With Retail Media Experiencing Meteoric Growth, ANA Survey Finds Marketers Are Optimistic But Cautious | About the ANA | ANA
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With Retail Media Experiencing Meteoric Growth, ANA Survey Finds Marketers Are Optimistic But Cautious

Lack of measurement standards across retail media networks ranks as marketers’ No. 1 concern
ANA working with MRC to advance individual and cross-company measurement of RMNs

July 23, 2024 (New York) — The retail media space is healthy, with the number of platforms increasing, total spending growing dramatically, and double-digit spending increases expected over the next four years. At the same time, the latest report from the Association of National Advertisers (ANA), “Retail Media Networks: Optimism Tempered with Caution,” reveals an unsettled marketplace filled with complex perspectives among marketers compared to previous years.

Most notably, marketers expressed concern over the availability, reliability, and timeliness of retail media network (RMN) measurement data. They also view the platforms as a “have to buy” versus a “want to buy” decision that remains heavily influenced by the retailers themselves. The good news for RMNs is that this point of view is changing, with 41% of respondents seeing retail media as a valuable marketing tool today, and 66% indicating optimism regarding their future potential.  

Notable findings from the survey include:

  • 71% of respondents report that sales conversation remains the biggest goal for marketers currently using RMNs.
  • Nearly two-thirds of respondents still feel RMNs are a “have to buy” versus “want to buy.” 63% say retailers have a lot of or complete influence on a marketer's decision to use various RMNs.
  • 57% now spend 10% to 39% of their marketing budgets on retail media (versus 48% surveyed a year ago).
  • 62% expect to spend more with RMNs in the next two years. RMN dollars are typically reallocated from other budgets, e.g., shopper marketing, media.
  • While today’s focus is on sales, 68% of marketers are already testing RMNs’ ability to influence mid- and upper-funnel objectives (brand awareness and consideration).
  • Respondents have concerns about RMN metrics’ availability, reliability, and timeliness. In fact, 55% of marketers see the lack of standardization across platforms as the greatest challenge, followed by attribution to sales at 48%, and timeliness of data/analytics at 40%.  
  • Brand safety may be a concern when investing in RMNs. Made for advertising (MFA) sites, as an example, are now part of some off-site offerings. 

“The retail media space is exploding and, as with most relatively young channels, the ‘back end’ is still evolving,” said Bob Liodice, CEO, ANA. “There are more retail media networks than ever before, and that heightens the importance of having standards across platforms that enhance measurement and an understanding of ROI. Once measurement catches up to the creative possibilities, members are telling us that retail media shows continued promise.”

To help accelerate this work, the ANA Media & Measurement Leadership Council (MMLC), led by the ANA’s Measurement for Marketers practice, is working with the Media Rating Council (MRC) to develop a list of measurement must haves and must dos for all RMNs. This list will facilitate “apples to apples” comparisons between various RMNs and may include impressions, audience demographics, reach, and guidance for the timeliness of post campaign data/analytics delivery.

“We appreciate the excellent work behind ANA’s Retail Media Network evaluation, and especially the strong encouragement therein for the RMNs related to standards adoption, measurement consistency, transparency and seeking MRC accreditation,” said George Ivie, CEO and Executive Director, MRC. “We look forward to collaborating with ANA and our members to move these priorities forward.”

The report includes a quantitative survey of ANA client-side marketers fielded in November 2023, following an initial survey in Summer 2022. A copy of the full report can be found here.

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PRESS CONTACT:

Marielena Santana
marielena.santana@digennaro-usa.com

ABOUT THE ANA

The mission of the ANA (Association of National Advertisers) is to drive growth for marketing professionals, brands and businesses, the industry, and humanity. The ANA serves the marketing needs of 20,000 brands by leveraging the 12-point ANA Growth Agenda, which has been endorsed by the Global CMO Growth Council. The ANA’s membership consists of U.S. and international companies, including client-side marketers, nonprofits, fundraisers, and marketing solutions providers (data science and technology companies, ad agencies, publishers, media companies, suppliers, and vendors). The ANA creates Marketing Growth Champions by serving, educating, and advocating for more than 50,000 industry members that collectively invest more than $400 billion in marketing and advertising annually.