Retail Media Trend Report: November 1st
Retail Media Trend Report: November 1st
Welcome back to Chicory’s Retail Media Trend Report! The boom of retail media has made industry news, especially for grocers, hard to follow. Our bi-weekly recap aims to help you navigate this ever-growing world.
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Industry Happenings
1. IAB Europe Launches Retail Media Standards Certification
The Interactive Advertising Bureau (IAB) is continuing its efforts to standardize RMN metrics. This week, IAB Europe introduced a certification program to set foundational standards for retail media networks.
The program tackles key metrics like measurement accuracy, data handling, and ad quality to address long-standing concerns in the retail media space.
Building on the work they touched on at the 2024 Connected Commerce Summit, this certification aims to provide brands with a standardized framework that ensures consistency and improves data transparency. By building trust, IAB Europe enables brands to invest more confidently in retail media, knowing their campaigns will meet consistent standards.
To support these efforts, IAB Europe conducted an Attitudes to Retail Media survey, revealing that 58% of media buyers struggle with the lack of standards in retail media, while 49% of respondents point to a lack of measurement and reporting as barriers to investment.
It seems that industry players are taking notice as well. Casper Van-Wandelen, Retail Media Lead at Unilever, said “I am very pleased with the new IAB Europe Certification Programme, as it marks a significant milestone in the industry’s development…It fosters credibility and trust, simplifies cross-retailer comparisons, and ensures advertisers receive reliable data.”
2. Grocery Media Networks Present an $8.5 Billion Opportunity
Last week, Grocery Doppio released the State of Digital Grocery: In-Store Media Monetization Report, forecasting that grocery media networks could unlock an $8.5 billion revenue potential as consumers increasingly shift their shopping habits online.
Other findings include 88% of grocers saying media monetization is a top growth priority, while 93% of CPG brands report wanting the ability to tie in both digital and in-store engagement.
Holistic omnichannel experiences were a common theme throughout the report. Moving into 2025, grocery executives are increasingly interested in getting a complete view of the shopper journey, informing their own decisions on ad spend.
Growth in the retail media space was also something the report touched on. Grocery Doppio projects the number of retail media networks will double in the next 18 months. In the report, 68% of respondents said investment in a media network is a high priority.
