2020 has been a pivotal year for online retail. According to Nich Weinheimer General Manager of Ecommerce at digital advertising technology company, Kenshoo, there’s been “10 years’ worth of ecommerce adoption” with consumers staying at home.
In today’s episode of our Retail Media Moment video series, Nich shares insights on what this growth means for the retail industry. He explains, “We’ve seen a pretty huge shift in terms of how many new customers there are in ecommerce . . . it’s a big pattern interrupt, but I think from a consumer perspective, they’re starting to learn . . . the efficiencies they can gain in their own lives.”
And more online shopping doesn’t necessarily mean more shoppers turning to Amazon. Since Amazon holds only 40% of ecommerce sales, many other retailers are helping to fulfill consumers’ needs. Watch the video below for more retail knowledge from Nich!
The biggest focus for brands and retailers right now is the holiday season, and Nich predicts that with consumers not traveling as much, they’ll want to send gifts to family and friends.
His question for Retail Media players? “How do you find a way to influence in a meaningful and positive way for the consumer or the environment?”
Looking for more Retail Media insights from industry experts? Watch our last episode featuring Elizabeth Marsten, Senior Director of Marketplace Strategic Services from Tinuiti Digital.