Dentsu is aiming to capitalise on the rapid rise of retail media by setting up its first dedicated unit, which it claims will enable brands to unlock new audiences and build stronger relationships across all channels by linking every customer touchpoint.
The agency group insists the Retail Media Specialised Practice will provide brands with the flexibility to build a tailored approach to their own retail challenges by combining Dentsu’s capabilities across customer experience, technology, media, data, creativity and content at scale.
As a result, brands now only need to engage one agency partner to deliver continuous unbound experiences across all platforms and channels, it maintains.
Retail media remains one of the fastest growing channels, as developments in infrastructure, innovation, and maturing attitudes to data privacy drive growing interest from brands looking to unlock new revenue streams.
Dentsu’s own Global Ad Spend report predicts digital retail media investments will accelerate the fastest, with a 17.2% three-year compound annual growth rate. albeit from a low start. WARC Media’s Global Ad Trends report, meanwhile, forecast the market would be worth $141.7bn (£115.8bn) this year.
Dentsu reckons the customisable nature of the solutions within its practice is vital to the success of brands in the retail space; the unit will support brands to implement an end-to-end strategy that creates a connected experience for their customers.
Brands are already reaping the benefits. Dentsu recently increased sales for the leading alcohol brand in the retail market by 22% on Amazon Commerce. It has also worked with Co-op to redesign its retail platform, driven by intelligence gathered from over 3 million customer data records. More than 20 other retailers are on the waiting list to use this data to inform their own strategies, Dentsu claims.
The Retail Media Specialised Practice can connect with people in every medium to serve them where they already are – including social media, search, web, mobile, email, events, TV, and radio – to deliver joined-up experiences that ultimately move people to purchase.
Dentsu integrated solutions lead for commerce and retail UK&I Paul Lynch said: “Consumers no longer go shopping – they are always shopping, and they buy from brands that create emotional bonds. That is anchored in delivering unbound experiences across all channels and touchpoints; no longer restricted by inbound and outbound channels, but experiences that are centred around the consumer. At Dentsu, we are in a unique position of being able to deliver the entire consumer journey and create experiences that match demand.
“Dentsu’s Retail Media Specialised Practice offers flexible, transparent, retailer-owned, technology-independent capabilities that integrate seamlessly into existing tech stacks—a necessity for retailers and brands in today’s landscape. We are providing a roadmap for our customers to deliver the ultimate retail experience and drive value realisation.”
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