Advertising on ecommerce sites is a high-growth segment of digital media as marketers seek to reach digital shoppers closer to the point of sale. Amazon, Walmart, Target, Albertsons, Kroger, Best Buy and Macy’s are among the retailers that sell online ad space on their websites. Instead of being categorized as a type of “performance media” that includes in-store promotions, retail media networks have emerged as their own category.
In this episode of the Beetcast, two experts discuss the promise of retail media networks:
- Jess Huang, partner at consulting firm McKinsey & Co., says retailers soon will sell $100 billion a year of ads on their websites – a “win-win-win” situation for retailers, brands and consumers.
- Brian Gleason, the global chief commercial officer of WPP’s GroupM who is joining tech firm Criteo as chief revenue officer, says retail media is a growth engine in digital advertising.