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What is driving retail media growth?

The retail media market has come a long way since Amazon first launched its network in 2012. Since those early days, a broad range of retailers and other businesses have established their own retail media networks, from Walmart to Kroger, Tesco, Best Buy, Instacart and even Marriott.

This has catalysed growth which is set to continue for the foreseeable future. GroupM has forecasted that retail media will reach $160bn in spend by 2027.

In a changing and competitive market, and as the twilight of the third-party cookie looms, brands are seizing the growing opportunity offered by retail media.

This abridged excerpt from the opening chapter of Econsultancy’s Retail Media Best Practice Guide, offers a definition of retail media, and reasons for its rapid growth.
 
ICYMI: Retail media webinar

This webinar draws on Econsultancy’s new Retail Media Best Practice Guide, capturing the key opportunities and the optimal strategies that marketers and ecommerce practitioners can make the most of in this emerging area.
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Retail media can help brands reach in-market customers near the point of sale. This guide looks in-depth at the retail media opportunity, with best practice advice on strategy, campaign execution and measurement.
 
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