Retailers are gunning for advertising dollars.
Retail ad is predicted to grow 31% to $41 billion this year, and, Amazon, Walmart, Instacart, and others are building ad businesses to get a piece of it.
They’re betting on the growth of e-commerce and the hope of offsetting retail’s thin margins by pitching advertisers on their shopper data. They’re also making big hires to support these ambitions.
Insider is keeping track of all the moves in the space.
Amazon dominates retail media
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Amazon has become the third-biggest digital advertising company behind Google and Facebook, notching $31 billion in advertising in 2021.
It’s vying for advertisers’ budgets by promoting its ability to grow awareness with consumers and pitching TV and in-store ads.
Read more: Amazon just broke out advertising for the first time in its earnings. Here’s everything we know about its growing ad business.
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Walmart and other big-box retailers
Walmart, Instacart, Walgreens and other retailers are also building their own platforms to grab a slice of the ad pie.
They’re taking a page from Amazon by pitching their shopper data, which could benefit small brands that often struggle to outbid big advertisers on Amazon.
But each retailer has different ways of selling and measuring ads, making it hard …read more
Source:: Business Insider