This great blog post we found on Smart Retail Media was definitely worth sharing. Shopper marketing is growing and changing – it’s not just limited to in-store displays and premium shelf space in the brick-and-mortar world.
Inspired by last weeks Shopper Marketing Summit, this blogger takes an intelligent look at the growth of retail media:
I’ve attended the Shopper Marketing Summit(formerly In-store Marketing Summit) for the last 3 years. Each year I find that shopper marketing is looking less like trade and more like media. Here are 5 observations:
1. Shopper marketing is growing. Shopper marketing is the fastest growing category of marketing, according to Ad Age figures quoted by Greg Murtaugh of Triad.
2. Stores are powerful reach vehicles. Pete LaFond of Walmart noted Walmart.com reaches 53MM uniques per month and Smart Network reaches 150MM per week. Together they reach 1/3 to 1/2 of US shoppers each week.
3. Retail makes media more powerful. Booz & Company reported consumers say they are 38% more likely to be influenced by mobile ads in-store than at home or in the office. Julie Beck of Ahold demonstrated 7:1 returns from targeting display ads related to their circulars.
4. CPMs are attractive. Rob Gierkink of DataLogix contrasted CPMs: $400 for direct mail, $100 for circulars, and $5-10 for targeted display ads. The Walmart Smart Network ranges $2-4.
5. Smart marketers are realigning their media accordingly. Geoff Jackson, Campbell’s Director of Integrated Shopper Marketing, got his agencies to combine their individual frameworks into a single Campbell’s path to purchase. The framework and planning processes developed in Shopper Marketing have been adopted across the organization from Sales to Brand Marketing and their agencies—advertising, media, promotion, digital.