIT OF FIRST-PARTY DATA to enhance brands customer profiles and inform budget planning,especially as shopper touchpoints increase.INVESTMENT AND INTEREST IN UNITING IN-STORE AND DIGITAL CAPABILITIES as the definitions of retail med

6、ia and the shopper journey become more nuanced.42023 RETAIL MEDIA RESEARCH REPORT 2023 brought a more complex landscapeAll trademarks are owned by their respective owners.Nothing in these materials is intended to assert an affiliation between Merkle Inc.and the companies referenced by their trademar

7、ks.AGGREGATED MARKETPLACESGROCERYDEPARTMENT STORESPECIALTY OFFICE&HOME IMPROVEMENT MASS/DOLLAR/CLUBBEAUTY&PHARMACY E-Commerce OwnedAggregated MarketplacesNon-RetailerOwnedRetailer-OwnedDELIVERYSPECIALTYNON-RETAILER OWNED52023 RETAIL MEDIA RESEARCH REPORT Amazon is no longer the only game in town.Thi

8、s has been true for a few years but reinforces the increasing competition for retail media budgets in 2023.Only 49%of brands reported working with Amazon in this years survey,with investments spread across 41 unique RMNs.62023 RETAIL MEDIA RESEARCH REPORT Whats Now for Retailers72023 RETAIL MEDIA RE

9、SEARCH REPORT Emerging RMNs have high expectations as they enter the fastest-growing area for media investments but in a crowded space,that becomes more challenging.To compete(and grow),retailers need to build an innovative,differentiated strategy.91%of RMNs expect growth in the next three years.How

10、 does that happen?Show that you can help brands create more personalized experiences for shoppers through data,omnichannel offerings,and partnerships.How do you expect your RMN revenue to change over the next three years?Increase by 75%+Increase by 50-75%0%10%20%30%40%50%60%Increase by 25-50%Increas

11、e by 25%Decrease by1-25%Decrease by 25-50%1-Stay the same2023202282023 RETAIL MEDIA RESEARCH REPORT Our Top Recommendations to Achieve RMN Growth02Show up where your shoppers are and anticipate where theyll be next.CREATE A COMMERCE-EVERYWHERE EXPERIENCE01Use your data to help brands better understa

12、nd and engage their audiences.UNLOCK NEW REVENUE STREAMS WITH YOUR DATA03Make it easy for your brands to carry relevant,consistent conversations with shoppers.USE CREATIVE AS A DIFFERENTIATOR FOR BRANDS AND CUSTOMERS04Enable brands to see what youre doing to help them reach their customer better.USE

13、 A BRAND-CENTERED SALES APPROACH92023 RETAIL MEDIA RESEARCH REPORT The top two reasons brands work with retail media networks are about their shoppers.They want to know them better,and they want to engage with them in relevant ways.First-party data has become a critical offering for RMNs to help bra

14、nds reach both their shopper experience and performance goals.A recent change is that brands can now buy audience insights without media to create a better picture of their customer.Brands are speaking loud and clear:they want to know their shoppers.To better understand the shopper at the retailer58

15、%To deliver more personalized communications50%To build a stronger partnership with the retailer47%To prepare for changes due to third-party cookie deprecation44%42%To buy media thats close to the point of purchase42%To create a better shopping experience24%Feel compelled to as part of merchant nego

16、tiationsWhy do you work with Retail Media Networks?0201UNLOCK NEW REVENUE STREAMS WITH YOUR DATA0304102023 RETAIL MEDIA RESEARCH REPORT But retailers are sending mixed signals when it comes to non-media solutions.They drive more than 20%of RMN revenue for the vast majority of RMNs,yet its not a majo

17、r focus for monetization investments.0%10%20%30%40%50%60%1%-20%21%-40%41%-60%61%-80%Of this gross annual value,how much is going to Non-Media Solutions(for example,data and audience insights without media)?0201UNLOCK NEW REVENUE STREAMS WITH YOUR DATA0304112023 RETAIL MEDIA RESEARCH REPORT and there

18、s an opportunity to step in where other RMNs arent investing.First-party data can add revenue for your RMN beyond media placements.How can you best capitalize on the opportunity?Package the data right.Quality beats quantity a curated,relevant audience is easier to use than a full customer file.Co-mi

19、ngle data in a privacy-safe clean room.This creates a robust view of the customer in a single place,enabling you and the brand to better serve your audiences.47%of brands want data and insights without media Offer data product without having to buy the media42%14%33%Lower CPMs31%Provide more timely

20、access to reporting and optimizations22%Closer link to merchant teams within the retailerProvide greater personalization tools like dynamic creative or dynamic pricingWhere can retail media networks add more value to the brand/advertiser relationship?Make it easier to buy through automation tools56%

21、Offer insights products without having to buy the media47%Greater partnership opportunities44%0201UNLOCK NEW REVENUE STREAMS WITH YOUR DATA0304122023 RETAIL MEDIA RESEARCH REPORT Retailers play many key roles throughout the shopping journey,whether thats research,onsite commerce,or in-store transact

22、ions.There are more connection points than ever to help you understand your shoppers 132023 RETAIL MEDIA RESEARCH REPORT In 2023,retailers heavily invested in areas reflecting commerce-everywhere priorities.Four of the top five monetization investment areas for RMNs this year fell outside of onsite

23、media.You have those connection points because commerce is happening everywhere.In-store digital media33%9%Self-serve portal for brands/advertisers to launch campaigns20%19%Search37%19%31%26%Onsite(.com)banner ads&display advertising16%19%Addressable/connected TV16%30%Creative testing27%43%Email spo

24、nsorship16%19%Dynamic creative optimization25%13%Data-driven content personalization14%15%Custom audience segmentation23%31%Onsite(.com)brand pages22%11%Off-site media display13%15%Data and first party audience insights without media20%22%Off-site media video11%15%Self-serve portal or dashboard for

25、reporting4%5%Closed loop reportingSocial media(buying media from Facebook,Pinterest,etc.to resell as co-op media to your brands/advertisers)58%72%Which monetization solutions are you most heavily investing in this year?CREATE A COMMERCE-EVERYWHERE EXPERIENCE02022142023 RETAIL MEDIA RESEAR

26、CH REPORT Onsite media used to reign supreme,but the split between onsite and offsite campaigns in 2023 was almost 50/50.This shows the need for RMNs to have onsite,offsite,and in-store capabilities in their omnichannel media offering.We also see commerce-everywhere priorities in places where media

27、campaigns are happening.What percentage of campaigns run offsite(purchased media)versus onsite(your owned and operated properties)?46%54%OnsiteOffsiteCREATE A COMMERCE-EVERYWHERE EXPERIENCE020 RETAIL MEDIA RESEARCH REPORT Data and insights connect these three areas to enable a commerce-ev

28、erywhere experience.Fewer retailers reported seeing the connectioncompared to last year,illuminating the organizational challenges and competing objectives that arise when thinking about the shopper.A connection between retail media,shopper,and loyalty strategies is a must.Do you see a connection be

29、tween retail media and shopper and loyalty strategies?36%62%2%Yes,we see them all working together frequentlySometimes-on occasion,budgets and/or strategies across the three areas work togetherNo,budgets and strategies are always handled separatelyCREATE A COMMERCE-EVERYWHERE EXPERIENCE0201030416202

30、3 RETAIL MEDIA RESEARCH REPORT A commerce-everywhere approach aligns with top 2023 RMN opportunities.Forge deeper partnerships with technology&media partners:more offsite investments create stronger relationships.Build a strongerconnection between merchant&retail teams:this is a stepping stone to mo

31、ve toward commerce-everywhere.Grow brand incremental investments:commerce-everywhere opens new avenues for brand investment and your revenue.A commerce-everywhere mindset can support your other RMN goals.Develop a stand-alone business unit with its own P&L13%13%Grow advertisers/brands incremental in

32、vestments22%6%Solidify partnerships with endemic advertisers/brands22%39%Monetize first party data17%39%Ensure you have a competitive solution to the current RMN landscape17%2%Monetize insights for advertisers/brands19%41%Provide a way to partner with non-endemic advertisers/brands11%20%Provide grea

33、ter personalization for shoppers17%20%20232022What are the two largest opportunities for your digital retail media business?Create deepre partnerships with technology companies and media platforms(Google,Facebook,Criteo)41%20%CREATE A COMMERCE-EVERYWHERE EXPERIENCE020 RETAIL MEDIA RESEARC

34、H REPORT The top factor this year when deciding which tech to use for an RMN was ability to scale onsite,offsite,and in-store but only 25%of retailers are thinking that way.Jump on the opportunity to weigh this heavily in your tech decisions to deliver value that matters to brands.Actively seeking a

35、 monetization partner?Google(80%),Amazon(77%),and Salesforce(50%)were the most-used partners in this years survey.If youre struggling to find the right partner,youre not alone:it was the biggest challenge for scaling digital retail media business in this years survey(36%).Set the foundation for a co

36、mmerce-everywhere approach with the right tech.Built-in access to existing advertisers5%4%Reputation of partner16%7%Ease of implementation14%31%Commercial terms and/or cost11%30%The innovation roadmap8%17%Managed service component11%2%Ability to scale onsite/offsite/in-store25%9%What is the top fact

37、or when deciding which technology to use for your retail media network?20232022CREATE A COMMERCE-EVERYWHERE EXPERIENCE020 RETAIL MEDIA RESEARCH REPORT The importance of a connection between merchant,loyalty,and RMN teams as a key RMN feature increased 8x from 2022,from 4%to 36%.Lean into

38、this and delight brands by supporting loyalty,promotions,games,and sweepstakes.Stand out by embracing brand initiatives not historically owned by RMNs.CREATE A COMMERCE-EVERYWHERE EXPERIENCE02010304Which retail enterprise services and partnerships would you like to see offered or bundled with the RM

39、N?Store and web services for new product launches,sampling,etc.58%Loyalty,promotions,games,and sweepstakes53%Customer journey strategy50%Merchant team joint business planning50%Product inventory management47%Creative services28%192023 RETAIL MEDIA RESEARCH REPORT It creates connectivity across the b

40、uying journey and helps the brand tell a consistent story,no matter where theyre engaging with the shopper.Its no surprise,then,that creative capabilities skyrocketed as a key RMN feature for brands year over year.Commerce-everywhere amplifies the need for good creative.Ability to partner in the pla

41、nning process42%50%Managed service options39%50%Transparency with shopper data43%33%Innovation in ad solutions28%26%Onsite ad solutions28%13%Creative capabilities44%4%Connection between Merchant,Loyalty and RMN for easier planning,buying and budgeting36%4%Easy to work with47%67%Self-service options3

42、1%67%What are the key features you look for in a retail media network?31%35%Transparency with reporting25%13%Access to category and brand insightsOffsite ad solutions22%41%20232022202023 RETAIL MEDIA RESEARCH REPORT The top priority for brands with RMN creative is to control branding as much as poss

43、ible,followed closely by self-serve solutions.As more advertisers invest in retail media,they may not all have agency support making self-serve a critical option.Brands echo that creative branding and control are important to them.An RMN creative agency to build my ads if it was cost effective33%35%

44、Dynamic creative optimization28%43%An RMN that will build my creative ads to their specifications28%19%Creative/content testing35%17%Data-driven personalized messaging30%17%The ability to control creative branding as much as possible42%41%Templates that will allow me to get ads into market quickly a

45、nd easily41%25%A self-serve solution to easily upload my content in an RMN-led platform to auto-build different sized ad units39%33%From a creative perspective,which of the following options do you deem important when considering whether to work with a retail media network?20232022USE CREATIVE AS A

46、DIFFRENTIATOR FOR BRANDS AND CUSTOMERS020 RETAIL MEDIA RESEARCH REPORT DCOs automation supports efficiency via feeds and personalization via localized content.It also makes testing faster and easier.Twenty-five percent of RMNs offered DCO to brands as a monetization program in 2023,up fro

47、m 15%in 2022.The vast majority that have it are using it for data-driven personalization and production efficiencies.Dynamic creative optimization(DCO)is the gold standard for scaled personalization.Internal production efficiencies and scaleData-driven personalization of content and creativeRapid te

48、sting capabilitiesHow is dynamic creative optimization leveraged?88%81%31%USE CREATIVE AS A DIFFRENTIATOR FOR BRANDS AND CUSTOMERS020 RETAIL MEDIA RESEARCH REPORT Highly templatized ads are most in-demand,but RMNs more commonly offer moderate templatization.This shows the importance of pl

49、anning your offerings around what brands want and care about.Since brands are most interested in some templatization and self-serve solutions,a combination of the two could be your best bet moving forward.Remember to ask your actual brand partners what they want dont just rely on our data!Theres a d

50、isconnect between what RMNs provide and what brands want.Creative flexibility that freely allows my brand to supply custom ad units to general size specifications25%6%Highly templatized ads built via dynamic creative optimization feeds with brand-supplied SKUs61%33%Moderately templatized to support

51、retailer branding but allowing my brand to supply customized ad elements within designated template64%31%Highly templatized ads with just product,logo,and offer copy provided by my brand47%31%What type of creative flexibility do you desire/offer?RMNs ProvideBrands PreferUSE CREATIVE AS A DIFFRENTIAT

52、OR FOR BRANDS AND CUSTOMERS020 RETAIL MEDIA RESEARCH REPORT As your RMN scales,so too will your creative costs.Currently,only 6%of RMNs profit from their creative.Theres an opportunity to make money on creative with how important it is to brands.Your can choose to pass on some or all cost

53、s to advertisers to help the bottom line.Alternatively,low-cost offshore agency teams can help reduce your overall creative costs to improve profitability.Consider monetizing creative as an additional revenue stream.Absorb creative costs within the enterprise creative teamAbsorb creative costs withi

54、n the retail media network financials/marginPass creative costs on to brands/advertisersA combination of absorbing costs and passing them along to brands/advertisersMark up creative costs to generate additional revenue/profit for our RMNHow do you treat creative costs?83%23%16%11%6%USE CREATIVE AS A

55、 DIFFRENTIATOR FOR BRANDS AND CUSTOMERS020 RETAIL MEDIA RESEARCH REPORT Sixty-nine percent of brands decide where to invest their retail media dollars based on the RMNs marketing efforts.The stakes are high to get it right.Lets dig into how to do it.Youve nailed your data,commerce connect

56、ivity,and creative how do you get brands on board?How do you learn about or research retail media network(s)to determine where to invest marketing dollars?Retail Media Network marketing efforts69%Thought leadership articles/PR news bulletins61%Search56%Sales outreach to my brand56%Industry tradeshow

57、s and events44%Microsites31%Technology or solution partners19%252023 RETAIL MEDIA RESEARCH REPORT Make brands the star of your sales approach so they can see how youll help them.83%of RMNs already use a marketing plan to grow thats a great start!Brands want a strategic partner who understands their

58、business.Use sales to create that relationship by focusing on empathy,marketing expertise,and problem-solving skills.Youll build trust and credibility and set the stage to align on mutually beneficial goals.The top feature brands look for in an RMN is that theyre easy to work with.Do you currently f

59、ollow a marketing plan to grow your retail media network(for example,B2B email campaigns,events,webinars,etc.)?83%17%Yes,we regularly advertise and market our retail media network via B2B channelsWe do limited marketing for our retail media networkUSE A BRAND-CENTERED SALES APPROACH020 RE

60、TAIL MEDIA RESEARCH REPORT Brands want toknow how theirRMN investment will improve performanceand market share.Stand out by:Identifying their needsto align theinvestment to the brands and retailers priorities.Educating the brand on howyoullsolve their needs by presentingsolutions that align with the

61、irasks.Then,craft KPIs that will effectively measure progress on those areas.This approach,called“solution selling,”multiplies success for brands and retailers alike.Include reinvestment strategies and successes in the conversation.When partnering with an RMNs client facing team,what is the one most

62、 important thing for them to share in the planning process?How a reinvestment strategy improves brand performance and market share28%Media share of voice across RMN site and in-store17%Merchant priorities and key tentpole events17%Category case studies14%Category and brand level insights8%Category p

63、erformance benchmarks6%Category pacing to plan6%The catergorys competitive landscape6%USE A BRAND-CENTERED SALES APPROACH020 RETAIL MEDIA RESEARCH REPORT Data monetization,a commerce-everywhere approach,great creative,and brand-centered selling are more powerful when theyre working togeth

64、er.Collaborate across teams to align your efforts.This will create better experiences and outcomes for you,your brands,and your shoppers.Bring it all together to fuel your RMNs success.See how it all works together in this diagram:Pre Sales,Account Management,Sales>MSolution Selling,In Market Crea

65、tive/Content&Event SupportAudience StrategyAudience Development&Analysis(Creates Audience Segments&Targeting Strategy)Media PlanningMedia Strategy(Translates Brand Strategy into Media Plan)CreativeCreative Development&QA(Produces,Manages,QAs&Delivers Creative Assets)Media Activation/Ad-Ops/BillingCa

66、mpaign Management(Produces,Executes,Manages Campaigns and Billing)Reporting&AnalyticsReporting,Analytics&Insights(Conducts Closed Loop Analysis)Sales EnablementStandard Operating Procedures,Training,Pipeline&Order Management,Sales Design,Go-To-Market Strategy,Creative Templates/Specs,Sales Materials

67、282023 RETAIL MEDIA RESEARCH REPORT Whats Now for Brands292023 RETAIL MEDIA RESEARCH REPORT RMN options are plentiful,and their top concern is competition.Their capabilities,maturity,and audiences vary how can you figure out the best opportunities for your brand and make the most of each partnership

68、?Here are four focal areas for you to forge the right retail media relationships and scale your program.Brands hold a position of power in a competitive retail media landscape.Data privacy and regulations4%Demands of brand/advertiser partners7%Scaling the team to meet demand17%9%Keeping up with inno

69、vation11%3%Competition19%22%Collaboration across merchant,loyalty,and retail media teams4%11%Managing margin15%11%Solutioning for new ad products16%20%13%13%Which is the largest potential concern or challenge about your retail media business?20232022302023 RETAIL MEDIA RESEARCH REPORT Our Top Recomm

70、endations to Achieve RMN Growth02Find RMN partners that can give you the audience data and tools to reach your shoppers across their journey.CREATE A SEAMLESS SHOPPING EXPERIENCE01Understand whos out there to help you reach your target audiences effectively.NAVIGATE THE COMPLEX LANDSCAPE03Plan at th

71、e shopper,category,or portfolio level to deliver cohesive experiences.INTEGRATE TO OVERCOME ORGANIZIONAL SILOS04Look at cross-RMN performance and match KPIs to business goals to boost performance and CX.APPROACH ANALYTICS&MEASUREMENT SMARTLY312023 RETAIL MEDIA RESEARCH REPORT Surveyed brands partner

72、ed with 41 different RMNs in 2023,with each offering a range of solutions.With this many options,youre likely to find an RMN(or a few!)that offer the capabilities you want.Dont be afraid to be selective with your criteria.With so many RMN options,you dont have to settle.What types of monetization so

73、lutions do you offer for brands/advertisers to participate in?78%59%50%42%34%41%33%33%6%11%13%16%17%22%25%27%28%28%Social media(buying,media from Facebook,Pinterest,etc.to resell as co-op media to your brands/advertisers)In-store digital mediaSearchIn-store physical mediaOnsite(.com)banner ads&displ

74、ay advertisingAddressable/connected TVOut of home(OOH)mediaCreative testingEmail sponsorshipDynamic creative optimizationCustom audience segmentationOnsite(.com)brand pagesData-driven content personalizationOff-site media displayData and first party audience insights without mediaOff-site media vide

75、oSelf-serve portal or dashboard for reportingClosed loop reporting0201NAVIGATE THE COMPLEX LANDSCAPE030430%Self-serve portal for brands/advertisers to launch campaigns322023 RETAIL MEDIA RESEARCH REPORT What if you find that the perfect RMN doesnt exist?Voice your needs!Think of RMN partners as an e

76、xtension of your team,who youre building a relationship with that extends beyond a specific channel.RMNs want to grow their brands investments and solidify partnerships with advertisers.Letting them know what you want will help them plan their roadmap or they may find other ways to address your asks

77、.RMNs are motivated to hear your perspectives and wants.What are the two largest opportunities for your digital retail media business?41%Create deeper partnerships with technology companies and media platforms(Google,Facebook,Criteo)13%Develop a stand-alone business unit with its own P&L22%Building

78、a connection between merchant teams and retail media17%Ensure you have a competitive solution to the current RMN landscape22%Grow advertisers/brands incremental investments19%Monetize insights for advertisers/brands22%Solidify partnerships with endemic advertisers/brands11%Provide a way to partner w

79、ith non-endemic advertisers/brands17%Provide greater personalization for shoppers17%Monetize first party data0201NAVIGATE THE COMPLEX LANDSCAPE0304332023 RETAIL MEDIA RESEARCH REPORT 83%of RMNs are regularly advertising via B2B channels,so you shouldnt have to work too hard to find out about new opp

80、ortunities.When you do engage in conversations,consider the top RMN pain points brands have faced and how you and the retailer can work together to avoid them.Marketing efforts are a reliable way to find out about new RMN opportunities.0201NAVIGATE THE COMPLEX LANDSCAPE0304Which is the most concerni

81、ng issue youve experienced working with retail media networks?17%22%17%14%11%11%3%3%3%Too may contacts to execute a single campaignLimited ad productsSales teams that are product-centric instead of brand-centricI have not experienced any of these issues Costly service feesLack of reporting capabilit

82、iesErrors or late in market deliveryLengthy timelines to get campaigns to marketComplicated creative specifications342023 RETAIL MEDIA RESEARCH REPORT More verticals are partnering with RMNs as non-endemic brands.Endemic brands(who sell on the retailers site)already have clear shopper audience align

83、ment.Non-endemic brands must take extra care to ensure theyre reaching the right shoppers and getting the right data from their RMN partnerships.If youre a non-endemic brand,pay special attention to audience alignment.Media(cable,streaming,cellular)Financial services/credit cardsQSR(Quick Serve Rest

84、aurants)HealthcareTravel and EntertainmentAutomotiveInsurance30%30%34%34%27%36%57%14%60%35%35%23%23%59%Which verticals do you work with as approved non-endemic advertisers?0201NAVIGATE THE COMPLEX LANDSCAPE030420232022352023 RETAIL MEDIA RESEARCH REPORT An RMN partnership gives you access to first-p

85、arty data to better know your shopper.The right partners should also provide capabilities that mesh with your resources and allow you to reach your audiences in a personalized way with data-driven creative and content across channels.Finding the right partners in the RMN landscape is critical to mak

86、ing great customer experiences.362023 RETAIL MEDIA RESEARCH REPORT More than 60%of retailers offer self-service tools for managing evergreen and custom-built audiences.This can be valuable if your brand has the expertise and resources to manage audience deployment,as self-service options add flexibi

87、lity and transparency.Look for self-service tools that simplify audience activation.Creative production or developmentMedia inventory management with evergreen audiencesMedia inventory management with custom-built audiencesSearch campaignsReporting dashboards58%39%20%64%65%63%63%63%74%72%Does your m

88、onetization program provide any of the below self-service tools for brands/advertisers?CREATE A SEAMLESS SHOPPING EXPERIENCE02022372023 RETAIL MEDIA RESEARCH REPORT Only 36%of retailers see retail media,shopper,and loyalty strategies working together frequently.To deliver a seamless shopp

89、ing experience,especially in an omnichannel world,those three areas need to be in sync.Look for RMNs that demonstrate a cohesive strategy across the three.Find an RMN that sees a strong connection between retail media,shopper,and loyalty strategies.Do you see a connection between retail media and sh

90、opper and loyalty strategies?Yes,we see them all working together frequentlySometimes-on occasion,budgets and/or strategies across the three areas work togetherNo,budgets and strategies are always handled separatelyCREATE A SEAMLESS SHOPPING EXPERIENCE0201030436%62%2%382023 RETAIL MEDIA RESEARCH REP

91、ORT Creative is a critical component of brand experience,and solutions can vary dramatically from RMN to RMN.Evaluate your teams needs so you can find the right level of flexibility without taking on more responsibility than your bandwidth can accommodate.Choose creative capabilities that align with

92、 your teams needs.CREATE A SEAMLESS SHOPPING EXPERIENCE02010304What creative flexibility,if any,do you primarily offer to advertisers?Highly templatized ads built via dynamic creative optimization feeds with advertiser supplied SKUsModerately templatized to support retailer branding but the advertis

93、er can supply customized ads within designated templateHighly templatized ads with product/logo/offer copy only provided by the advertiserFreely allow advertiser to supply custom ad units to general size specifications61%64%47%25%392023 RETAIL MEDIA RESEARCH REPORT As a brand,your customer insights

94、are probably limited to your own data set collected through media,loyalty programs,and owned-and-operate properties.RMNs provide an important opportunity to enhance your data set.Look for an RMN that can co-mingle their first-party data with yours to create a more robust picture of your shoppers tha

95、t helps you better meet their needs.If youre part of the 69%of brands whove invested in their first-party data,look for opportunities to co-mingle.Have you invested in your own first-party data?31%69%CREATE A SEAMLESS SHOPPING EXPERIENCE02010304YesNo402023 RETAIL MEDIA RESEARCH REPORT Brands that pl

96、an and manage at a shopper,category,or portfolio level are outperforming those that manage at a channel level.The winding shopper journey requires increased coordination across marketing departments and other teams in the business.You cant create seamless customer experiences if your organization is

97、 disjointed.412023 RETAIL MEDIA RESEARCH REPORT The top ask from brands is in-store tactics and digital media,but to capitalize you must foster collaboration across various departments.You need technology and measurement to activate in-store tactics in a way thats valuable to the shopper.Additionall

98、y,teams in marketing,loyalty,merchandising,and more must collaborate to create cohesive engagement.In-store initiatives introduce a new layer of necessary coordination.Greater account service and strategy from the media network post-IOSelf-serve tools for media/audience planning11%8%17%13%Ability to

99、 make messaging content more relevant via the use of data or data triggers8%13%More social channels3%13%Inclusion of insights into the offering11%4%Live dashboards for campaign reporting4%14%More ad solutions such as OTT,CTV,Voice,Audio14%7%Monetization of and access to retailers first party data wi

100、thout media6%7%Realtime optimizations3%26%What is the one innovation that you would most like to see come from Retail Media Networks?20232022INTEGRATE TO OVERCOME ORGANIZIONAL SILOS020 RETAIL MEDIA RESEARCH REPORT RMN investments come from multiple teams each with their own agendas,stakeh

101、olders,and KPIs.Almost all retail media investments used to come from shopper/trade dollars.We now see brand media spend contributing the most.Planning must happen in a collaborative way,with business-level goals taking priority over department-level agendas.Start by navigating organizational and fi

102、nancial priorities.24%7%27%41%What percentage of your incremental retail media network spend comes from brand media dollars vs ecommerce dollars?Brand mediaEcommerce mediaShopper/trade dollarsOtherINTEGRATE TO OVERCOME ORGANIZIONAL SILOS020 RETAIL MEDIA RESEARCH REPORT One of the biggest

103、silos to break down to navigate a complex landscape and create seamless experiences is in your data.Brands are working with more RMNs than ever before.Evaluating their performance holistically is critical for understanding where to spend your next dollar.Yet only 53%of brands find it easy to compare

104、 results across RMNs.A comprehensive analytics view supports all other brand initiatives.How easy is it to compare results across the RMNs you work with?Very easySomewhat easyNeither difficult nor easySomewhat difficultVery difficult40%35%30%25%20%15%10%5%0%442023 RETAIL MEDIA RESEARCH REPORT But th

105、eres still a concerning 28%of brands who work with multiple RMNs and do not compare theirperformance.Regardless of how youre doing it,there are several key considerations for planning your analytics approach.58%of brands have in-house teams to bring together data,measurement,and insights.We have an

106、in-house analytics team58%48%We do not work with myltiple retail media networks2%0%An agency handles our analytics25%61%We work with multiple retail networks,but do not compare performance across them37%28%We work with a partner(Skaii,Pacvue,Commerce IQ)42%41%If you work with multiple retail media n

107、etworks,how do you compare performance across them?APPROACH ANALYTICS AND MEASUREMENT SMARTLY02022452023 RETAIL MEDIA RESEARCH REPORT With shifts in the economy,brands are keenly focused on bottom-of-funnel success.Consider how you categorize RMN investments and create KPIs accordingly.Wh

108、en evaluating performance of your offsite and onsite media investments with retail media networks,what do you take into consideration?50%Engagement(clicks,conversions,impressions)50%Incremental return on investment/return on ad spend(iROI or IROAS)31%Reach44%Return on investment(ROI)or return on ad

109、spend(ROAS)31%Incremental sales39%Brand safety31%Viewability17%New-to-brand buyersAPPROACH ANALYTICS AND MEASUREMENT SMARTLY020 RETAIL MEDIA RESEARCH REPORT Fortunately,brands are better aligning their KPIs to retail medias place in the funnel this year.This reverses a trend we saw last y

110、ear,where there was a disconnect between how brands categorized their investments and how they measured them.Upper-funnel and lower-funnel spending may demand different success metrics.30%30%29%7%APPROACH ANALYTICS AND MEASUREMENT SMARTLY02010304How do you categorize your retail media spend?OtherRet

111、ail trade spendLower funnel mediaUpper funnel media472023 RETAIL MEDIA RESEARCH REPORT Ask for clear measurement.Only 50%of brands clearly understand KPIs and can translate them to broader business outcomes.Push for incremental gains.Only 31%of brands look at incremental sales when evaluating RMN in

112、vestments,while 17%consider new-to-database customers.Remember,you and your RMN partners are a team by helping you align performance to your roadmap,they benefit from a higher likelihood of sustained or higher investments from you.Use your position of strength to hold RMNs accountable to explain dat

113、a and deliver incrementality.When evaluating performance of your offsite and onsite media investments with retail media networks,what do you take into consideration?APPROACH ANALYTICS AND MEASUREMENT SMARTLY0201030450%39%11%I clearly understand the KPIs our RMN partners report and can articulate wha

114、t they mean/represent to others in the business.I know what the KPIs stand for,but cant translate them to broader business implications.I grasp the KPIs well enough to gauge if theyre moving in the right or wrong direction,but dont exactly understand how theyre calculated or why were measuring them.

115、482023 RETAIL MEDIA RESEARCH REPORT Retail media is expected to be an$85B industry by 2026 the opportunity is massive.The way to capitalize on that opportunity is through strong partnerships that enable better shopper experiences.Ask the right questions,think about holistic journeys,remove silos,and

116、 combine analytics to put your brand in a position for success.Bring it all together to forge the perfect RMN partnership and improve CX.RetailMediaGrowthSeamless Shopper ExperiencesHolistic Analytics that look at the right KPIs across RMNsA United Organization without silos and competing agendasThe

117、 Right Partners,with the right first-party data and engagement opportunities492023 RETAIL MEDIA RESEARCH REPORT Whats Next?502023 RETAIL MEDIA RESEARCH REPORT What to watch for in the 2024 Retail Media LandscapeIdentity&DataNew,strategic first-party data offerings coming from RMNsArtificial Intellig

118、ence(AI)Operational effectiveness,automation solutions,content&creative solutioning,and strategic planningAcceleration of Non-EndemicInclusion of non-endemic offerings incorporated into more RMNs within the landscapeExpansion Beyond Retail&Existing CategoriesNew entrants across multiple verticals&ca

119、tegories following the RMN model(i.e.travel,entertainment)New Revenue Solutions for BrandsCapitalizing on the opportunity for monetization of brand first-party data&media efficiencies512023 RETAIL MEDIA RESEARCH REPORT Brands interest in retailers first-party data to understand shoppers and inform b

120、usiness decisions has fueled RMN growth.Recent tech developments,like clean rooms,have made identity even more critical.Brands are increasingly asking for strategic planning based on that first-party data.Investment in identity solutions and partnerships can help fill that need.Identity and data exp

121、ansion in 202472%of brands that have invested in their first-party data have used a clean room to co-mingle data with an RMN522023 RETAIL MEDIA RESEARCH REPORT Non-endemic brands are those that buy data or media from a retailer even though their products arent sold at that retailer.58%of brands ofte

122、n take advantage of non-endemic data and media offerings,yet the majority of RMNs do not focus on non-endemic.Retailers capitalize and differentiate by meeting this brand need.Non-endemic acceleration in 2024202320222021Have you ever taken advantage of data or a retail media network offering at a re

123、tailer where you are not an endemic brand?No,weve never considered it6%2%1%No,but we have considered it,we just dont know how to engage4%3%14%58%Yes,we often take advantage of their data and media network offering at a retailer where you are not an endemic brand53%48%Yes,but only if our products are

124、 listed as part of their marketplace offering38%28%46%532023 RETAIL MEDIA RESEARCH REPORT Monetization has historically meant RMNs providing insights and data to brands.Now theres an untapped opportunity for brands to monetize their own first-party data or partner with a retailer to accelerate growt

125、h of their first-party data for future alternative revenue strategies.New revenue streams for brands in 202469%of brands have invested in their own first-party data542023 RETAIL MEDIA RESEARCH REPORT Generative AI can help fuel a CX revolution with its predictive powers.Building generative AI strate

126、gy upon relevant,custom-trained models creates large advantagesfor retailers to connect more closely with their consumers.With AI,retailers can grow in 3 key areas:The power of artificial intelligence in 2024Enhance existing workflows to maximize efficienciesStreamline operations to unlock scaled re

127、venueAccelerate time-to-market of strategic initiatives552023 RETAIL MEDIA RESEARCH REPORT Though the RMN landscape is competitive,theres still room for new verticals and categories.Retail proved out the media network model and built the foundation for it;now,companies in travel,automotive,quick-ser

128、ve restaurants,and more are applying the same principles to open new revenue opportunities for their companies.Media networks outside of retail in 2024companies are applying the same principles to open new revenue opportunities for their companies.562023 RETAIL MEDIA RESEARCH REPORT Retail media rem

129、ains one of the most exciting,dynamic spaces in marketing.In addition to the new insights and data weve shared here,we invite you to explore our other related content on some of the topics weve covered:Parting thoughts and additional resourcesUnlock New Revenue Streams with A Strategic Approach to F

130、irst-Party DataSo Youve Built a Retail Media Network Now What?How to Build Trust in Your Retail Media EffortsMedia Networks:Not Just for Retail AnymoreThe Importance of Creative in RMN StrategiesFive Tips to Get Started with Dynamic Creative Optimization(DCO)572023 RETAIL MEDIA RESEARCH REPORT Merkl

131、es New Stream Media&Retail GroupOur MethodologyThe data in this report was collected via survey in July and August 2023.We surveyed 100 executive,senior,and mid-level decision makers in marketing,retail media,merchandising,ecommerce,and shopper marketing roles.Respondents work at brands and retailer

132、s with over$50M in annual revenue.All participating retailers have a shopper marketing or co-op marketing program,as well as a monetization program thats incremental to their shopper marketing.All participating brands categorize themselves as either CPGs or consumer brands.E-Retail PracticeOn the bu

133、y side of retail media,our E-retail Strategy and Activation team brings data-driven,forward-looking strategies to media activation,helping brands maximize opportunities across retail media networks and marketplaces.Merkles retail media planning solution,Merkury for Commerce,is a data-driven solution

134、 that helps brands partner with retailers to determine where to invest across the retail media landscape.New Stream Media PracticeWe know first-party data like no one else.We match your vendors with your shoppers in the right media channels.Our retail monetization offering,New Stream Media,works wit

135、h leading brands and retailers on the sell side as they build and evolve their retail media network offerings,focusing on the creation and scale of their monetization business.The New Stream Media network is a total solution or a flexible service.Retail Media Discovery and Design Consulting Services

136、 or Readiness Assessment Media Sales and Go-To-Market Strategy Complete Activation Solutions Creative Campaign Solutions including DCO Adtech Consulting and ImplementationAbout the Merkle Retail Media GroupThe retail industry is experiencing an evolution brought about by accelerated changes in consu

137、mer behavior.CPGs&brands across categories are rising to meet these challenges through innovation and direct-to-consumer relationships,while retailers are seeking to monetize their data and enhance the shopper experience.Merkle connects the unique needs of retailers,brands and shoppers in performanc

138、e media by leveraging real data to grow your business and to put people first.The Merkle Retail Media group has a unique offering for brands and retailers across activation(buy-side)and monetization(sell-side),helping to create and manage over$1.25 billion in value for retail media networks.The inte

139、rsection enables knowledge sharing and innovation across data,media,creative,and analytics offerings for brands and retailers.ContributorsMegan CameronChelsea MonacoShannon HoyerSteve PomeroyMatthew DiBenedettiJohn CarlsonCorina WilesMika TakahashiJackie HolmenMelissa ReillyBeth MartinBritt Polihron

140、isMerkle,a dentsu company,is a leading data-driven customer experience management(CXM)company that specializes in the delivery of unique,personalized customer experiences across platforms and devices.For more than 30 years,Fortune 1000 companies and leading nonprofit organizations have partnered wit

141、h Merkle to maximize the value of their customer portfolios.The companys heritage in data,technology,and analytics forms the foundation for its unmatched skills in understanding consumer insights that drive hyper-personalized marketing strategies.Its combined strengths in consulting,creative,media,a

142、nalytics,data,identity,CX/commerce,technology,and loyalty&promotions drive improved marketing results and competitive advantage.With more than 16,000 employees,Merkle is headquartered in Columbia,Maryland,with locations in 30+countries throughout the Americas,EMEA,and APAC.For more information,contact Merkle at 1-877-9-Merkle or visit .