What is retail media and why should I care?
In a nutshell, in-store retail media is advertising within a physical retail environment, such as a grocery or department store. It can take many forms, including product displays, aisle fins, wobblers, end of aisle displays, signage, digital screens, radio, and even staff uniforms.
Its purpose is twofold:
- Create a cohesive experience for shoppers that provides them with relevant content, allows them to seamlessly transition between online and offline channels, and make more informed purchase decisions.
- Drive stronger ROI for retailers and brands who need new creative advertising solutions that cater to customers’ needs now that third-party cookies and identifiers are on the way out.
With retail media tipped to be a $180 billion opportunity globally, it’s no surprise 80% of advertisers are planning to increase their retail media spend over the next 12 months.
Retail media is also highly targeted. By leveraging customer data, retailers can provide brand advertisers with detailed insights into shoppers' behaviours, preferences, and purchasing habits. This data can be used to create highly targeted campaigns that resonate with shoppers, drive conversions and clearly demonstrate ROI.
But more importantly, in-store retail media empowers brand advertisers with the unique opportunity to reach customers where it counts most: at the point of purchase.
Still not convinced? Here are some other quick stats that highlight its potential:
- According to a report by Ayden Australia, 73% of consumers prefer to shop in-store, despite the rise of e-commerce.
- Research by NielsenIQ found 95% of retail giant Target’s in-store and digital sales were fulfilled by its brick-and-mortar locations.
- A PwC report found that retail media has higher margin potential (up to 90%) that can be realised when traded as a standalone offering.
Statistics aside, retail media offers retailers a unique opportunity to create an immersive and engaging experience for their customers. By combining in-store with online and off-site channels, retailers can create a cohesive and memorable brand experience that will stick with customers long after they checkout.
In-store retail media is also highly adaptable. Retailers can experiment with different media assets to see what works best for their customers. For example, they could use in-store radio to create an inviting environment or use screens to showcase new products and offers.
So how does one go about building an RMN and executing high-performance in-store retail media?
The answer is simple: Zitcha.
The Zitcha effect
Zitcha is the only omnichannel retail media platform that connects retailers and advertisers; online, offline and in-store.
We partner with global leaders in social, in-store and multi-channel media to deliver omnichannel advertising you can buy, sell and track, all from a single secure platform.
Our innovative platform offers complete control over pricing and campaign types, and retailers can even package their offerings in special deals to attract brand advertisers (like a Black Friday sale, for example). This means that advertisers can target shoppers across any asset, whether they're in-store, at home, out and about, or online.
As retailers face the challenge of shrinking margins and dwindling profits, the need for additional revenue streams has become more pressing than ever. That's where our platform comes in, enabling retailers to capitalise on their owned media and take their retail media offering to the next level.
When you partner with Zitcha you’ll be joining the likes of clientsand seizing your share of the $180 billion global opportunity.
From floor stickers to end-of-aisle displays, sampling, wobblers, mailers and catalogues, we have an extensive range of in-store retail media inventory ready and waiting for you to take advantage of.
Ready to chat? Get in touch and we’d be happy to walk you through Zitcha and see how we can work together.