Retailers like Walmart, Amazon, and Target are capitalizing on the retail media network boom by monetizing their creator networks. This strategic pivot is aimed at capturing a larger share of brand marketing dollars. With the influencer marketing industry projected to reach $9.29 billion, retail media executives note the importance of formalizing influencer programs despite challenges in measurement. Studies reveal that a significant portion of retail media networks are utilizing creators for various marketing metrics, emphasizing the evolving role of influencers in advertising strategies within retail media networks.
The impact creators and influencers are having on marketing strategies can't be ignored, and retail media networks are well aware of the potential.
We're seeing this inception point at retailers, specifically where they're trying to understand the best way to monetize their creator base right now.
Retail media networks were using creators to boost awareness, access customer data as well as leverage offline sales, online sales and sales conversions.
Influencer marketing has become a vital part of the media mix with marketing spend in the U.S. influencer marketing ecosystem expected to reach $9.29 billion this year.
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