reports
Published on : Dec 6, 2023
Turbyne, the first solution built for retailers and designed to simplify retail media, today released a state of retail media industry report, “Retail Media Mirage: How the growing divide between retailers and brands threatens retail media’s potential.” The big takeaway: an in-depth survey of stakeholders on both sides shows a major disconnect between retailers and brands that needs to be resolved to ensure the channel meets the potential being forecast. The survey consists of over 300 retail media decision makers among brands and retailers.
“The cracks in retail media’s foundation have begun to show in a big way,” said Greg Stevens, Founder and President of Turbyne. “78% of brands surveyed said it is difficult or very difficult to justify increasing their investment. That’s a troubling statistic given that most brands work with just a handful of retail media networks; 40% of brands work with less than three retail media networks and another 42% work with four to six. The channel’s forecasted growth is dependent in part on brands expanding their spending to other retail media networks.”
Among a wide range of insights across multiple categories, the survey reveals that:
There’s a massive gap between retailers’ perceptions of the value their retail media networks (RMNs) deliver and brands’ actual satisfaction with those same RMNs.
Brands and retailers agree on the solution: Simplifying the buying and selling process is critical.