June 15, 2024

Retail Media Network Market Propelled By Audience-Targeted Digital Advertising

Retail media networks allow retailers to leverage their first-party shopper data and relationships to connect brands with highly targeted audiences via sponsored products, banners and videos. These media networks provide advantages like precise audience targeting, accountability of ad spend through sales lift measurement and establishing retailers as the primary destination for both e-commerce purchases and brand marketing. The global Retail Media Network Market is estimated to be valued at US$ 1414.48 Bn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Audience-targeted digital advertising continues to gain significant momentum in the retail media network market. Retail media networks analyse customer purchase histories, demographic profiles, location data and online behaviors to segment shoppers into precise audiences for brands. For example, a sporting goods brand can target customers who previously purchased soccer gear or visited related product pages. With detailed audience profiles, retailers can help brands achieve much higher conversion rates compared to traditional display ads. Retailers have become a valuable partner for CPG and other consumer brands to reach their target audiences at scale through these customized, shopper-first ad formats and measurement of sales lift. This is expected to continue propelling growth of the retail media network market over the forecast period.

SWOT Analysis
Strength: Retail media networks can offer advertising solutions to brands that are tailored to customers’ online shopping journeys. They provide insights into purchase behaviors and preferences.
Weaknesses: Retailers may prioritize in-house media operations over third party networks, limiting opportunities. Data privacy regulations pose challenges to how customer data can be utilized.
Opportunities: Growth of online retail provides an expanding market for digital advertising. Partnerships between networks and retailers can unlock new revenue streams.
Threats: Increased competition from large tech platforms threatens market share. Shifts toward cookie-less identifiers require networks to develop new data and targeting capabilities.

Key Takeaways
The global retail media network market demand is expected to witness high growth over the forecast period of 2024 to 2031.

North America currently dominates the market, supported by strong e-commerce sectors in major economies like the US. Europe is also a sizable region, though growth in Asia Pacific is projected to be faster as digital commerce adoption increases in nations like China and India.

Key players

operating in the retail media network market are GATX Corporation, Progress Rail (A Caterpillar Company), TrinityRail, Mitsui Rail Capital LLC, Angel Trains, Beacon Rail Leasing, Railpool, Eversholt Rail Group, Macquarie Group, SMBC Rail Services, VTG Rail Leasing, Mitsui & Co., Ltd., and Touax Rail Ltd. Retail media networks allow these companies to monetize customer insights and drive new revenue from brand advertising campaigns tailored for the path to purchase. Successful networks integrate seamlessly with major retailers’ websites and apps

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it