Merkle Has Launched New Stream Media To Expand Its Presence In Retail Media Network Market

 

Retail Media Network Market

North America is expected to witness tremendous growth in the near future and this can be accredited to the increasing penetration of the e-commerce industry in the region. According to the Coherent Market Insights analysis, in the U.S., retail e-commerce sales increased from 274,534 million in 2017 to 419,723 million in 2020. For example, Amazon.com, Inc., and Walmart are key players in the U.S. e-commerce industry.

1.      In February 2021, Macy's has launched a media network that looks to generate an additional source of income for the department store retailer by selling ads to brands

2.      In January 2020, Merkle, a technology-enabled, data-driven performance marketing agency announced the launch of New Stream Media, a solution that allows retailers to grow their digital ad revenue, create more personalized experiences for consumers, and form unique partnerships with manufacturers

3.      In December 2020, Walgreens Launches Retail Media Network. The launch of Walgreens Advertising Group ("wag") provides a personalization-driven advertising platform for brands to deliver personalized experiences to shoppers

4.      In November 2020, Nectar360 partners with CitrusAd to launch a retail media platform for brands. The solution enables brands and ad agencies to launch targeted sponsored product, banner advertising, and return on investment (ROI) reporting and analytics

5.      In September 2019, News America Marketing (NAM), a New York-based marketer announced its plans to launch a digital in-store media network

Shifting consumer preferences towards one-click solutions and rapid growth in online retail is fostering the growth of the retail media network market. The growing trend of online shopping and increasing technological advancement in mobile devices and adoption of the internet of things (IoT) is also contributing to the growth of the retail media network market. According to the Federation of Indian Chambers of Commerce & Industry, the industries that are predicted to spend the most on IoT solutions in 2019, globally, are manufacturing (US$197 billion), consumer IoT (US$108 billion), transportation (US$71 billion), and utilities (US$61 billion). Moreover, the increasing penetration of smartphones around the globe is another key factor accelerating the growth of the retail media network market. According to the Coherent Market Insights, the penetration of smartphones increased worldwide from 2.8 billion in 2018 to 3.8 billion in 2020.

A Retail Media Network, is a group of media outlets that can be found in a given retail outlet. The outlets are typically owned by a single company and often share a distribution agreement. For example, a chain of discount stores might own multiple television stations, multiple radio stations, and a variety of other outlets.

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