IAB releases new in-store retail media report
The Interactive Advertising Bureau (IAB) has released a report that explores “the value of in-store retail media”.
The announcement:
Timed to NRF’s Big Show, which begins today in NYC, the IAB has released its first retail media report of 2024 – focusing on the value of in-store retail media.
Per the report, “With most retail transactions still occurring physically, there is a growing recognition of the potential in bridging digital advertising with in-person shopping experiences” using “digital signage.” The report also highlights the value of in-store retail media “in a digital advertising landscape moving towards a cookie-less future.”
Other callouts:
● Video – “full motion” and “on-the-go” video – is featured prominently in the report
● Data is cited roughly 38x, highlighting how in-store retail media makes brick-and-mortar stores more intelligent and analytics-driven
● Execs quoted are from Albertsons, Essence Mediacom, Publicis, Criteo, LiveRamp, CVS, Mars, Target/Roundel, Sephora, Walmart, Colgate
● IAB is launching an In-Store Retail Media working group on February 7 to develop best practices for this space
“In today’s ever-changing retail landscape, the IAB’s report highlights the impact of digital smart screens in physical stores. The intersection of technology and retail benefits all: shoppers get personalized experiences, retailers boost sales and engagement, and brands forge memorable connections,” said Arsen Avakian, CEO and founder of in-store retail media tech company, Cooler Screens.
Source: Crenshaw Communications
