Retail Media Trend Report: October 18
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. Groceryshop Recap
More than a week has passed now since Groceryshop 2024, where some of the largest industry players in the retail media space came together to share insights on an ever-evolving industry.
The key takeaway this year? The importance of contextually relevant, brand safe media on both off and on-site platforms is only continuing to grow.
Here are our three of the most impactful takeaways we pulled from the sessions:
1. Expanding Retail Media
Experts hammered home the need of omnichannel strategies that incorporate both on-site and off-site media.
Michele Roney of Mars United Commerce stated, “Off-site media is essential to build on the established retail media foundation.” This signaled the importance of contextually relevant media that meets consumers in off-site environments. Roney and other experts continued to build on this idea, stating how RMN off-site media has little to no value if it’s not supported by effective, contextually relevant targeting.
2. Growth and Innovation in RMNs
Another key takeaway from the convention touched on the importance of RMNs continuing to evolve their overall capabilities, offering better and more consistent measurement standards, and an omnichannel approach that leans on contextually relevant, personalized media to enhance the holistic shopper experience.
Retail insight standardization has continued to be a hot topic in the latter half of this year. Raquel Navarrski of General Mills noted that while brands are focusing on balancing both reach and personalization, one key challenge they’re facing is ensuring data transparency and consistent measurement, particularly when assessing return on ad spend.
3. Retail Media and Consumer Seamlessness
Easily one of the most important topics touched on during Groceryshop was around the holistic consumer shopping experience, and how RMNs can play a better role in streamlining it.
In the Blending In-Store and Online Grocery session, experts from Giant Eagle and SpartanNash discussed how they are bridging the in-store and digital gap. Justin Weinstein of Giant Eagle reinforced that “meeting customers where they are” is critical in today’s market, and that contextually relevant, omnichannel marketing can significantly enhance the customer experience.
