Winston-Salem, March 05, 2024 (GLOBE NEWSWIRE) -- Inmar Intelligence, a leading data and technology company, today announced a new research report conducted in partnership with Ascendant Network, a community made up of 100s of influential marketing, retail and commerce media leaders from the nation’s largest and most progressive companies. The report crystallizes feedback and insights on the current state of Retail Media Networks (RMNs) directly from RMN General Managers and Manufacturer CMOs to understand what’s next for RMNs, and what will separate the leaders from the followers.
While RMN advertising spend rapidly increased in Q4 2023, questions remain around whether this growth is incremental or derived from shifting digital budgets. According to the report, the truth lies somewhere in the middle. To continue momentum, RMNs must prioritize transparency, collaboration and full funnel media tactics inclusive of advertising channels such as Connected TV (CTV), In-store, Digital-out-of-home (DOOH) and Social platforms. This Future Outlook of RMNs report synthesizes integral topics around measurement, investment planning and advertising formats that will be key focus areas in 2024.
"RMNs have reached an inflection point calling for diligent collaboration across the retail media ecosystem," commented Leah Logan, General Manager of Retail Media at Inmar Intelligence. "By addressing core advertiser needs around transparency, flexibility and measurement, RMNs can shift spend in their favor and fuel tremendous ongoing expansion."
As RMNs lure larger shares of national advertising budgets, contributed brand insights indicate planning shifts. By total revenue investment, retail media is predicted to be the leading media channel by 2027, tasking retail-independent media with the increased responsibility of delivering stronger or complementary performance to retail media at the risk of waning marketing investment in those tried-and-true performance channels. Research participants outlined plans to integrate non-digital media over the next two years, while nascent premium formats like CTV, social and digital in-store advertisements will augment existing digital inventory. “At this point, every RMN is looking for ways to grow while cutting costs and adding critical differentiation. There is no one-size-fits all answer for RMNs to achieve these goals, which is why they must find a balance between being focused and opportunistic. It will be critical to stay in the race," concludes Logan.
The full report is available for download at https://www.inmar.com/trends/2024-retail-media-network-success
About Inmar Intelligence
Through curiosity and the intelligent use of data and technology, we make businesses smarter to improve consumers’ lives. We drive retailers and brands to profitable growth by accelerating commerce through data-driven strategic insights and technology. Our Retail Media Network is a dynamic, commerce-minded ecosystem providing greater visibility for retailers, a seamless experience for advertisers, and a more relevant and consistent customer experience. From digital display and search, social, in-store, linear TV, Connected TV and Digital Out-Of-Home, we offer high-performing retail activations that reach shoppers in the moments that matter to them.
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