Last week, industry leaders, brands, and innovators came together at the stunning Battersea Arts Centre for SMG and Path to Purchase Institute’s highly anticipated Retail Media Summit 2024, an event savi were proud to sponsor. Now in its second year, the event was bigger and bolder, packed with insights, bold predictions, and thought-provoking debates that explored the rapidly evolving retail media landscape.
For those who couldn’t make it, here’s a recap of our biggest takeaways and trends from this year’s summit.
- Retail media’s soaring value in the UK and beyond
Retail media has become a $156.4 billion industry globally, with significant impact and growth in the UK market. British retailers are leveraging retail media to strengthen brand relationships, as consumer trust in this channel grows. This translates directly to revenue; retail media provides brands with opportunities to engage shoppers authentically at critical points in the buying journey. Experts like Fiona Blades from MESH Experience, SMG’s Katie Streeter Hurle, and Cyndi Loza from P2PI shared insights on how retail media drives impact across the entire funnel, building customer awareness, consideration, and loyalty.
- Investment in measurement drives retail media success
One of the summit’s most discussed themes was the critical role of measurement in building effective retail media campaigns. Brands investing in data-driven tools to measure not only sales but also broader campaign engagement are seeing the most success. Bianca Hall, Senior Insight Director at SMG presented insights on the need for a balanced approach that goes beyond short-term ROI to track longer-term campaign metrics.
- In-store media poised for exponential growth
Though digital channels continue to expand, in-store media remains an essential piece of the retail media puzzle. The summit revealed that most purchases are still made in-store, making this channel a significant opportunity for growth. Jenny Holleran, from Kroger’s retail media arm, emphasized how retail media attracts new consumers, boosts ad efficiency, and increases overall impact. Colin Horan from Clear Channel UK discussed how Digital Out-Of-Home (DOOH) allows retailers to leverage demographic data, lifestyle insights, and purchasing habits to deliver more targeted and personalized campaigns.
- Omnichannel strategies are the future
Personalization and omnichannel engagement emerged as key elements of successful retail media strategies. Today’s shoppers move fluidly between channels, making it crucial for brands to develop cohesive, cross-platform strategies. Colin Horan highlighted how DOOH allows brands to target consumers based on omnichannel purchase patterns, creating a more precise and meaningful customer experience. The consensus? Retail media’s future is all about connecting the dots across the customer journey.
- Retail media will soon be simply “media”
In a lively panel discussion, Babs Kehinde of PubMatic, Nick Larkins from Qsic, James Taylor, CEO of Particular Audience and Taylor West of Clinch explored the evolution of retail media. The panellists agreed that retail media’s role is expanding beyond a standalone channel to become part of the broader media landscape. Soon, it may be viewed simply as “media,” competing directly with traditional media channels to connect with consumers throughout the entire funnel.
The role of savi in retail media’s future
At savi, our mobile coupons power-up retail media campaigns by driving traffic from advert to store, effectively measuring engagement and activation, and converting sales in thousands of retailers. By seamlessly integrating mobile coupons into retail media campaigns, savi empowers clients to turn shopper interest into measurable action, boosting sales across thousands of retailers. Our data-driven approach allows brands to see the tangible impact of their retail media strategies—demonstrating that retail media isn’t just a trend; it’s the future of engaging, actionable marketing.
