Retail Media Networks Make Changes

Retail Media Networks Make Changes

by , July 10, 2023

Retail Media Networks Make Changes | DeviceDaily.com

This is shaping up to be the summer of retail media networks, as Walmart, Albertsons and Kroger have introduced improvements to their RMNs.

This summer, Walmart Connect, the retailer’s retail media arm, is testing the sale of ads on in-store radio and integrating in-store sampling programs with online offerings.

The retailer’s in-store media offerings include TV wall ads on screens, and self-checkout ads that can verify when the ad leads to a future digital or in-store purchase.

And for the first time, brands can now purchase ads on Walmart Radio categorized by region or store.

Albertsons, which launched its in-store media arm, Albertsons Media Collective, in 2021, is now seeking to standardize specifications, terminologies, methodologies and disclosures across media networks.

“While retail media is booming, the lack of standardization has produced an unnecessarily complex, inefficient and costly ecosystem. For retail media to achieve its full promise, we must tackle the issue of standardization head on,” said Kristi Argyilan, senior vice president of retail media for Albertsons Companies, in an interview with Chain Store Age. “To ensure the survival of this industry, we must come together toward a greater goal. We believe this framework will serve as a starting point for creating a unified approach to retail media standardization. Setting a new gold standard is the first stepping stone to revolutionizing how advertisers, agencies and retail media networks work together.”

Kroger, meanwhile, has moved its retail data team in-house.

The expansion comes as Google and BCG predict that the retail media market will grow by 25% per year to $100 billion over the next five years and will account for 25% of digital media spending by 2026.

This summer, Walmart Connect, the retailer’s retail media arm, is testing the sale of ads on in-store radio and integrating in-store sampling programs with online offerings.
 
 

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