Retail Media refers to the digital advertising space, retail data assets and in-store opportunities a retailer or marketplace owns, which is then made available to brands for the execution of advertising campaigns. Campaign goals include (but are not limited to) brand awareness, driving sales and new product discovery. Retail Media includes an increasing range of digital opportunities which can be segmented into off-site, on-site and in-store environments. Retail Media also includes the targeting, optimisation and measurement elements of digital campaigns. (IAB Europe – Pan-European Definition)
The growth of Retail Media has taken off across the EU, with growth of 47% predicted in Europe in 2024, compared to an expected growth rate of 11% for total digital advertising. Source: IAB Europe
IAB Ireland was delighted to host a webinar to share the latest on this emerging channel, which is offering brands even more opportunities to innovate and connect with audiences in meaningful ways.
Marie-Clare Puffett, Industry Development and Insights Director, IAB Europe shared the work to date from IAB Europe’s Retail Media Committee, including the launch of Retail Media Measurement Standards, and the 101 Guide to Retail Media. These materials can be viewed here. Marie-Clare also shared the Committee’s plans and roadmap to year end.
Suzanne McElligott, CEO, IAB Ireland then moderated a panel with representatives from our Retail Media Council:
- Jodie Kelly, Retail Media Specialist, Digitize New Media (representing Schwarz Media / Lidl)
- Eoin Maguire, Head of Commercial Media, Tesco Media