Are you finding it challenging to keep up with the constantly changing retail media landscape? No need to worry! Pacvue is here to help with our Weekly Retail Roundup, keeping you informed about the latest trends and developments.
In this week’s edition of our Weekly Retail Round-Up, PayPal plans to launch a new advertising network using transaction data from millions of shoppers. In addition, Walmart Realm has introduced a new metaverse-style shopping experience to compete with Amazon. As cookies are being phased out soon, retailers are exploring alternatives. Home Depot has also partnered with Instacart to provide same-day delivery for various items. Stay informed on the latest with these stories!
PayPal Plans to Launch an Ad Business Using Data on Millions of Shoppers
PayPal plans to launch an advertising network that uses its vast user data to drive growth. The effort, spearheaded by former Uber executive Mark Grether, aims to introduce new ad formats and establish a sales business based on consumer purchasing behaviors tracked by PayPal and Venmo.
The initial ad product, Advanced Offers, utilizes AI to tailor promotions to PayPal users and only charges advertisers when a purchase is made. PayPal intends to offer ads to both its customers and external advertisers, leveraging its data for precise consumer targeting. PayPal is another player in the financial industry venturing into the retail media space.
Canva Launches New Beta Product – Canva Connect
At Canva’s annual event, Canva Create, the company unveiled a new beta product named Canva Connect. This new product enables users to seamlessly connect Canva to their Amazon Ads creative library and import/export brand content. This is significant news for most brands, as Canva has become increasingly popular for brands to create ads and listings. Moreover, while working on Canva, users can now put their creatives through pre-moderation to ensure they meet Amazon’s standards. With this new product, Canva and Amazon Ads are saving brands time and helping creators work more efficiently.
Retailers Look for Alternatives as Cookies Are Phased Out
With Google’s plan to eliminate third-party cookies by early 2025, retailers are looking for new ways to maintain effective online advertising. Cookies, which track consumer activity to display relevant ads, have driven a $600 billion annual industry, but are being phased out due to privacy concerns.
With the impending loss of third-party cookies as a data source, what options do brands and retailers have for creating audience targeting groups and launching digital advertising campaigns? Our recent article explores the significance of retail media networks in a cookieless future and how they have become one of the fastest-growing digital advertising channels.
Home Depot Partners with Instacart to Offer Same-Day Delivery
Home Depot recently partnered with Instacart to provide same-day delivery from its 2,000 stores nationwide. This collaboration will enable customers to order various items including garden supplies, building materials, light fixtures and appliances. This strategic move comes after Home Depot’s rival, Lowe’s, partnered with DoorDash to provide a similar offering.
Pacvue Insider
Are you looking to elevate your advertising game? In our latest blog, learn how to utilize Amazon DSP to effectively target new-to-brand customers, drive traffic, and customize ads for advanced targeting.
Heading to Shoptalk Europe next week? If so, the Pacvue team would love to meet you! Taking place 3-5 June at Fira Gran Via in Barcelona, we’re excited to have the opportunity to connect with retailers, brands, and agencies from all over Europe.
