There comes a time when the siloed nature of emerging digital categories starts to hinder its success and growth. Here are a few key takeaways to consider before integrating this channel into your e-commerce playbook. Spending estimates show this is a successful formula, but it is not without challenges. One of the primary factors driving this growth is the promise of maximized ROAS through unique, highly personalized ads using privacy-compliant customer data. Discussions that day went so far as to suggest retail media and connected commerce as the “third wave” of digital advertising’s evolution – following in the footsteps of search and social media. Projections indicate retail media as one of the fastest-growing digital channels, expected to capture nearly 25% of total media spending by 2027. The IAB recently released its ‘Retail Media 2023: Operational Strategies to Meet the Growth Potential’ research at its inaugural (and sold out) Connected Commerce Summit in NYC.
