IAB’s research also indicates that retail media can grow even faster but must first address “key ecosystem-wide issues:
- Improving measurement and data collection is the No. 1 opportunity area identified by buyers.
- Over two-thirds of RMN ad buyers (69%) cited the need to resolve complexity in the buying process. While many RMNs operate in silos and lack automated buying and cross-RMN performance capabilities, some have begun to provide self-service and managed-service activation platforms. Private marketplaces (PMPs) have also begun to emerge.
- Nearly two out of three buyers (62%) cited the lack of measurement standards as a top challenge to continued growth, followed by nearly 60% wanting greater transparency.
- 60% of ad buyers want better collaboration and communication with RMNs. Notably, only one in ten (12%) ad buyers said they are “very satisfied” with their RMN partner relationships and communication.
“Everyone notes a lack of alignment of stakeholders across shopper marketing, performance marketing, brand marketing and beyond” Bustos said. “There’s a big opportunity for brands to leap ahead of their competition if they do the work to align everyone’s interests and provide a unified point of view and clarity around goals.”