Retail media platforms empower advertisers with tools to create and manage ads and campaigns. Advertisers have the choice of self-service options, which offer autonomy and flexibility, or retailer-managed services, where the retailer takes a more hands-on approach in campaign creation and execution (Figure 3). These platforms enable advertisers to reach customers near the point of purchase, a critical moment in the consumer journey. Additionally, the closed-loop reporting system inherent in retail media provides valuable feedback on campaign performance, helping advertisers to fine-tune their strategies and better understand their customers (Figure 4).

For retailers, retail media represents an opportunity to capitalize on their first-party data. By creating or joining a retail media network, retailers can offer advertisers access to targeted audiences derived from their customer data. This data is invaluable for crafting personalized marketing messages. Retailers can monetize their digital real estate, such as websites, apps, and in-store displays, as well as offsite channels like social media, providing advertisers with diverse touchpoints to reach consumers.

The benefits for retailers are manifold. By leveraging retail media networks, retailers unlock new revenue streams, turning their customer insights and digital platforms into profitable advertising spaces. This approach also fosters stronger partnerships with suppliers and brands, creating a symbiotic relationship where both parties benefit from shared consumer insights.

In summary, retail media networks offer a comprehensive solution to the challenges posed by the cookie death. For advertisers, they provide a means to effectively reach and understand consumers in a privacy-compliant way. For retailers, they offer a lucrative avenue to monetize their digital assets and data. As the retail landscape continues to evolve, the importance of adapting to retail media becomes increasingly apparent, marking a new era in digital marketing.