DoubleVerify Report on Retail Media Networks Exposes Key Trends and Opportunities for Advertisers in 2024
07 Décembre 2023 - 2:00PM
Business Wire
Survey of 400 ad executives in the UK, US,
France, and Germany finds that a vast majority of US retail media
advertisers plan to expand use in the coming year and that media
quality is essential to their buys
DoubleVerify (“DV”) (NYSE: DV), a leading software platform for
digital media measurement, data and analytics, today released its
state of retail media report, “The Rise of Retail Media: What to
Expect in 2024,” surveying over 400 advertisers and agency
executives about retail media networks (RMNs) in the UK, US,
France, and Germany. The report explores the rapidly expanding
retail media market, which includes RMNs provided by retailers or
e-commerce platforms.
Key takeaways from the survey include:
- The US Leads the Way: 87% of respondents in the US
reported that they use retail media networks, and 83% plan to
increase their RMN spend, leading all other markets. Ultimately, DV
found that the pace of retail media adoption differs between the US
and EMEA, showcasing the need for retailers to drive adoption and
growth with region-specific goals in mind.
- The Importance of Trust and Transparency: An
overwhelming 91% of respondents buying RMN inventory are working
with an ad verification partner today. Additionally, 89% of those
polled in the US said "ensuring ad quality within retail media
networks is important," followed by 77% in the UK and 73% in
France.
- Brand and Agency Benefits: When asked about the biggest
benefits from using retail media networks, 37% of brands cited
"reaching target audience" as their top advantage, whereas 32% of
agencies highlighted "increased brand awareness". When evaluating
RMN effectiveness, brands predominantly measured success by an
"increase in in-store or online sales" (50%), whereas agencies
focused on "impressions/reach" (43%).
- Big E-commerce Representation: A majority surveyed
primarily work with Amazon Advertising. Amazon was ranked the #1
most adopted RMN across 3 of the 4 markets polled: US (51%), UK
(71%), and Germany (51%).
- Reasons for Choosing RMNs: Nearly half of survey
respondents (45%) said their primary goal of advertising with RMNs
is to “attract first-time customers,” followed by “targeting
specific demographics and product interests” (40%), and "reaching
consumers at the point of purchase” (37%).
- Adoption Challenges: When survey respondents were asked
to identify the primary challenges in using RMNs, four issues
emerged as top concerns, each cited by 30% of participants: limited
targeting options, constrained on-site ad space, high costs, and
the absence of ad quality verification by third parties.
- RMNs Garner High Spend But Strong Return: Among all
respondents, nearly half (48%) felt that RMN cost-per-mille (CPM)
rates are higher than other channels, with this sentiment being
particularly strong among agency executives, as 58% echoed this
view. However, when asked about the return on ad spend (ROAS) of
retail media, 61% of buyers said they believe RMNs perform better
than other channels.
"Retail media has quickly become a key channel in digital
advertising, attracting a large share of advertiser ad budgets,”
said Mark Zagorski, CEO at DoubleVerify. ”Brands are recognizing
its value and effectiveness in reaching customers at the purchase
point, especially with third-party cookies phasing. Our research
provides advertisers and retailers with valuable insights to refine
and improve their strategies in this growing and dynamic
space."
DV's study explored several critical areas of RMN advertising
investments:
- Growth: How high is advertiser demand for RMNs and where
is it focused globally?
- Value: Why are advertisers seeking out RMNs and which
KPIs are they focusing on?
- Challenges: What barriers are limiting future RMN
adoption?
- Verification: How can RMNs and advertisers bridge the ad
quality measurement gap?
For the analysis, DV partnered with Sapio Research, focusing on
RMN engagement levels, emerging trends, and industry sentiment.
“Retail Media Networks present a valuable marketing opportunity.
However, like all advertising on the open web, retail media ad
quality is not a guarantee for advertisers or retailers,” added
Zagorski. “That’s why DV’s comprehensive suite of solutions offers
a standardized measurement and optimization framework that
facilitates transparency, drives performance, and enables the
development of more sophisticated retail media strategies.”
Click here to download the full report.
About DoubleVerify
DoubleVerify (“DV”) (NYSE: DV) is a leading software platform
for digital media measurement and analytics. Our mission is to make
the digital advertising ecosystem stronger, safer and more secure,
thereby preserving the fair value exchange between buyers and
sellers of digital media. Hundreds of Fortune 500 advertisers
employ our unbiased data and analytics to drive campaign quality
and effectiveness, and to maximize return on their digital
advertising investments – globally. Learn more at
www.doubleverify.com.
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Media: Chris Harihar chris@crenshawcomm.com
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