How Commerce Media Is Supporting Retailers, Marketplaces And Brands During Times Of Economic Uncertainty

How Commerce Media Is Supporting Retailers, Marketplaces And Brands During Times Of Economic Uncertainty

technology By Jan 03, 2024 No Comments

Commerce Media: A Crucial Channel for Retailers and Brands Amid Economic Uncertainty

In today’s unpredictable economic climate, retailers, marketplaces, and brands are constantly seeking innovative ways to maintain visibility, engage consumers, and boost sales. Amidst these challenges, the concept of Commerce media has emerged as a pivotal factor in driving profitability for businesses.

Commerce Media Networks: An Emerging Trend

The integration of e-Commerce and advertising has given rise to Commerce media, which has proven to be a vital component in the success of retailers and marketplaces.

This Q&A Interview with Moloco’s Nikhil Raj sheds light on the tangible impact of machine learning and its role in shaping the landscape of Retail media and customer engagement.

Impact of Commerce Media on Businesses

Nikhil Raj, the chief Business officer of retail media at Moloco, discusses the transformative potential of commerce media and its significance in the current economic climate.

Retailers and marketplaces are experiencing a shift in strategy towards launching advertising businesses, highlighting the increasing relevance of Commerce media in driving profitability.

Evolution of Retail Media Advertising

Nikhil Raj, a pioneer in the Retail media space, emphasizes the growing significance of connected TV (CTV) as a key driver of advertising.

He also predicts significant growth in the online food and grocery delivery vertical, fueled by the increasing popularity of these services and the potential for leveraging Commerce media for profitability.

The Role of Machine Learning in Retail Media

Nikhil Raj highlights the transformative impact of machine learning in Retail media, emphasizing its crucial role in leveraging first-party data for targeted advertising.

Effective utilization of machine learning enables real-time adaptation and dynamic display of ads, aligning with user intent and maximizing the value of every impression.

Shift from Brand Awareness to Performance Marketing

Raj emphasizes the significance of performance marketing in driving immediate and measurable returns on investment for businesses amidst economic uncertainty.

However, a balanced approach is essential to sustain brand investment and ensure long-term growth opportunities.

amazon Prime Membership and Retail Media Network

Nikhil Raj elucidates the pivotal role of amazon Prime membership in driving the company’s retail media network and the increasing demand for targeted advertising.

As the expiration of third-party cookies approaches, the focus on first-party data becomes essential for effective targeted advertising.

Challenges and Opportunities in Retail Media Networks

Raj discusses the challenges faced by Retail media networks in adopting machine learning and emphasizes the need for advanced technology infrastructure and data integration to overcome these hurdles.

Furthermore, he highlights the potential for deeper integration of ML algorithms to drive personalization and optimize both onsite and offsite Retail media.

The Future of Machine Learning and AI in Retail Media

Nikhil Raj predicts a deeper integration of ML algorithms in the Retail media ecosystem, driving personalization and delivering a superior consumer experience.

He foresees a comprehensive application of ML and AI to enhance targeted advertising and optimization across both onsite and offsite retail media platforms.

As we stand at an intriguing inflection point, the continued evolution of AI and ML is set to reshape the retail media landscape, offering exciting opportunities for businesses and advertisers.

Source: forbes

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