Retail media, also known as retail ads, is an emerging strategy that is revolutionizing how brands connect with consumers inside retail environments. Essentially, retail media involves the use of advertising spaces available within retail networks, whether physical or digital, to communicate with the public, promote products, and influence consumers’ purchasing decisions at the exact moment they are most receptive to offers.
The importance of retail media and targeted advertising in physical retail
One of the main advantages of retail media is its ability to influence consumers at the exact moment of purchase. When consumers are browsing shelves or walking through a retail store, they are in a receptive mindset to receive information about products. Strategically positioned ads can capture consumers’ attention and motivate an immediate purchase decision.
Increased profitability
For retailers, retail media represents a new and lucrative revenue stream. Instead of relying solely on product sales, retailers can monetize the spaces within their stores by selling them to brands that want to connect directly with consumers at the point of sale. This creates a significant additional profit margin, especially in an increasingly competitive market.
Targeted and personalized ads using video analytics intelligence
Another advantage of retail media is the ability to segment and personalize ads based on target audience data. Various technologies can equip retailers with data, such as loyalty programs, CRM, and Inwave’s iVA solution. Using video analytics intelligence (iVA), retailers can transform images into strategic data, allowing them to understand visitor profiles and consumer behavior in their stores. With this data, targeted and more assertive message delivery becomes possible, improving customer experience and outcomes.
The growth potential of retail media
Retail media is rapidly expanding and promises to transform the advertising landscape in the coming years. According to a study by Boston Consulting Group (BCG) and Google, retail media could generate up to $75 billion in profits by 2026, with an annual growth rate of 22% in advertiser spending on these platforms. This growth is driven by retail media’s ability to deliver a higher return on investment (ROI) compared to other forms of advertising.
Inwave solutions for retail media
Inwave not only offers anti-theft and operational improvement solutions but also provides advertising opportunities within points of sale, making investments in our products even more advantageous.
Advertising on anti-theft antennas
The Inwave AM Solo Plus Antenna is an EAS (Electronic Article Surveillance) anti-theft solution that combines high performance with excellent cost-effectiveness. In addition to protecting your store from theft, this antenna has a design that allows for the installation of advertising banners, transforming each antenna into a valuable media space. This way, retailers can display ads directly on the antennas, creating a new revenue stream that can even “pay” for the initial system investment.
Smart electronic display - Turn device screens into media
Our smart electronic display solution offers a combination of hardware and software that maximizes product security and attractiveness. The electronic locks ensure device security, while the software turns all screens into media vehicles, allowing for the rapid and consistent distribution of ads, prices, and promotions.
This smart display not only improves the shopping experience but also provides valuable data on consumer behavior and campaign performance, allowing retailers to adjust their strategies in real-time, increasing operational efficiency and customer satisfaction.
Features and Benefits:
- Powerful App: Enables quick and reliable media distribution, pricing, and promotions, ensuring consistency in planograms and constant inventory visibility.
- Campaign Measurement: Tools to measure campaign success, understand customer behavior, and identify cross-selling and up-selling opportunities.
- Operations Management: Complete control of assets, including location, brand information, model, and battery status, ensuring efficient stock management.
- Security and Attraction: Electronic locks protect devices while keeping them accessible for demonstrations.
Video Analytics Intelligence (iVA)
Inwave’s iVA solution transforms images into strategic data, enabling effective management and a broader understanding of consumer behavior in stores. This technology brings online retail analytics to physical stores, focusing on improving shopping experiences and outcomes.
Benefits and tips for iVA application:
- Know Your Visitors' Profile: Access statistical data to identify demographic characteristics, such as age and gender, related to behavioral patterns by store, time of day, day of the month, and more.
- Understand the Shopping Journey: Track customer paths in the store, identifying points of interest, product interactions, the most frequented areas, and the average time spent in each section.
- Identify Prime Store Areas: Use heatmaps to identify the busiest and most frequented areas, allowing for product placement optimization and strategic exposure.
- Evaluate Promotional Actions: Track visitor numbers at each period and evaluate the effectiveness of promotions and campaigns, enabling conversion rate calculation by linking with sales data.
- Optimize Layout and Improve Results: Based on behavior analysis, make layout adjustments to enhance the customer experience, optimizing product placement and traffic flow.
- Manage Queues and Improve Customer Experience: Use people-counting data to manage queues, setting parameters and alerts for staff to reduce wait times and improve the shopping experience.
- Adjust Staff Schedules and Optimize Operational Costs: Analyze store traffic patterns to optimize staff allocation, ensuring adequate staffing during peak times and reducing costs during quieter periods.
Retail media represents a great opportunity for retailers to increase their revenue and enhance the customer experience. With Inwave’s solutions, you can transform your points of sale into powerful advertising vehicles, accelerating the return on investment by generating new revenue streams and providing a superior shopping experience.
Talk to our specialists now!
.png)
