“While we see consumers willing to spend more than in the past on certain products like outerwear, footwear and underwear, that’s not it either. The biggest opportunity in retail now isn’t in a product at all, it’s in improving how things are sold. The biggest opportunity in retail right now is: retail technology.”
“Brands spent at least $5 billion on retail media in 2020. That’s not a typo. We estimate based on our latest retail media research that enterprise advertisers spent at least $5 billion in retail media networks such as Amazon, Target, Walmart and others in 2020. Why? Because consumer packaged goods brands, consumer electronics brands and many other brands that sell through retailers want to influence the customer at the digital point of sale. Retail media helps them do just that, as well as be able to better measure performance from their investments.”
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