• Skip to main content
  • Skip to secondary menu
  • Skip to footer

Press Media Release

press release distribution

  • Submit a Press Release
  • Market Wire
  • Make a Contribution
  • About
    • Template for press/media release
    • How to structure your press release for maximum impact
    • Crafting effective headlines and leads to capture journalists’ attention
    • Understanding the dos and don’ts of writing press releases
    • Tips for writing clear, concise, and informative press releases
    • The importance of understanding your audience before writing a press release
    • Best practices for incorporating quotes and statistics in your press release
    • Writing effective boilerplates and about us sections for press releases
    • Identifying key media contacts and building relationships with journalists
    • Writing for different types of media, such as print, online, and social media
    • Measuring the success of your press release and tracking media coverage
  • Contact
    • GDPR

How Retail Media Can Brace Retailers for Economic Downturn

November 28, 2022 By admin Leave a Comment

By Troy Townsend, CEO of Zitcha

Just like a traveler wouldn’t want to be caught in a downpour without an umbrella, retailers would be wise not to wade into the coming torrent of economic woes without a resilient framework that will allow for continued growth in the face of hardship – especially right before the holidays.

Of course, today’s retailers are no strangers to economic challenges, having only recently weathered the closures caused by the COVID-19 pandemic. However, now is the time for that resilience to be truly tested. Retailers are about to face a one-two punch comprised of an uncertain holiday season – hamstrung by customers feeling the economic squeeze of inflation – and threats of a looming recession waiting just on the other side of the New Year.

If retailers are expecting reduced revenue as a result of this unique combination of unsavory economic conditions, they will need to establish new income streams that can flow past the floodgates that the incoming recession threatens to close. Advertising is typically one of the first areas of spend to be reduced during a recession, but while ad spend will likely decline, projections for retail media remain strong, nearly tripling from its 2020 levels by 2024. Furthermore, McKinsey estimates the space will generate more than $1.3 trillion by 2026. In recent years, retail media has established itself as a red-hot space that is only growing hotter – certainly an appealing source of growth for any retailer that has yet to tap into the power of data, which stands to add up to 15 percent to a company’s EBIT.

At this stage, there are two key considerations to be made by any retailer looking to make greater use of retail media as a driver of growth. First – and arguably most importantly – is to consider what kind of a framework to use. For nearly two decades, third-party cookies have reigned supreme in the retail media space, functioning as proxies for customer profiles using the sledgehammers of attribution and conversion-tracking where perhaps a scalpel of signals and sales would have been more appropriate. With third-party cookies set to be deprecated in the near future, heralded by Apple’s cookie-crushing rollout of iOS 14, there will be a significant increase to cost of acquisition for brands and retailers. Retail media offers a way for retailers to wield first-party data and the clear reporting it unlocks to create more accurate – and lucrative, when shared with brand partners – portraits of their customers. Even more critically, first-party data can be fully controlled and focused through an omnichannel approach, opening up significantly more possibilities for retailers to maximize the power of their hard-earned data.

The other key consideration for retailers – particularly now – is speed. It’s not enough to slowly make plans to invest in retail media; the best time is now, before the holidays hit. By the time December is finished, many retailers may already be feeling the squeeze of unmet expectations. In terms of both cost and speed, many savvy retailers are partnering with vendors that can provide established, proven platforms that can be quickly integrated and immediately utilized, providing immediate protection from today and tomorrow’s economic strife.

However they choose to do it, establishing a fleshed out, functional retail media platform will be key for retailer success in the coming months and years. A new wave is coming, and retailers that aren’t poised to catch it will risk being washed away.

Filed Under: News Tagged With: media, retail

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Footer

Recent Posts

  • Explore the Future of Silicone Technology with Trelleborg at Silicone Expo
  • U.S. Conference of Mayors Continues to Stand with Ukraine
  • Junevity’s Pioneering RESET Platform Garners $10 Million Seed Investment to Transform Age-Related Disease Treatment
  • Festive Splendor: Christmas Market Magic in Vienna
  • The Art of the Photo Press Release
  • The Future of Press Release Distribution
  • Local vs. Global Press Release Distribution
  • Crafting the Perfect Distribution Schedule
  • Common Mistakes in Press Release Distribution
  • Press Releases: A Cost-Effective Marketing Tool

Media Partners

  • Press Club US
  • ZGM.org: Zeitgeist Generative Media
  • MSL.net: Media Sharing Lab
  • Policymaker.net
A Progressive Shift in Pentagon Media Relations
Rising Right-Wing Support in European Parliament Signals Demand for Stricter Immigration Laws
A Debate of Discontent: Trump’s Falsehoods and Biden’s Cognitive Struggles Leave Voters Disillusioned
UN Panel: Wall Street Journal Reporter Arbitrarily Detained By Russia
TaiwanPlus Celebrates Three Years as a Leading International Media Organization, Nearing 200 Million Global Views
U.S. State Department Approves Major Military Sales to Taiwan: Switchblade 300 and ALTIUS 600M-V Systems
Broken Promises: Coke, Pepsi, and Others Still Operating in Russia Despite Pledges to Exit
Global Investors Flock to India’s $1.3 Trillion Sovereign Debt Amid China and Russia Turmoil
Manufacturers Overwhelmingly Back Labour Ahead of Snap Election: Medius
Long Overdue: U.S. Greenlights Ukrainian Strikes Inside Russia
Evolution of Clean: Conceptualizing the AI-Powered Vacuum Cleaner
How I Built a Successful Side Hustle Creating 360-Degree Virtual Tours for Promoting Travel Destinations
The Power of Pixels: A Call to Action Against Violence in Video Games
Unleashing the Potential of Domain Market Research
Why ethnic Greeks are leaving Turkey
The Enigma Chronicles: Whispers of the Ether
Fashion Redefined: The Role of Generative Media in Cultural Identity and Trends
The News Redefined: How Generative Media is Reshaping Reporting, Consumption, and Public Perception
Contact
S3H.com Announces Groundbreaking Web Dev Service Launch
The Heated Debate Over Immigration Policies in the U.S.
Scientific American Wins Seven Telly Awards
Building a Successful Media Career
Peru IX and PIT Colombia pioneer 400G in LATAM with Smartoptics
Canva to Acquire Generative AI Platform Leonardo.AI to Bring Leading Visual AI to Every Organization
National Press Club Statement on Mexican Journalist Jesus Gutierrez Vergara Killed In Sonora
China Must Change Its Ways or Lose Investment and Trade from the EU
Genus AI Secures $6 Million in Seed Round Extension, Totaling $11 Million in Funding to Revolutionize E-commerce with Generative AI
Hot topics in media today
The Evolving Landscape of Cybersecurity Events
Research from Fiber Broadband Association and RVA Reveals Gigabit Fiber Can Add $326B to U.S. GDP
Contact
Maduro thugs stealing the election in Venezuela
The is no moral equivalence between terrorists trying to murder civilians and a retaliatory and rescue military action
Erdogan threatens to invade Israel
About
The Majdal Shams tragedy is the result of the weak Biden and Harris administration
AML/KYC Compliance AI-Focused Firm Axle Automation Raises $2.5M Led by Diagram Ventures
Reducing Risks in Hypersonic Weapons Development: GAO Urges DOD to Adopt Leading Practices
Former Bush Counsel Urges Kamala Harris to Consider Influential Hispanics for Vice Presidential Pick

Media Partners

  • Media Presser
  • 3V.org: PR/Media Agency
  • Publishing House
  • Media Instances
Global Decarbonization: Uniting Nations through Innovation and Tech Sharing
Phenomenon of Westophobia: Unveiling Diverse Perspectives on Cultural Aversion
AppCoding.com Revolutionizes App Development: A Platform Empowering Developers Worldwide
Unleash Creativity and Innovation with Argil.org: The Revolutionary No-Code Platform for App Development
Napoleon (2023) Final Trailer
Cloudflare Stock Has 75% Upside Potential
The Reply AI Film Festival 2024 is Underway.
Empowering Governance: Harnessing Generative AI in the Public Sector - New Report by MarketAnalysis.com Unveils Transformative Insights
bluShift is a GO for Full Flight-Duration Engine Test
Ukrainian Military Performance and Outlook
Karlsson Appointed as President Industrial EMEA Trelleborg Sealing Solutions
Online Dating Sites: The Size of the Potential Dating Pool Makes all the Difference
DefenseMarket.com Embraces Blockchain Technology for Enhanced Security and Transparency
bluShift Successfully Completed a Full Flight-Duration Engine Test Last Night at Brunswick Landing
Photo Contests as a Powerful Marketing Tool with Huge Storytelling Appeal
Sponsored Post
June Inflation Data Shows Unexpected Cooling, Sparking Mixed Reactions in Financial Markets
ASOM-Net reduces TCO with Smartoptics 400G disaggregated networking
Stay Ahead of the Trend: The Key to Success in a Fast-Paced World
Go Fun, Go Viral: The Secret to Captivating Audiences
Google is set to acquire the Israeli cybersecurity startup Wiz for $23 billion
The Enduring Craft of Storytelling
My Sicilian Adventures: Capturing Moments with the Canon R50
Xi Jinping and the CCP Are Driving China's Economy into the Ground
The Paris memorial for the 1972 Olympic massacre will be held in secret due to concerns about potential violence
Sponsored Post
Nikki Haley as VP Pick: Strategic Choice for a Diverse and Forward-Thinking Republican Ticket
Scotland's Former First Minister Humza Yousaf Faces Probe Over Unwittingly Channeling UK Government Funds to Hamas
PublishingHouse.org Extends Heartfelt Gratitude to Media Partners for Their Unwavering Support
The renowned billionaire investor and hedge fund manager Bill Ackman Publicly Endorses Trump
Media instances in gaming
Political Advertising Unveiled: TV Reigns as Digital Expands
Movie Review: “Army of Shadows” (1969)
Disrespectful, noninclusive, unethical, cutthroat, and abusive
Movie Review: “What You Wish For” (2023)
EPT News Covers the Israel-Hezbollah Conflict from Haifa
Odeko Raises $126 Million to Power the Future of Local Coffee Shops and Food Businesses
5 Tips for Writing a Good Blog Post
Why do we love street food?
Advertising, like any form of promotion, helps to shape social views and attitudes

Copyright © 2022 PressMediaRelease.com

Sponsored by Exclusive Domains