Epsilon, a global advertising and marketing technology company has announced research of a study of retailers and brands on the current and future state of retail media.
The study in partnership with Phronesis Partners surveyed brands and retailers across 12 countries found 37 per cent of retailers currently have off-site programmatic advertising as part of their retail media and monetization strategy.
While 48 per cent of brands expect their retail media investments to increase over the next three years.
The survey aims to better understand brands’ and retailers’ perception and approaches to retail media.
Respondents were asked to share what actions they have taken, or are planning to take, in their retail media strategies and offerings along with the key criteria used to evaluate retail media platforms.
Key findings from the study include brands and retailers frustration by fragmentation. Respondents identified inconsistent targeting and diverse reporting across channels and tactics as the top inefficient driver of retail media.
Yet shoppers pay the price and 64 per cent of respondents agree that retail media networks with multiple technology providers have a negative impact on shoppers.
Joe Doran, chief product officer at Epsilon, said: “We believe that solutions that focus on messaging individual shoppers across channels deliver better performance.
Brands want to talk to existing and potential in-market shoppers. Retailers should facilitate those conversations at scale and across channels that can reach in-market shoppers wherever they may be in the consumer journey.
The survey also finds retailers are not tapping into the potential of reaching shoppers across the open web and brands want accessible retail media networks that can reach more in-market shoppers.