The retail media network market enables retailers to generate additional revenue streams through advertising and influencer marketing. Retail media networks provide a platform for brands to target customers based on their purchase history and on-site browsing behavior. By integrating online and offline shopping data, retail media platforms offer powerful tools for audience segmentation and personalized digital experiences across various touchpoints.
The Global Retail Media Network Market is estimated to be valued at US$ 1414.48 Bn in 2024 and is expected to exhibit a CAGR of 8.0% over the forecast period from 2024 to 2030.
Key Takeaways
Key players operating in The Retail Media Network Market are GATX Corporation, Progress Rail (A Caterpillar Company), TrinityRail, Mitsui Rail Capital LLC, Angel Trains, Beacon Rail Leasing, Railpool, Eversholt Rail Group, Macquarie Group, SMBC Rail Services, VTG Rail Leasing, Mitsui & Co., Ltd., Touax Rail Ltd., CIT Group Inc., and The Andersons Rail Group. These players are focusing on expanding their service portfolio and global footprint to capitalize on rising demand.
The growing demand for omnichannel experiences from retailers and brands is a key driver propelling the retail media network market. Retail media platforms allow companies to provide a unified shopping journey across online and physical stores. This helps enhance customer engagement and purchase conversions. Furthermore, evolving consumer preferences for personalized recommendations based on purchase history are boosting the adoption of retail media solutions.
Global expansion of retail chains into new markets also creates opportunities for retail media network providers. International companies rely on localized retail media strategies for audience segmentation and localized marketing campaigns. Cross-border partnerships facilitate knowledge-sharing and best practices across different geographies. This allows retail media networks to expand alongside global retailers.
Market key trends
The integration of AI and predictive analytics is a major trend in the retail media network market. Advanced algorithms can analyze customer profiles, past transactions, and on-site behavior to serve targeted ads and recommendations. This improves marketing ROI and enhances customer experiences. AI also aids dynamic real-time bidding which facilitates customized ads for each individual shopper. The application of AI continues to grow commercial opportunities for retail media networks.
Porter’s Analysis
Threat of new entrants: New players in the retail media market may find it difficult due to the presence of large and well established players and the requirement for high capital investments.
Bargaining power of buyers: Buyers have moderate bargaining power due to a large number of players offering retail media solutions. However, switching costs are low.
Bargaining power of suppliers: Advertisers and publishers have high bargaining power as suppliers due to their unique content and large customer base.
Threat of new substitutes: Substitutes like social media ads and search ads pose a moderate threat as they target specific customer segments better.
Competitive rivalry: Competition is high with players differentiating through technology, analytics capabilities and local market expertise.
Geographical Regions
North America currently holds the largest share of the retail media network market in terms of value owing to the presence of major retailers and well-developed digital infrastructure. Retailers like Walmart and Target have established powerful retail media networks in the region reaching millions of shoppers.
The Asia Pacific region is expected to witness the fastest growth during the forecast period driven by rising internet penetration, growing e-commerce sales and rising digital adoption in large developing markets of China and India. Local retailers are strengthening their online presence and digital capabilities to leverage retail media opportunities.
Geographical Regions
The United States currently accounts for the major share of the global retail media network market in terms of value due to high digitization across retail industries and significant retail media adoption by top retailers. Walmart is the leader in the country with its vast retail media reach.
China is poised to witness the fastest growth during the forecast period on account of a rapidly developing e-commerce sector and growing investments by retailers like Alibaba and JD.com to build new retail media capabilities and content platforms for brand partnerships.
