Retail Media Networks (RMNs) are swiftly advancing in the advertising domain. Currently, 56% of brands collaborate with at least five RMNs. However, while they are recognised for boosting sales, their capacity to promote brand growth remains questionable. RMNs now face the task of proving they can augment brand growth and deliver substantial return on advertising spend.
Many brands feel pressured into embracing RMNs, with 85% feeling compelled by retailers. They're seen as essential, especially in economic downturns, safeguarding against shifts to store brands. But, 42% of advertisers are still uncertain, questioning whether RMNs are valuable tools or just business costs.
A significant challenge is the need for standardised measurements and transparency in RMNs. Nevertheless, optimism prevails: 52% of advertisers believe that within two years, RMNs will become key marketing tools, marking a rise from the present 31%, and a noteworthy 73% anticipate increasing their RMN expenditure.