Released this year, PA Retail Media empowers retailers to monetize selected slots on their websites via sponsored products, leveraging our market leading recommendations stack to ensure each ad is relevant to the consumer. Retail Media drives high margin advertising revenue for retailers and is becoming a more effective and very measurable portion of suppliers performance marketing budget.
According to GroupM, Retail Media now represents 18% of all global digital advertising and 11% of all advertising. Forbes also says it is on track to make up 60% by 2027, even more bullish than previous BCG forecasting.
As many would know, Amazon has long offset their retail losses through the Amazon Advertising retail media business, last year alone posting US$ 31 billion of revenue from advertising.
Since our release in June, initial results across our clients and their supplier partners have been extremely promising. We’re seeing strong engagement in sponsored relevancy campaigns, significant lift in brand share of voice for suppliers, and ROAS that is outperforming other performance marketing channels by a factor of 5.
We’ve rolled out new features to remove friction and build retention in the onboarding process for suppliers. We’ve launched new ad sets that target keyword queries and we optimised reporting, ensuring suppliers can have real-time access to their impression, clicks, budget balances, and attribution to always have a pulse on measurement.