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Retail media is experiencing a boom, says Anders Hjorth of EPAM Continuum. The shift to advertising can require a lot from retailers, who could do worse than follow these key steps.
Retail media is a top priority for many retailers in 2024, as it offers the prospect of generating additional high-margin revenue with high margins. While retail media is advertising, it requires an entirely different skill set, new technology, data handling, and a redefinition of interactions along the customer journey.
At the Retail & E-Commerce Forum in Paris earlier this year, EPAM Continuum shared a stage with Gwenola Coicaud, director of Kingfisher Retail Media, to discuss experiences on building retail media programs from a commercial, organizational, and technological point of view.
Retailer realities
Retailers today face four realities related to margins, digitalization, data handling, and advertiser expectations. Firstly, operating margins are low. American food retailers operate at a margin below 2%, as …
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