Retail media network are the channels that are used by retailers for advertisement of their goods or services to the consumer at near or beyond the point of purchase. The techniques, which are used in retail media include online advertising, in-store advertising, loyalty cards, and vouchers. Thus, retail media companies are now targeting audience on the basis of their location, income, and their behavior patterns for selecting their product. Retail media network is increasing rapidly, owing to the rising household income of consumers and e-commerce players in the market.
For instance, according to the Coherent Market Insight’s report, Retail Media Network Market is expected to reach US$ 398.5 billion by 2020 and Business to Consumer (B2C) e-commerce market is expected to reach US$ 103.2 billion by 2020.
Major Players in the Retail Media Network Industry:
1. Walmart
Walmart was founded in 1962 and its headquarter in Bentonville, Arkansas, United States.. The company operates in 20 countries. As of 2022, Walmart, along with other mass retailers like Target, reportedly accounts for 36% of the retail media market.
2. Costco Wholesale Corporation
Costco Wholesale Corporation founded in 1983, and it’s located in Issaquah, Washington, United States. The company operates in 8 countries.
3. The Kroger Co.
The Kroger Co. was launch in 1983 and it’s headquarter located in Cincinnati, Ohio, United States.it operate over 23 country .
4 Walgreens Boots Alliance
Walgreens Boots Alliance was launch in 2014 and it’s headquarter located in Deerfield, Illinois, United States.it operate over 100 country
5. Amazon.com
Amazon.com founded in 1865, with its headquarters in Seattle, Washington, United States.With businesses in over 100+ countries. In 2023 Amazon is a dominant force among retail media networks, commanding 37% market share in a space that's estimated to be worth $100 billion,
6. Best Buy
Best Buy, was launch 1966 and its headquarter Richfield, Minnesota, United States. .it operate over 70 country. In 2022 Technology retail chain Best Buy is just the latest retailer to start its own in-house media ad-sales operation.
7. IKEA Systems B.V,
IKEA Systems B.V, founded in 1983, with its headquarters in Netherlands. With businesses in over 50 countries. In 2023 Ingka Group owns and operates IKEA sales channels under franchise agreements with Inter IKEA Systems B.V.
Definition- Retail media network are the channels that are used by retailers for advertisement of their goods or services to the consumer at near or beyond the point of purchase
