‘There’s not enough money to go around’: Agency execs sound off on promises of burgeoning retail media landscape
By Kimeko McCoy
The retail media network landscape is burgeoning to say the least, with every retailer from Walmart to most recently Chase Bank as of this week, looking to cash in on their first-party data and ad opportunities. It’s a trend that’s not expected to slow anytime soon, especially as the fallout from Google’s third-party depreciation continues to escalate the importance of first-party data.
Retail media is expected to make up one-fifth of worldwide digital ad spend this year, reaching $140 billion, according to eMarketer. That figure is significantly up from the forecasted $115 billion of last year. But as advertisers grapple with the influx, some say their ad dollars can only stretch so far.
“There’s not enough money to go around for this to be sustainable,” said Ethan Goodman, evp of digital commerce at The Mars Agency. “Once you get past a certain point, the offerings start to blur together and the question becomes, why don’t I just invest in the [major players, like Amazon, Walmart, Target and Kroger].”
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Source:: Digiday
