Global Retail Media Networks Market Size By Platform Type (E-commerce Platforms, In-Store Networks), By Advertising Format (Display Advertising, Native Advertising), By Retailer Type (Big Box Retailers, Grocery Chains, Online Marketplaces), By Geographic Scope And Forecast

Retail Media Networks Market Size And Forecast

Retail Media Networks Market size was valued at USD 2039.15 Million in 2023 and is projected to reach USD 7284.22 Million by 2031, growing at a CAGR of 19.03% from 2024 to 2031.

• Retail media networks (RMNs) are advertising platforms integrated within a retailer’s digital ecosystem, including websites, mobile apps, and in-store displays. They allow brands to promote their products directly to consumers at purchase.
• RMNs leverage vast amounts of first-party data retailers collect from customer interactions. This data includes purchase history, browsing behavior, and demographic information, enabling highly targeted and personalized advertising campaigns.
• By creating an RMN, retailers monetize their digital and physical spaces by selling ad placements to brands. This additional revenue stream complements traditional retail income, enhancing the overall profitability of the retailer.
• Through RMNs, consumers receive more relevant and timely ads, which can improve their shopping experience. Personalized ads and promotions can drive customer engagement and increase conversion rates.
• RMNs offer comprehensive analytics and reporting tools that provide insights into campaign performance. Brands can track metrics such as impressions, click-through rates, and sales attribution, allowing for the optimization of ad strategies.
• RMNs foster partnerships between retailers and brands. Retailers can collaborate with brands to create exclusive promotions, sponsored content, and co-branded marketing efforts, enhancing mutual growth and customer loyalty.
• RMNs enable brands to reach consumers across multiple touchpoints, both online and offline. This omnichannel approach ensures a consistent and cohesive advertising strategy that aligns with the consumer’s journey from discovery to purchase.

Global Retail Media Networks Market Dynamics

The key market dynamics that are shaping the global Retail Media Networks Market include

Key Market Drivers

• Shift to E-commerce The rapid expansion of online shopping provides a big potential for retailers to advertise using their digital assets. Retail media networks enable marketers to reach consumers directly at the moment of purchase, influencing their purchasing decisions.
• Data-Driven Advertising Retail media networks have rich customer data derived from internet buying habits and loyalty programs. This data enables firms to run highly targeted advertising campaigns, enhancing their efficacy and return on investment.9l;
• Attribution Modeling Retail media networks can use advanced attribution models to assess the impact of advertising on online sales and customer acquisition. This enables merchants to illustrate the value they bring to brands when compared to traditional advertising channels.
• Omnichannel Marketing Retail media networks can integrate online and offline advertising operations. This enables merchants to provide a consistent consumer experience by providing tailored messages over several channels, affecting purchasing decisions both online and in-store.
• Rise of Private-Label Brands Retailers are investing more in their own private-label brands. Retail media networks offer a forum for promoting these products alongside national brands, boosting advertising revenue for merchants.
• Transparency and Measurement Retail media networks provide more transparent reporting than traditional advertising channels. Brands can monitor the performance of their campaigns in real time, allowing for changes and optimization based on data insights.
• Growing Adoption of Retail Subscriptions Retailers’ subscription services are gaining traction. Retail media networks can target these subscribers with relevant advertising based on their past purchases and preferences, increasing revenue for both merchants and brands.
• Focus on Personalization and Customer Engagement Retail media networks enable individualized advertising experiences. Retailers can use customer data to adapt ads to individual preferences and purchasing habits, increasing engagement and conversion rates.

Key Challenges

• Limited Ad Tech Expertise Not all retailers have the internal knowledge or resources to create and run sophisticated ad tech platforms required for a successful retail media network. This may limit their capacity to compete with established advertising platforms.
• Data Privacy legislation Stricter data privacy legislation, such as GDPR and CCPA, may limit the data that merchants can collect and use for targeted advertising. This can make it difficult to personalize ad experiences and evaluate campaign effectiveness.
• Competition from Established Platforms Retail media networks compete with established advertising giants such as Google and Facebook, who have large user bases and well-developed advertising systems.
• Issues with standards and Interoperability Brands may face challenges due to a lack of standards across various retail media networks. Managing and monitoring campaigns across several channels can be complicated and time-consuming.
• Building Brand Trust and openness Retailers must establish trust with brands about data privacy and provide openness in how ad revenue is earned and distributed. This is critical for developing long-term connections with brands.
• Measuring Offline Sales Impact It might be difficult to determine how online advertising affects in-store purchases. Retail media networks continue to face challenges in developing appropriate measurement models for omnichannel marketing.
• Evolving Consumer Behavior and Ad Blocking The proliferation of ad-blocking devices, as well as shifting consumer views toward online advertising, can have an impact on the reach and effectiveness of campaigns across retail media networks.

Key Trends

• Programmatic Advertising Retail media networks are increasingly using programmatic advertising technology. This enables the automatic purchase and sale of ad space, making the process more efficient and cost-effective for both merchants and brands.
• Walled Garden Approach Some merchants are implementing “walled gardens” within their media networks. This implies that advertiser data remains within the retailer’s ecosystem, providing brands with a controlled environment and useful insights while limiting reach beyond the retailer’s platform.
• Focus on Measurable Results The emphasis is shifting to measuring the actual outcomes of advertising initiatives within retail media networks. Brands want precise analytics that show the impact on sales, customer acquisition, and brand loyalty.
• Rise of Retail DSPs Demand-side platforms (DSPs) tailored to retail media networks are emerging. These platforms enable marketers to manage and optimize advertising campaigns across several retail networks in a single location.
• Partnerships and Acquisitions Strategic alliances and acquisitions are increasingly typical in the retail media network market. This enables shops to broaden their reach and complement one another’s capabilities, while also offering brands with access to a larger audience.
• Focus on In-Store Activation Retail media networks are looking into solutions to bridge the gap between online and offline marketing. This could include using targeted internet advertising to attract people to physical locations or utilizing in-store displays to promote online services.

Global Retail Media Networks Market Regional Analysis

Here is a more detailed regional analysis of the global Retail Media Networks Market

North America

• North America is significantly dominating the Retail Media Networks Market and is expected to continue its growth throughout the forecast period, owing to several variables.
• North America is home to some of the world’s biggest and most inventive retailers, including Walmart, Amazon, and Kroger. These merchants have the necessary resources and infrastructure to establish sophisticated retail media networks.
• The region has a well-developed advertising technology ecosystem, including established businesses like as Google and The Trade Desk. This promotes collaboration and speeds up the development of innovative solutions for retail media networks.
• North America has a high rate of internet and mobile penetration, resulting in a large audience for online advertising and a solid base for programmatic buying in retail media networks.
• North American consumers are often willing to share data in exchange for personalized experiences. This enables merchants to capture important customer data, which powers effective targeted advertising across their media networks.
• Leading brands in North America spend considerable marketing budgets, resulting in a high demand for advertising solutions throughout retail media networks.
• Retailers in North America are quick to adopt new technology, including those applicable to retail media networks. This promotes innovation and maintains the region on top of the market.
• Brands in North America prioritize measurable returns from their advertising efforts. This encourages retailers to create robust measuring systems for their media networks, demonstrating campaign efficacy.

Asia Pacific

• Asia Pacific is anticipated to be the fastest-growing region in the Retail Media Networks Market. The Asia Pacific region’s retail sector is booming, thanks to economic expansion and increased disposable incomes. This spike in retail activity creates a favorable environment for retail media networks.
• E-commerce is growing rapidly throughout Asia Pacific, particularly in China and India. This opens up a substantial opportunity for internet advertising and increases the attraction of retail media networks.
• The region has a significant mobile user base. This provides retailers with a unique opportunity to engage consumers directly on their mobile devices via tailored advertising.
• Asian Pacific customers are very tech-savvy and open to innovative marketing methods. This makes consumers more likely to engage with advertising on retail media networks.
• There is a growing investment in advertising technology infrastructure in the Asia Pacific area. This encourages innovation and accelerates the development of innovative solutions for retail media networks.
• As legislation change, Asia Pacific is placing a greater emphasis on data privacy. Retailers may be required to offer new solutions for targeted advertising that are compliant with data protection rules.
• In Asia Pacific, merchants and technology businesses are entering into strategic alliances and acquisitions. This collaboration speeds up the creation and implementation of retail media networks.

Global Retail Media Networks MarketSegmentation Analysis

The Global Retail Media Networks Market is segmented on the basis of Platform Type, Advertising Format, Retailer Type, And Geography.

Retail Media Networks Market, By Platform Type

• E-commerce Platforms
• In-Store Networks
• Mobile Apps

Based on Platform Type, the market is bifurcated into E-commerce Platforms, In-Store Networks, and Mobile Apps. In the Global Retail Media Networks Market, E-commerce Platforms are the dominant players. This dominance arises from an increase in online buying. Retailers use their websites and mobile applications to display targeted advertisements alongside product listings. Contextual advertising has a direct impact on purchasing decisions. Additionally, e-commerce systems provide large volumes of user data, allowing for highly tailored marketing experiences. While in-store networks and mobile apps provide complementing advertising possibilities, e-commerce platforms’ sheer reach and data potential cement their place as the main segment in the Global Retail Media Networks Market.

Retail Media Networks Market, By Advertising Format

• Display Advertising
• Native Advertising
• Search Advertising
• Video Advertising

Based on Advertising Format, the market is bifurcated into Display Advertising, Native Advertising, Search Advertising, and Video Advertising. Display advertising currently has a dominant role. This format includes banner adverts, rich media advertisements, and sponsored product placements. Its enormous popularity can be ascribed to its adaptability and cost. Display ads can be visually appealing, fully integrated into the shopping experience, and targeted at certain demographics. While native advertising, search advertising, and video advertising are all viable possibilities, display advertising’s balance of reach, cost-effectiveness, and adaptability makes it the most common format in the Global Retail Media Networks Market.

Retail Media Networks Market, By Retailer Type

• Big Box Retailers
• Grocery Chains
• Online Marketplaces
• Specialty Retailers

Based on Retailer Type, the market is bifurcated into Big Box Retailers, Grocery Chains, Online Marketplaces, and Specialty Retailers. Amazon and eBay are the most influential online marketplaces. These platforms have a large user base and control a major amount of online purchasing activity. This turns into a large audience for tailored advertising. Furthermore, online marketplaces have extensive client data based on browsing and purchasing history, allowing them to provide highly tailored ad experiences. While Big Box Retailers, Grocery Chains, and Specialty Retailers all use media networks, Online Marketplaces have the largest scale and data advantage in the Global Retail Media Networks Market.

Key Players

The “Global Retail Media Networks Market” study report will provide valuable insight emphasizing the global market. The major players in the market are Amazon Advertising, Walmart Connect, Kroger Precision Marketing, Target Media Network, Instacart Ads, eBay Advertising, Criteo, The Home Depot Media, Macy’s Media Network, CVS Health Media.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In May 2024, Walmart Connect outlined plans to expand its Walmart Connect offering internationally, aiming to reach new advertiser bases and further monetize its vast customer reach.
• In April 2024, Instacart Ads announced a partnership with Google to leverage Google Shopping data for its advertising platform. This collaboration aims to provide CPG (Consumer Packaged Goods) brands with more targeted advertising solutions within the Instacart app.
• In May 2024, Macy’s Media Network recruited a new Vice President who previously held a leadership position at Walmart Connect. This move suggests Macy’s is aiming to strengthen its retail media network capabilities.

Report Scope

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the