In the digital age, consumers are in the driver’s seat. They live in a ‘phygital’ world where they navigate between online and offline channels, browsing, comparing and purchasing at their convenience on mobile apps, websites, and physical stores. This shift in consumer behaviours is an unprecedented opportunity for brands to connect with their audience in more effective ways.
73% of global customers say customer experience plays the biggest role in their purchasing decisions. Leading brands are increasingly adopting omnichannel strategies to create a cohesive experience that meets customers where they are, with the right message at the right time.
To maximise their efforts, many brands are turning to Retail Media Networks (RMNs), digital advertising platforms that offer direct access to engage with high-intent consumers already in a shopping mindset. RMNs help brands boost conversion rates, and ultimately drive greater ROI.
With 96% of marketers saying that retail media helped achieve the desired brand impact last year, and a forecast that retail media will account for 23.5% of all digital marketing advertising spend by 2025, this is the time for marketers to pay close attention to RMNs.
Imagine Sarah, a busy professional looking to buy a new skincare product. She starts her journey by reading reviews on her smartphone during her commute. Later, she checks prices on her work computer and compares skincare ingredients. While at a local store, before making her final decision, she compares the in-store price against e-commerce platforms, while also checking for promotional offers across these platforms.
This rich consumer journey offers several opportunities for brands to connect with customers like Sarah at various stages of their decision-making process. This is where omnichannel strategies come into play, creating an integrated customer experience across multiple channels, both online and offline, and delivering a cohesive brand message across all touchpoints.
Successful omnichannel strategies hinge on two key components: gaining a deep understanding of their customers and reaching them effectively at various stages of the buying journey.
RMNs offer two key advantages for marketers. First, they leverage first-party data collected by retailers to provide rich insights into consumers’ behaviours and preferences. Marketers use this data to serve more personalised and relevant ads, increasing the chances of driving conversions. Second, RMNs’ full-funnel capabilities allow brands to reach consumers at every stage of their decision-making process.
According to research, 85% of brands globally report satisfaction with the increased share of shelf results when using retail media. The same research indicates that 84% of brands in Northeast Asia, 81% in Europe, and 89% in the US agree that product and category insights derived from RMNs’ first-party data have helped shape their marketing plans.
So why are RMNs becoming so popular among marketers? Here are the key reasons:
Unlike traditional digital advertising platforms that rely on third-party data, RMNs leverage their first-party data collected directly from consumer interactions and transactions. This rich data source helps brands gain a high-fidelity picture of their audience, enabling them to develop and deliver the right message at the optimal moment in the consumer’s journey.
RMNs can target high-intent customers — shoppers who are already engaged in the buying process, actively browsing or searching for products within a retailer’s ecosystem. By reaching these consumers at the point of consideration or decision with relevant, targeted ads, RMNs help drive conversions and maximise sales opportunities.
Retail Media Networks have consistently delivered strong Return on Ad Spend (ROAS). Research reveals that when both online and offline metrics are measured together, brands see an average 42% increase in ROAS. By bridging the gap between online advertising and offline sales, RMNs provide brands with a holistic view of their marketing ecosystem, and the chance to optimise their strategies for better performance.
While often associated with driving conversions, RMNs are key drivers of brand awareness and visibility. RMNs allow brands to reach customers by displaying branded content and ads across awareness-focused channels, such as homepage banners and retailers’ social media channels. These placements ensure that brands get maximum visibility beyond their traditional networks.
Retail Media Networks are quickly becoming an essential tool for businesses looking to supercharge their omnichannel strategies. Did you know that brands like Coca-Cola, Mars Wrigley and Amazon are boosting engagement, loyalty and conversions with one of the leading RMNs in the Asian market?
With advanced targeting capabilities and deeper integration across digital and physical channels, panda ads help brands deliver omnichannel, personalised experiences and connect with high-intent consumers at critical moments.
