According to Hogg, media networks must first understand their customers in order to build an advertising business that goes “beyond just serving the needs of the trade marketers.”
“[There’s] diversity of growth in terms of the buyers coming through to your site, and the places where you might want to put that data to work for you and advertise beyond your site,” Hogg said.
Leaning into retailer identity
Regardless of the tools at their disposal, retailers must develop a clear identity and trusted relationship with consumers in order to thrive in an increasingly crowded retail media landscape.
Young talked about Dick’s unique relationship with athletes’ families. From brick-and-mortar stores or its Gamechanger app, the company has built a trusted relationship with a niche audience.
“That’s what we’re leaning into,” Young said. “That’s the permission that I think we have to get into brand budgets and tell brand stories, as much as drive sell-through.”
Specifically, Dick’s shows up for families of kids playing youth travel sports, who spend a lot of time on the road for tournaments and events. That opens the opportunity for new brands to tap into Dick’s data, such as in hospitality, Young said.
“As a retailer who has a trusted relationship with that consumer, that’s additive to that lifestyle that we are trying to support in a way that’s a really clear multiple layer value for everyone involved,” he added.
