Business Insider reports on how "retailers are gunning for advertising dollars.
"Retail ad is predicted to grow 31% to $41 billion this year, and, Amazon, Walmart, Instacart, and others are building ad businesses to get a piece of it.
"They're betting on the growth of e-commerce and the hope of offsetting retail's thin margins by pitching advertisers on their shopper data. They're also making big hires to support these ambitions."
In a similar story, the Wall Street Journal points out that "net ad revenues for retail media advertising in the U.S. will grow to more than $60 billion in 2024 from $41 billion this year, according to research firm Insider Intelligence. But the space will continue to be dominated by Amazon.com Inc., which is expected to nab 77% of the spend this year."
The Business Insider story notes that everybody is looking to grab share from someone else. Amazon is pushing "to steal ad dollars from Facebook and Google … Walmart, Instacart, Walgreens and other retailers are also building their own platforms to grab a slice of the ad pie. They're taking a page from Amazon by pitching their shopper data, which could benefit small brands that often struggle to outbid big advertisers on Amazon."
There is a complication, though: "Each retailer has different ways of selling and measuring ads, making it hard for advertisers to manage campaigns across all of them."
And, there are other retailers engaged as well: "Specialty chains like Michaels and gig companies like Uber and Shopify are also getting into the retail media business.
"Shopify, which lets merchants sell products online, has plans to roll out a tool called Shopify Audiences, and let advertisers target ads on Facebook and Google, said sources familiar with its plans. Ulta Beauty is rolling out an effort to sell ads on its own platform, publisher sites, and social networks."
And, it isn't just retailers. The Journal reports that "Marriott International Inc. is introducing a media network this month with Yahoo Inc. that will help advertisers target consumers, in part by using the hotel chain’s data on its guests, to bring them ads on places such as the hotel’s websites and, eventually, on the TV sets in their rooms … A media network in the hotel category presents marketers with a different array of opportunities, the companies said. On the road, travelers need things like ground transportation, personal items they forgot to pack and entertainment during their stay, said Chris Norton, senior vice president of marketing channels and optimization at Marriott International."