The conversation around #retailmedia is growing at such a rapid rate that we’re now seeing the term used broadly, risking it becoming a catch all term without much valuable meaning.
Over a series of short posts, we’ll explore the various components of successful #retailmedia, starting with the need for collaboration, building towards one holistic commerce team.
Our parent agency SMG recently published a report in collaboration with LiveRamp titled ‘Co-creating a new marketing channel – why collaboration is key to the future of retail media’. A primary point explored in the report is the vital need for structural and cultural changes at both a brand and retailer level, bringing together historically disparate teams.
A recent survey of Association of National Advertisers members highlighted that despite there still being several complexities and nuances in the relationship between retailers and brands today, #retailmedia is ever evolving with core responsibilities moving closer together as #retailmedia is built into the overarching marketing and communications plan.