“Media Networks From Commerce Companies Are Growing And Transforming Shopping” predicts Forrester industry analyst Sucharita Kodali (@smulpuru) in her refreshed research report Retailers: You’re The Next Media Moguls (subscription required, click the button below to read it courtesy of Criteo) published on the 21/2/20 with Fiona Swerdlow, Collin Colburn, Joanna O’Connell and Nicole Murgia.
As we explained in our previous blog post, Amazon and other retailers such as Best Buy and Walmart have built commerce media networks, which not only deliver superior customer experiences by serving ads at relevant moments for their customers whilst all at the same time according to the Forrester report “cultivating a rapidly growing new revenue stream with healthy margins.”
Her salient points are:
- Commerce companies and marketers are a match made in heaven, because retailers are a key stop in the discovery and research process and are net-new profit pools.
- Retailers are approaching media much too cautiously and should consider building their own network.
The report suggests that retailers should “Consider partnering with companies like Criteo Retail Media and Intent Media, which have turnkey offerings to help commerce companies get set up and mine their first-party data to intelligently showcase ads to different audiences.”
Forrester’s other recommendation for retailers is to continue to watch the consumer experience.
As for brands, they should embrace this new publishing channel as there is for them “as much value […] as Facebook and Google.”
This also means that agencies have to get up to speed on this. She notes that awareness is still low as “many media planners are still unaware of this advertising format, and others may be reluctant to embrace it because it requires more work to test and perfect.”
Check Criteo Retail Media solutions for brands and retailers.