The data retailers have on customers — from one-time buyers to loyalists — is extremely valuable to advertisers who want to optimize their exposure.
Advertisers are increasingly spending more on retail media networks — the platforms run by companies such as Amazon and Walmart, which show ads in stores, on apps and websites.Streaming 24/7: Watch NBC 5 local news and weather for free wherever you are-owned platforms like Facebook began to gobble up market share. While ad dollars are rapidly shifting from traditional TV to streaming, retail and consumer product companies are now taking up a significant part of the mix.
"It's the new TV for mass reach advertising," said Mark Boidman, head of media and entertainment investment banking at Solomon Partners."If you want to reach someone fast, it's best to get them in a store or on your app. ... It's a 360-degree approach."The kind of advertising purchased through retail media networks is often found on in-store displays and screens, websites, mobile apps, streaming services, smart TVs and social media.
Advertising and media executives note that retail media networks now dominate conversations at conferences and other gatherings, such as the Cannes Lions advertising festival. It's often a highlight on earnings calls, too.
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