Retailers that sell digital advertising for the past decade have been grouped into a category generally known as retail media networks. But as these networks have proliferated and grown more sophisticated, brands are pushing them to do more than delivering niche audiences.
“Over the past year, there’s been a really big push from both … retail partners as well as our clients to really integrate what is normally known as national media with retail media,” Lauren Lavin, executive director of North America commerce at WPP’s GroupM, said in this interview with Lisa Granatstein, editorial director of Beet.TV.
Media networks from retailers such as Amazon, Walmart and Target are partnering with media companies to increase their reach among broader audiences.
“They’re not only just search and display, but they’re moving to other partnerships,” Lavin said. “They’re partnering with Paramount and Hulu and Meta and all these different channels which were traditionally thought of as national.”
Spending on these channels is growing as data signals provide more details about consumer behavior and purchase intent.
“Now, we have the ability to really use consumer insights and shopping behavior and signals to inform that type of media,” Lavin said. “It really cuts down on a lot of the waste that we had, makes it more efficient, makes it more addressable to all of the consumers out there.”
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