Retail media is having more than just a moment – it’s rapidly becoming the main character of the digital ad world. With projected spending set to hit $166 billion by 2025 and accounting for 25% of all digital spendby 2028, everyone is trying to build out their own retail media networks.
The Off-Site Opportunity You Can’t Ignore
While most retailers have mastered the art of monetizing their owned properties, the real frontier lies beyond the digital shelf. Consumers spend far more time consuming media outside of the store, than they do shopping in stores and shopping online. Retailers with first-party shopper data, and brands trying to reach high-intent shoppers, are starting to recognize the opportunity to reach those consumers everywhere, not just when they’re actively shopping.
Audio: The Hidden Retail Media Powerhouse
Video and search have dominated current retail media strategies (accounting for 40% and 35% of spend respectively), CTV is increasingly popular, but audio represents just 10% of the retail media mix. When it comes to brand lift, we know audio makes an impact, especially as part of an omnichannel strategy. There highlights significant gap between audio’s current share and its potential, which presents one of the most compelling opportunities in retail media today.
Expanding Your Retail Media Footprint with Audio-First Innovation
How can retailers fill that gap? Partnering with companies driving innovation in audio, like Consumable. Our retail media partners have access to the world’s largest supply of audio-first inventory. For retailers looking to extend their RMN’s reach in audio, this represents a potential game-changer in accessing net-new audiences and expanding their addressable market.
The Future of Retail Media is Everywhere
The next evolution of retail media isn’t just about expanding reach – it’s about creating seamless, cross-platform experiences that meet consumers wherever they are. With new audio and rewarded-video ad supply adding billions of monthly impressions to the mix, retailers can now offer brands:
- Net new audience access and expanded shopper reach in daily life
- Reduced ad fatigue through diverse format options
- Better targeting and data integration across the entire buyer journey
- Optimized performance and highly efficient delivery
Making the Move to Omnichannel Retail Media
For retailers looking to expand their RMN footprint, the path forward is clear. By incorporating audio and leveraging verified premium, measurable inventory, you can transform your retail media offering from a site-specific solution to a true omnichannel powerhouse.
The numbers don’t lie – retail media is leading ad-spend growth with a 30% year-over-year increase in 2024. But the real winners will be those who think beyond traditional boundaries and embrace the full potential of what a modern retail media network can be.
Remember: in the world of retail media, the store is just the beginning. The real opportunity lies in being everywhere your customers are – whether they’re shopping or not.