Retail media spend is projected to hit nearly $70 billion this year, according to Emarketer. But the high-growth industry still has a lot of kinks to work out.
During an ADWEEK House discussion at Possible in Miami, executives from commerce media networks, brands, and adtech companies took the stage to discuss challenges related to profitability, measurement, collaboration, and standardization.
Stuttering growth
Amazon and Walmart represent the vast majority of retail media spend, using a model that’s nearly impossible for many retailers to replicate given Walmart and Amazon’s size. That’s meant that the promise of a fast-growing ad business based on first-party data has been slow to materialize for most traditional retailers, leading to repeated resets of the entire retail media network.
