NRF 2024: Retail media networks go mainstream
Retail media networks are coming of age and will feature prominently at NRF 2024: Retail’s Big Show in January.
Retail media networks provide retailers’ brand partners with direct promotional access to shopper. Typically, the networks deliver targeted ads to segmented consumers via channels such as in-store digital displays, as well as online advertisements and connected TV.
They emerged from the grocery/CPG sector, with Target’s Roundel network, launched in 2019, as an early example. Grocery retailer Albertson’s is also trying to stake a claim as a leader in the retail media network niche by developing a framework to standardize specifications, methodologies, terminology and disclosures across retail media networks.
However, retail media networks are increasingly popping up outside the grocery/CPG sector, in verticals as diverse as consumer electronics (Best Buy) and beauty/cosmetics (Ulta Beauty).
With retail media networks becoming such a mainstream feature of the industry technological and promotional landscape, it’s not too surprising that a daylong preshow event, “What's in Store for Retail Media Networks,” is being held Saturday, Jan. 13, at the Jacob Javits Center in New York City, which is also the site of NRF 2024: Retail’s Big Show, Jan. 14-16.
Hundreds of retailers, in-store experience and technology experts, brands and agencies will attend this full-day event focused entirely on what's widely considered the most important channel in the retail media network ecosystem - the physical store. According to NRF, Retail media is a $45 billion market this year and will continue to grow by about $10 billion in 2024.
In addition to a keynote address, the event will include three tracks of speaking sessions attendees can choose from: shopper experience and content; technology, measurement and insights; and network monetization and value.
Session topics will include the impact of generative AI on retail media networks, streaming and retail media networks, the role of the agency in harmonizing online and in-store retail media experiences, creating a more personalized in-store retail media experience, and creating a total in-store communication architecture.
The event will also feature roundtable and panel discussions, networking breaks and lunch. Attendees will learn how they have been missing out on monetizing the largest of all retail media network audiences — in-store shopper traffic — and how they can start reaping those benefits.