It may not operate directly in the retail space – but that doesn’t mean Google doesn’t have a role to play in retail media.
In fact, the company has already unleashed its extensive ad-tech offering in support of retail media operators.
In this video interview with industry analyst Joanna O’Connell for Beet.TV, Shawn McGahee, Head of Retail Media at Google, emphasizes the company’s efforts.
Connecting the digital shelf
McGahee says: “We’re really trying to connect the digital shelf, the great assets that retailers have to the great scale that Google has so that we can really deliver for their manufacturers and for the retailer.”
By leveraging Google’s extensive user base and top platforms like YouTube, they aim to extend the reach of retailers’ assets.
Discussing Google’s role, McGahee explains: “From a media standpoint, we’re helping extend the reach. And so we’re focused on, searching YouTube as that reach extension.” He also shares that Google helps retail networks manage their onsite and offsite strategies with tools like Google Ad Manager, SA 360, and DV 360.
New Episode! "Building a Retail Media Business with Google's Shawn McGahee"
The CPG Guys speak with Shawn McGahee, Head of Retail Media at Google. Follow Shawn McGahee on LinkedIn at: https://t.co/74P0Infcny…
Player links & show notes: https://t.co/bqVdkN7VY9
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Underlining the importance of measurement in retail media, McGahee says, “measurement is the name of the game in retail media. And so we’re leveraging Google Cloud analytics and also campaign manager to help the networks close the loop and provide that full view back to the manufacturers.”
Retail media and search
EMarketer expects on-site ads will comprise the lion’s share of retail media spending for the foreseeable future.
But it also predicts: “In 2023, advertisers will spend almost $30 billion on retail media search ads. By 2027, that figure will be more than double, rising to $63.20 billion.”
Google is actively courting retailers with a guide to “building a retail media business with Google”
Investing in retail media can help your brand partners connect with shoppers while they’re in a purchasing mindset, leading to more effective customer acquisition, as well as increased online and in-store sales. Learn more → https://t.co/zafTXfxoHg pic.twitter.com/D774DyGlXb
— Google Ad Manager (@GoogleAdManager) January 4, 2022
Roundel and Albertson’s Media Collective
As a testament to Google’s efforts, McGahee cites successful partnerships with Roundel and Albertson’s Media Collective. About Roundel, he says, “they’ve been seeing a 20% increase in conversions when they have a combination of offsite search with Google and onsite sponsored product ads.”
Furthermore, Roundel recently announced a partnership with YouTube to reach target audiences.
Regarding Albertson’s Media Collective, McGahee highlights their localized focus, saying, “they need a partner that can make hundreds of different permutations so that it can be very local and specific to the market set they’re in.” He mentions that they use Google Ad Manager for onsite strategies and DV 360 for executing at scale.
You are watching ‘Inside Commerce: Retail Media & What’s Next? Reports from ShopTalk 2023,’ a Beet.TV Leadership Series presented by Criteo. For more videos from this series, please visit this page.