As retail media explodes to reach a projected $140 billion in global ad spend this year, according to Emarketer, major retailers have found themselves in new strata of competition.
Those mind-boggling predictions mean retail media networks (RMNs) are also expected to make a bigger splash this year at the Cannes Lions festival as marketers increasingly look to them to fill audience targeting gaps left by cookie deprecation. With enviable first-party data based on purchase history and loyalty programs, companies like Walmart, Target and Kroger could cut into ad revenue for giants like Google, Meta, Amazon and Microsoft.
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