Saks Debuts Retailer Media Network
Saks has joined the growing number of department store chains and luxury fashion websites to launch a retailer media network as a way to grow revenue and help brands reach shoppers with digital advertising.
Saks Media Network, unveiled on April 23, follows similar moves from industry peers Nordstrom, Macy’s and, more recently, Shop Premium Outlets (SPO), the online marketplace and outlet for luxury goods owned by mall operator Simon Property Group.
The launch comes three years after Saks parent company Hudson Bay Company split the Saks Fifth Avenue brick-and-mortar and e-commerce (saks.com) entities into two separate companies back.
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Saks Media Network leverages the company’s first-party customer data and traffic of more than 435 million annual site visits to provide brands more opportunities to engage Saks.com shoppers on Saks.com and its mobile app through sponsored product ads and on-site display banners, the retailer said in an announcement.
“With the launch of Saks Media Network, we are expanding our offerings for brand partners by helping their products reach the right luxury customers when and where they are actively looking to purchase,” Kristin Maa, senior vice president, growth, Saks, said in the announcement. “Our view of the full shopping journey across the Saks Fifth Avenue digital and physical ecosystem enables meaningful, personalized customer engagement and product discovery, and the Saks Media Network is the next step in leveraging our data-driven insights and industry expertise to enhance the customer experience.”
The company says Saks Media Network progresses its strategy to serve the full continuum of luxury shoppers, while strengthening relationships with brand partners. Saks’ strategic in-house media team leverages “customized strategies” and offers reporting and insights to help brand partners drive business.
Ramy Brook Sharp, founder and creative director of New York-based fashion house Ramy Brook, added, “Saks’ Media Network presented an exciting new avenue to achieve our business goals by increasing our brand’s visibility and driving improvements in both traffic and revenue for Ramy Brook on Saks’ e-commerce platform. Saks’ mission to help customers express themselves through inspiring fashion is closely aligned with our vision to empower women and help them feel confident wearing Ramy Brook, so we were thrilled to embrace this new opportunity to engage with Saks customers.”
As the retail media field continues to grow, Saks is one of the earlier luxury department store chains to debut its own network. Mass retailers and supermarket chains continue to dominate the space, though other entities are diversifying the sector, such as JPMorgan’s Chase Bank, which launched Chase Media Solutions earlier this month, as well as fitness center franchiser and operator Planet Fitness, which unveiled PF Media Network in January.
