But now, with the power of ad tech behind it, this retail media is carving out its own space in brands’ marketing budgets and serving retailers, brands, and customers alike. “Retail media is a growth opportunity for Ulta Beauty ULTA , enhancing the already-strong relationships with our beauty brand partners and helping deliver guest experiences that matter,” said Prama Bhatt, chief digital officer. One reason brands may have more money to spend now on this ad tech form of retail media, or what Criteo competitor Promote IQ (now owned by Microsoft MSFT ) calls “vendor marketing for e-commerce,” is that they’re spending less in stores. While Martin says the ad tech version of retail media is “the only product I can think of that benefits the person who’s paying the money and the one who’s receiving the money,” he agrees the offline manifestations are good lower tech analogies. It’s all retail media.

Source: Forbes August 13, 2020 02:37 UTC