Summary of Adweek's The Rise of Retail Media | Pioneering the Future of Retail Media

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The rise of retail media is being driven by the deprecation of the third party cookie and the growth of e-commerce. Retail media networks, such as those offered by retailers themselves or those offered by third party platforms, are becoming more common, but fragmentation makes it difficult for marketers to manage their campaigns. Brands are finding value in using retail media to drive brand equity, conversions, and reach, even outside of shopper marketing.

00:00:00 The trade desk is a company that helps retailers and brands maximize the value of shopper data. Brenda Tuigg, senior vice president of data partnerships at the trade desk, will be talking about the rise of retail media. Luke Heigel, Walgreens' senior vice president of data partnerships, will discuss ways Walgreens is using the trade desk to grow its business. Paul Gelb, Bayer's senior vice president of data partnerships, will talk about how Bayer and the trade desk are working together to grow retail.
00:05:00 The rise of retail media is being driven by the deprecation of the third party cookie and the growth of e-commerce. Retail media networks, such as those offered by retailers themselves or those offered by third party platforms, are becoming more common, but fragmentation makes it difficult for marketers to manage their campaigns. Brands are finding value in using retail media to drive brand equity, conversions, and reach, even outside of shopper marketing.
00:10:00 Retailers are playing a bigger role in the digital advertising space, and Walgreens is leading the way by creating self-service audience and measurement solutions. This is opening up new opportunities for both brands and retailers, with brands leaning into the open internet and retail data in the open internet for those upper funnel awareness and consideration campaigns and leaning into the retailer's own and operated properties for those lower funnel conversion campaigns. Measurement helps track it all and most importantly for both brands and retailers, drive to that holy grail of sales and lift in sales.
00:15:00 The nature of the relationship between the agency, client, and sell side community is changing, and this creates opportunity for the retailer to have a different role and a different relationship with its customers. In addition, the privacy landscape is becoming more complicated, and retailers have the ability to deliver personalization without relying on third-party cookies. Walgreens advertising group is anchored in the direct relationship it has with Walgreens with over 97 million customers and patients. Through technology, it can translate 75% of those customers to a digital ID, and it can reach them across multiple platforms.
00:20:00 The Walgreens advertising group is striving to be more human, more integrated, and more open in order to provide better experiences for customers and suppliers. The group is also striving to be more targeted and to be able to connect brand first-party data with Walgreens first-party data to be able to activate deep insights and deliver better targeting.
00:25:00 This video discusses how retail media is growing, and discusses how third party cookies are a part of this growth. Paul from Bayer mentions that they're grateful for the partnership between Adweek and their partners Luke from Wag and Paul from Bayer, and talks about his favorite thing about his job. Luke from Wag tells a similar story about his favorite thing about his job. They both mention that one of the misconceptions about retail media is that it's just about running search ads or display ads on a retailer's site. They go on to say that retail media is much more than that, and that it's an important part of the ecosystem in which all media exists.
00:30:00 Luke Wooten, CEO of Wag, discusses the role of retail media in the digital age and how it will change over time. He argues that the industry has put retail media in a "bucket" and is not sure what to do with it, stemming from the fact that retailers are not the "primary target" of most advertising. He predicts that retail media will change over time, with more emphasis on connectivity and direct relationships between brands and retailers.
00:35:00 This video discusses the rise of retail media, highlighting how direct relationships between publishers and retailers translate into experiences that are meaningful to customers. Retail media has the power to help advertisers achieve sales and penetration lifts, as well as bring new buyers into a brand.
00:40:00 Air, a media company, has been working to increase its relevance and target its ads more effectively in order to improve its ROI. This has included restructuring its teams to better support these goals, as well as engaging its sales and commercial strategy teams.
00:45:00 Adweek predicts that retail media will continue to grow in importance, with more convergence between advertising and other departments within businesses. In addition, the role of chief marketing officer will shrink in size, as more expertise is needed in media execution and operations.
00:50:00 The rise of retail media will require better integration between marketing, supply chain, and other parts of the business, and the trade desk is trying to help its clients achieve this.
00:55:00 In this video, Adweek discusses the rise of retail media and how pioneers such as Walgreens are enabling audiences in measurement to be used the way that advertisers at times want. Retailers using technology such as forward slash considering to ensure the first party data feeding into the retail media network is accurate and updated in a timely matter are also discussed.

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This YouTube video discusses the rise of retail media and its importance in marketing strategies. It explains how retail media allows brands to track results over time, making it a more effective way to spend advertising dollars.