In-store is an owned retail media asset that is terribly under-utilised

The research speaks for itself, in-store sales make up 70%+ of purchases and the vast majority of buying decisions are made in-store. And yet, physical retail environments are frequently under-utilised. This is especially true when it comes to Retail Media.

Strong Demand and Proven Effectiveness

The ‘why?’ isn’t a lack of demand or results. In fact, recent research from our friends at Turbyne found that nearly three-quarters (74%) of brands consider in-store media “effective” or “very effective.”

Not only that, but 70% of brands said they would increase their investment by an average of 23% if in-store tactics were combined with digital. And, nearly half (47%) of brands would start spending with midsize retailers if digital tactics were unified in-store for maximum scale.

Perceived Challenges in Implementation

So, why is in-store retail media still in its infancy? One of the main reasons is the perceived difficulty of planning, managing and reporting on physical inventory across the estate. And, making sure that online and offline channels are synchronised. 

Retail media cannot reach its potential without in-store

With the right tools, incorporating in-store to your retail media offering can be surprisingly simple. And, the benefits are undeniable:

  • Instantly your organisation becomes more appealing to brands
  • You open up new revenue streams from your in-store spaces/inventory
  • New and exciting content in your stores improves the customer experience
  • The customer journey is more connected and cohesive across all channels and touchpoints
  • You stand out from your competitors

The first step to unlocking the retail media potential of in-store is understanding exactly what your estate has to offer – every available marketing fixture, floor area, space and screen! 

Colateral allows you to create a digital twin of your physical stores, so you know exactly what is in them in the real-time, and what can be bought by brands or other third parties. Why not utilise all the assets you already have?

To learn more about how to start up or scale up your in-store retail media offering, get in touch with us today or book a demo.

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