NEW YORK – Retailers that sell online advertising can tout their ability to target consumers based on their purchase histories and to reach shoppers at the lowest parts of the purchase funnel. But retail media is one part of the broader growth in “commerce media” that includes brand advertising across other websites.
“We define commerce media really a lot bigger than just those low-funnel tactics that we’ve all known and bought over the years across the Amazon and Walmart and those other retailers,” Jill Cruz, executive vice president, commerce strategy, at Publicis Groupe, said in this interview with analyst Joanna O’Connell.
“I defined it [commerce media] more as a new form of advertising that takes a media impression all the way to a commerce transaction,” Cruz said while attending Beet.TV’s Retail Media Leadership Dinner in New York. “It really could be upper funnel to lower funnel, if you think about it — as long as it has a certain commerce outcome.”
While larger retail chains and online marketplaces have more abilities to handle campaigns that reach millions of consumers, opportunities for smaller retailers to participate are becoming more available. There are technology platforms that are geared to enable smaller ecommerce sites to monetize their web traffic with advertising.
“What we’ve seen is as they’ve gotten larger, those retailers have either gotten larger or e-commerce has become a bigger focus,” Cruz said. “They may start to build their own in-house, but I think it’s a nice stopgap, if not permanent solution for a lot of the small, long-tail retailers.”
You’re watching “Retail Media: What’s Next?” a Beet.TV Leadership Series presented by Albertsons Media Collective and Criteo. This video was produced at Beet.TV’s Retail Media Leadership Dinner in NYC. For more videos from this series, please visit this page.