Global Retail Media Networks Market Size, Share, & COVID-19 Impact Analysis, By Cloud Deployment Type (Private Cloud, Public Cloud, and Hybrid Cloud), By Type (Search Ads and Display Ads), By Application (Consumer Goods and Catering), and Regional Forecast, 2024-2032

A retail media network is an advertising structure that includes digital channels such as websites and applications. Advertising firms provide retail media network platforms to third-party brands for marketing and advertising. It aids brands to enhance their digital presence. With the rising popularity of online shopping for consumers, retail vendors are identifying digital channels as beneficial prospects to help brands expand, engage and reach potential shoppers.

Retail media networks help brands connect with potential customers and access improved insights which aid in making better marketing campaigns for brands. According to Amazon's retail media networks guide, enterprises are estimated to increase their spending in retail media space and are expected to reach USD 25 billion by 2023.

Hence, various enterprises expand their retail network media solutions with various integrations, strategic alliances, collaborations, and new advancements. For instance,

• In July 2023, Foodland, in collaboration with CitrusAd, introduced a retail media network. The retail media network unifies the privacy-protected first-party data of Foodland and the relevancy algorithm of CitrusAd to match shopper history and brand compatibility with the most appropriate audiences.

Impact of COVID-19 on the Retail Media Networks Market

The COVID-19 pandemic caused a contraction in the overall retail media industry for a short period of time. The acceleration of digital media due to COVID-19 made it essential for brands to lean toward activating retail media networks.

However, due to the pandemic, shoppers increased their digital channel usage to make future purchases, thereby creating numerous opportunities for retail media networks in the market. The rise in online shopping means more usage of e-commerce sites by consumers. Amazon, which is one of the biggest retail media networks, experienced its advertising revenues flourishing by 32% in the year 2021.

Moreover, various enterprises introduced new solutions in the market with increasing demand and usage of digital media by retailers. For instance,

• In May 2020, Criteo launched its retail media Ad platform, its first self-service platform for retailers across. The platform allows retailers to multiply advertising profits by offering agencies and brands flexibility, transparency, and control.

Such advancements and shifts to digital media due to the pandemic have contributed to the expansion of retail media networks. 

Segmentation

Analysis by Application

Retail media network has two major applications that include consumer goods and catering.

Retail media networks allow consumer goods enterprises to purchase advertising space over the digital channels of retailers, thereby enabling enriched consumer targeting adjacent to the point of purchase. Thus, the retail media network provides better space for improvement with more engaging advertisements, better data sharing, and more accurate targeting and analysis. With all such features popularity of retail media networks is increasing. For instance, as per Interactive Advertising Bureau Study, 67% of customers are more expected to purchase if they come across an ad for a related service or product during shopping online. Also, applications of various technologies, such as AI and machine learning in retail media networks, help brands with intelligent programming help in targeting potential consumers, therefore empowering advertisers to put their money into getting better ROI.

Key Insights

The report will cover the following key insights:

• Micro Macro Economic Indicators


• Drivers, Restraints, Trends, and Opportunities


• Business Strategies Adopted by the Key Players


• Impact of COVID-19 on the Global Retail Media Networks Market


• Consolidated SWOT Analysis of Key Players

Regional Analysis

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The global retail media network market is distributed into five regions: North America, South America, Europe, the Middle East & Africa, and Asia Pacific. North America held a significant market share in the global market in 2022. The presence of prominent players and their retail expansion, such as Amazon, Walmart, and The Kroger Co., among others, contributes toward the market growth in the region. Also, the number of BNPL (buy now pay later) users in the U.S. are increasing, thereby providing opportunities for advertisers to reach potential consumers online as well as in-store.

The distribution of the global retail media networks market by region of origin is as follows:

• North America – 31%


• South America – 7%


• Europe – 26%


• Middle East and Africa – 13%


• Asia Pacific – 23%

Key Players Covered

The key players in this market include Amazon, Walmart, The Kroger Co., Costco Wholesale Corporation, Target Brands Inc., Instacart, Wayfair, CitrusAd, eBay, Best Buy, Macy’s Inc., Inter IKEA Systems B.V, Criteo, Home Depot, and others.

Key Industry Developments:

• July 2023 - Foodland, in collaboration with CitrusAd, launched its first retail media network. The retail media network would combine the privacy-secured first-party data of Foodland and the relevancy algorithm of CitrusAd to match shopper history and brand compatibility with the most appropriate audiences.


• May 2023 - Kroger announced the expansion of its retail media to over 500 stores. The company partnered with Cooler Screens, the maker of screen tech, to add digital screens that enable video advertising across its stores.