Retail media - Measurement and maximising sales

Everyone is talking about retail media at the moment. It is also making brands focus more attention on how they can maximise their sales across retail sites more broadly too.

This session, run by one of our partners Entropy, will cover two aspects of this activity that we feel perhaps aren’t getting as much attention with marketers as they deserve: 

•    how econometrics / MMM can be used to measure retail media 
•    how to optimise your sales across the rest of a retail site too, also known as a brand’s “digital shelf” 

What is retail media?

We quite like this description from Exchangewire:

“Retail media describes advertising sold within digital properties in which products or services are also sold. This typically comprises retailer websites and apps, or online marketplaces, though it can include on-site digital displays such as store entrance screens and in-store signage. Increasingly, retail media also comprises off-site campaigns run by retailers using their shopper data on behalf of third-party brands that have their products listed on the retailer’s page or app.”

What is the digital shelf?

The digital shelf is the online experience and interactions consumers have with your products as they research, compare, and purchase products online including on retail sites. Due to the complexity of online journeys, there are a multitude of data points you can use to effectively measure your digital shelf performance on retail sites and optimise your digital shelf to accelerate growth.

What will be covered: 

• The acceleration of change in ecommerce
• How you can go about measuring retail media and digital shelf via MMM
• The proliferation & consolidation of digital shelf vendors
• The value of digital shelf analytics to measure

                    a.    Availability
                    b.    Content
                    c.    Search
                    d.    Media

• The need for a holistic approach - setting up your business processes to drive change based on the business insights
• The importance of selecting the right digital shelf(?) vendor for your business using a RFI or RFP process 

It is aimed at:

• Anyone responsible for allocating or managing budgets in retail media
• Anyone responsible for driving revenue through eCommerce (e.g., marketing, media and brand roles)

Presenter
Alex Tait, Founder, Entropy
Prior to launching Entropy, Alex led the UK & Ireland Media & Marketing Services team at Unilever where he was responsible for communications planning across their portfolio. He has experience across digital and ecommerce leadership roles across varied brands including American Express and Kellogg’s.