Merkle research from August 2023 shows that 53% of brands frequently use data and advertising opportunities with stores that do not stock their product.
Recognizing the potential for increased revenue, retailers such as Walmart, Home Depot, and Albertsons have recently allowed brands they do not carry to access their retail media networks, reported EMarketer.
Given the disappearance of legacy identifiers, retailers are well-positioned to benefit from the growing significance of first-party data. According to LiveIntent’s April 2024 study, 84% of US marketers are more inclined to invest in retail media because of third-party cookie deprecation.
According to EMarketer, retailers must ensure that the ads complement – rather than compete with – the brands they carry.
Ariel Ben Solomon is the Growth and Strategy manager at Ecomhunt. He is the host of the Ecomhunt Podcast. Can be followed on Twitter at @ArielBenSolomon
