"Opportunities in retail media are growing rapidly, as major retailers and their consumer brand partners seize on the power of data connectivity to drive both awareness and sales. In a fireside chat with The Drum, Boots CMO Pete Markey and LiveRamp president and former CFO of Amazon and Electronic Arts Warren Jenson will discuss their journey to date, and look at what the future holds."
"When looked at globally, retail media is going to be a $100 billion opportunity. Amazon is estimated to have the largest share (at around a quarter of the total) but others are also investing heavily. In the UK alone, the market is expected to be worth £2.4 billion by 2024, according to Group M, as growing numbers of brands seize on its potential."
"Boots is a pioneer in the field with the launch of Boots Media Group in September 2021. The unit was described at the time as "central" to the retailer's marketing strategy, and designed to provide Boots' suppliers and partners with the ability to create ad campaigns based on the rich first-party data derived from the Boots Advantage Card loyalty scheme, which counts 17 million active members across its digital platforms, and 2,200 brick-and-mortar stores."
Retail media is projected to be a $100 billion global market, with Amazon holding roughly a quarter of the opportunity and the UK market forecast to reach £2.4 billion by 2024. Boots launched Boots Media Group in September 2021 as a core marketing capability to enable suppliers and partners to create ad campaigns that leverage rich first-party data from the Boots Advantage Card loyalty scheme, which counts 17 million active members across digital platforms and 2,200 stores. The focus is on targeting, analysis and true measurement of campaign performance directly linked to sales, supported by LiveRamp for data connectivity.
Read at The Drum
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