The State of Retail Media 2023
In this survey, Skai and BWG asked 167 retail media brand/seller marketers more than 35 questions covering areas of interest. The following are just a few of the key takeaways you will find in this report:
Economic conditions are being felt. Nearly two-thirds of respondents reported a strong or slightly negative impact when asked how the current economic conditions have affected their 2023 retail media budget.
But the outlook is high. 87% of marketers reported that their organizations plan to maintain or increase spending on retail media in the coming year. In comparison, 93% believe it will remain a priority for the next two years.
Evolving to omnichannel retail. 91% of marketers report coordinating retail media with their offline shopper marketing, and 76% use paid search and/or paid social advertising to drive traffic to their retailer partners.
Discover The Retail Media Challenges in 2023
Retail media is still in a major growth phase. How is it performing now that it’s becoming more popular and highly competitive?
Our survey shows retail media still delivers performance for 96% of marketers!
Only 4% of marketers didn’t at least achieve their desired brand impact last year. And 2 out of 3 reported meeting their KPI expectations with their retail media programs.
Retail media competition is rising, and we’ve been hearing from marketers that the old way of doing things isn’t enough. Marketing organizations must rethink their approaches and strategies to maintain performance in this growing opportunity.
At Skai, we speak with clients, prospects, and industry experts on this topic. Only by knowing where retail media is going can we develop the next generation of innovative technology to support practitioners’ efforts.
The State of Retail Media 2023 provides a valuable snapshot of the current thinking and challenges that are on the minds of today’s marketing decision-makers.
Read this complimentary report today to learn more about what’s happening right now in retail media in areas such as:
- Spending. Planned growth, investment sources
- Success. KPIs, last year’s results, multi-year outlook
- Operationalization. Challenges, data sources, budget fluidity
- Team structure. Outsourced vs. insourced, use of third-party tools
- Omnichannel. Coordination with shopper marketing, search/social integrations
Learn how retail media experts responded in this new report.Download the report