Key stat: According to Criteo’s Q4 2023 data, 58% of brands and 51% of agencies want retail media-like service offerings from non-retail industries.
Beyond the Charts:
We are seeing a surge in commerce media offerings from non-retailers, such as airlines, hotels, and financial services institutions. These industries are looking to leverage the wealth of first-party data. Many of these companies already have advertising solutions, but they are building on them by incorporating first-party purchase data to enable more relevant targeted advertising and using that data for both on-site and off-site advertising. This is noted in our Commerce Media Explainer 2024 report. However, non-retailers will have an uphill battle to reach as large an audience as retailers and ensure consumers don’t get overwhelmed with ads. Comscore data shows that more people are visiting retailer sites, which can make them less responsive to ads on sites they don’t normally see.
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Methodology: Data comes from the December 2023 Criteo report, “The Great DeFrag: How Commerce Media Will Consolidate Advertising in 2024.” 1,004 retail media professionals across nine countries around the world were surveyed in Q4 2023. Respondents were a mix of agencies (12%), brands (28%), publishers (12%) and retailers (46%).