The number of commercial media networks is growing every year. The reason is that there is a lot of potential in the market, so there is plenty of room for smaller players alongside the bigger ones. In this blog post, we will look at which are the TOP retail media networks, why they are worth taking a look at and how smaller ones are filling a niche.
A retail media network is an online sales channel used by brands and retailers to effectively reach consumers to strengthen their sales and brand presence in the market. It fits perfectly into the digital media strategy, helping to position the brand message and products appropriately to consumers.
Through the retail media network, brands can buy display space, for example in online stores. This allows them to reach target audience members with messages at a specific point in the purchase process, increasing the chances that the user will also notice the brand's product, look at it and add it to their shopping cart.
These media networks can be of different sizes and types and should be chosen for different retail media strategies. Now we are going to introduce 5 retail media networks that are worth examining.
TOP retail media networks
Amazon
Amazon is one of the world's best-known and most established e-commerce players, with an amazing range of products and a global reach. It supports precise brand targeting with advanced data analytics to deliver messages to many people. Its advertising revenues are predicted to reach $34.59 billion this year.
Walmart
Walmart is the second largest player after Amazon, attracting many people with its wide range of products and low prices. It monitors and analyses customer data, which can provide valuable insights for brands. The retail media network is constantly innovating and improving, and in 2022, for example, it partnered with TikTok, Roku and Snapchat to create even more precise targeting. An important factor is that Walmart also exists as a chain of stores, not just online.
Instacart
Instacart makes grocery shopping and home delivery fast and convenient. Its huge growth is remarkable: it is forecast to increase its advertising revenue by more than 41% this year. In the fourth quarter of 2022, the company has already proven itself: it has grown by more than 50% year-on-year and 80% in gross profit.
Target Roundel
Target is the eighth largest retailer in the United States, with 30 million online visitors a day. It offers solutions such as display advertising on Target's interfaces. It leverages the power of stores and online platforms to improve targeting accuracy through data analytics.
Klarna
Klarna is in a special position, as it is not a retailer, yet it has developed a unique media network. It places ads within the app, in the newsfeed and through video content. It gives consumers the option to pay for the goods they buy later, which can increase the customer experience and impulse purchases.
Beyond the big ones
It's important to emphasise that although there is a lot to learn from the big players, they may not always be the best choice in every situation. In many cases it is exactly their pure size that is a disadvantage, as they are too competitive for brands, bidding on keywords can be very costly and statistics may not be satisfactory. Smaller players can be more flexible and efficient, and overall advertising can be cheaper and more effective.
Inhabitad is an AdTech company that provides innovative solutions and expert services to help smaller retailers get started on the path to having a retail media network. We can also help retailers of any size build their own retail media solution, whether big or small.
With Inhabitad, you can learn how retail media can help you generate revenue. Reach previously hidden resources by selling advertising space to brands. Want to know how it works? Get in touch with us!
