Are you struggling to keep up with the latest commerce news? You’re not alone. But don’t worry! Pacvue has your back with our Weekly Retail Media Roundup, ensuring you stay informed on the latest trends and developments.
This week, Amazon unveils new interactive and shoppable ad formats for brands to connect with consumers, while Walmart reports significant growth in eCommerce sales. Expedia is launching their own retail media network, and eMarketer projects in-store retail media growth to outpace online for a few more years. Catch up on these stories and get prepared for Amazon Prime Day with our prep guide in this Weekly Retail Roundup.
Amazon Maps Out Future of Streaming Ads at Amazon Upfront
Amazon held its inaugural Upfront presentation this week in New York City, and while stars like Reese Witherspoon, Will Ferrell and Jake Gyllenhaal filled the headlines, it was Amazon Ads’ unveiling of new interactive and shoppable ad formats for Prime Video that really stood out. Brands will see new formats for shoppable carousel ads, interactive pause ads, and interactive brand trivia ads.
“It doesn’t matter whether you sell on Amazon or not,” said Alan Moss, vice president of global ad sales at Amazon Ads. “With our clean rooms and other leading ad tech, we can help all advertisers connect awareness and brand objectives directly to sales outcomes and category growth.”
Ready to take advantage of Amazon Marketing Cloud? Learn how you can discover, create, and target the right audiences on Amazon.
Walmart Reports Significant Q1 Growth in eCommerce Sales
Led by store-fulfilled pickup and delivery and marketplace, Walmart’s global eCommerce sales grew by 21% in the first quarter of 2024. Walmart’s investment in its global advertising business grew by 24%, including 26% growth for Walmart Connect in the U.S.
Walmart is continuing to expand its online business by welcoming third-party sellers onto its online marketplace. Walmart broadens its product offerings by doing this and increases profits by offering advertising and fulfillment services to those sellers.
Expedia Launches Retail Media Network
Expedia, a travel company already known for selling display ads, sponsored listings, paid search ads, and digital display, is planning to launch a retail media business. Expedia expects its new retail media offers to attract non-endemic brands, like financial service companies, luggage brands, or other travel-related businesses.
In addition to providing brands with customer intent and purchase data for display ads on their owned properties, Expedia is also making its internal media buying team available to travel brands looking to make off-site media purchases.
In-Store Retail Media Spend Expected to Exceed $1 Billion by 2028
Driven by an influx of new screens in retailer locations, eMarketer is projecting in-store retail media to grow and outpace online retail media until 2027, with spending expected to exceed $1 billion by 2028. Despite the increased spending, in-store retail media will account for less than 1% of total omnichannel retail media spend through 2028.
Consumer adoption of digital technology for in-store shopping is creating new opportunities for integrating digital media. The expanded use of QR codes, digital payments, smart carts, digital smart screens, and contactless pickup are providing brands with opportunities to engage with consumers while they are in the store.
See how Kroger and Instacart are driving hyper-personalization through innovative in-store technology.
Pacvue Insider
Prime Day Prep Guide
Starting your preparations as early as possible is the best way to ensure a smooth, efficient, and successful Prime Day. Pacvue has you covered with our latest Prime Day Prep Guide – our one stop guide that has everything brands and agencies need to be prepared before, during, and after Prime Day.
Brand Term Targeting
Earlier this year, Walmart introduced ‘Brand Term Targeting,’ allowing brands to compete in the ultra-competitive retail media landscape. Read our latest marketplace article to explore the full potential of Brand Term Targeting to solidify your brand’s category standing, attract new customers, and outpace your competitors.
