The next big thing: Retail media is going to be digital advertising’s “third big wave,” following search and social as “must-haves” for marketers. But some marketers are struggling with how to implement and optimize, shared Nikhil Lai, senior analyst at Forrester, during an Advertising Week session on Tuesday.
Here’s where we are:
And here are the roadblocks up ahead:
Privacy regulations. Nearly half (47%) of marketers report that growing privacy regulations are a barrier to optimizing their retail media practice, said Lai, citing Forrester data.
Organizational misalignment. Almost 30% of marketers said that organizational silos make it challenging to share insights and learnings across teams, said Lai, while over one-third reported their organizations lack standardized measurement across teams, geographies, etc.
Poor retailer relationships. More than a third (37%) of marketers say that their retail media partners don’t spend the time to help them overcome challenges.
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