July 24, 2024

Global Retail Media Networks Market Is Estimated To Witness High Growth Owing To Walmart and Amazon.com

The global Retail Media Networks Market is estimated to be valued at USD 1,227.84 million in 2021 and is expected to exhibit a CAGR of 19.03% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

 Market Overview: Retail Media Networks refer to advertising platforms used by retailers to monetize their websites, apps, and other digital properties. These networks help retailers generate revenue by allowing brands to display targeted ads to their customers. The rising popularity of online shopping and the increasing demand for personalized ads are driving the growth of the Retail Media Networks Market.

Market Dynamics: The market for Retail Media Networks is primarily driven by two factors: Walmart and Amazon.com. Walmart is one of the largest retailers globally, with a strong online presence. The company has its own advertising platform, Walmart Media Group, which provides brands with various advertising opportunities across Walmart’s digital properties. Similarly, Amazon.com has a robust advertising platform called Amazon Advertising, which enables brands to advertise and promote their products on Amazon’s e-commerce platform. These retail giants are attracting more brands to advertise on their platforms, leading to the growth of the Retail Media Networks Market.

SWOT Analysis:

Strengths:

  1. Strong Retailer Partnerships: Retail Media Networks benefit from their partnerships with major retailers like Walmart and Amazon.com, allowing them to reach a large customer base.
  2. Targeted Advertising: These networks offer targeted advertising solutions, helping brands reach their desired audience effectively.

Weaknesses:

  1. Dependence on Retailers: The success of Retail Media Networks is highly dependent on the popularity and reach of the partnering retailers. If a retailer faces a decline in sales or popularity, it can adversely affect the network.

Opportunities:

  1. Expansion into New Markets: Retail Media Networks can explore opportunities to partner with emerging e-commerce players and expand their reach in untapped markets.
  2. Innovation in Ad Formats: Developing new and engaging ad formats can attract more brands to advertise on these platforms.

Threats:

  1. Increased Competition: As the Retail Media Networks Market grows, more players are entering the industry, leading to increased competition among networks.
  2. Ad Blocking: The rising use of ad-blocking software by consumers poses a threat to the effectiveness of advertising on these networks.

 Key Takeaways:

The global Retail Media Networks Market is expected to witness high growth, exhibiting a CAGR of 19.03% over the forecast period, due to increasing demand for personalized ads and online shopping.

The North American region is expected to dominate the market, driven by the presence of major retail giants like Walmart and Amazon.com.

Key players operating in the global Retail Media Networks Market include Walmart, Amazon.com, Costco Wholesale Corporation, The Kroger Co., Walgreens Boots Alliance, Inc., TESCO PLC, METRO, Home Depot Product Authority, LLC., Target Brands, Inc., Best Buy, Inter IKEA Systems B.V, Carrefour SA, and eBay Inc.

In conclusion, the Retail Media Networks Market is witnessing significant growth due to the strong presence and partnerships of retail giants like Walmart and Amazon.com. The market offers targeted advertising solutions to brands, helping them reach their desired audience effectively. However, increasing competition and the threat of ad-blocking software pose challenges to the market’s growth. Overall, the Retail Media Networks Market is expected to continue its upward trajectory in the coming years.