How will the expanding presence of retail media impact the retail brand experience?
The growing retail media footprint is becoming increasingly significant for brands, with many investing to secure their share of this powerful channel.
It serves as a means to draw customers into retail spaces, ultimately leading to increased sales.
Brands are adapting their strategies, both in-store and out-of-store, to deliver key messages, promote flagship products, and provide in-store redemption opportunities.
Recognising the potential for additional sales revenue, brands are prioritising investment in retail media, thus driving further growth in the market.
How can retailers utilise retail media to gain loyal customers?
Retailers now have the opportunity to utilise retail media for more qualitative data collection, enabling segmentation of customers into distinct profiles.
This facilitates targeted solutions tailored to specific audiences, optimising expenditure.
Brands are actively soliciting and incorporating consumer feedback to enhance satisfaction levels and foster brand loyalty. Some are even incentivising loyal customers with additional benefits to strengthen their allegiance.
Retail media networks are capturing a larger share of advertising expenditure.
How can advertisers retain and expand this spending?
Advertisers can analyse their investment channels to identify those yielding the highest return on investment.
By reallocating spending towards more effective retail media tools and reducing investment in lower-performing channels, retailers can pursue organic growth over time.
How do you perceive the growth potential in Saudi Arabia?
The growth potential in Saudi Arabia is promising due to economic diversification efforts, infrastructure development, and initiatives like Vision 2030.
With a young, tech-savvy population and ongoing reforms to attract foreign investment, Saudi Arabia offers ample opportunities for expansion across various sectors.
By Wang Junwen, Group Head – Retail Experience, Cheil MEA
