• by Laurie Sullivan  @lauriesullivan, July 24, 2024

Advertisers tapping into retail media networks (RMNs) continue to struggle with performance, data and metrics, mainly because methods are inconsistent, making comparisons across RMNs and other media platforms challenging.

The insights were published by the ANA on Wednesday in its second report. This year, the organization titled it Retail Media Network: Optimism Tempered with Caution.

Some 55% of marketers emphasize the need for RMNs to meet advertiser measurement standards, with it ranking as the No. 1 challenge for them, followed by 48% citing attribution to sales, and 40% said timeliness of data and analytics.

“The ANA getting involved with the MRC is a great move, because they are all about measurement, standards, and accreditation,” said Bill Duggan, ANA group executive vice president.

The ANA Media & Measurement Leadership Council (MMLC), led by the ANA’s Measurement for Marketers practice, continues to work with the Media Rating Council (MRC) to develop a list of measurements and processes for all RMNs.

This list will facilitate accurate comparisons between various RMNs and may include impressions, audience demographics, reach, and guidance for the timeliness of post campaign data and analytics delivery.

While today’s focus is on sales, 68% of marketers are already testing RMNs’ ability to influence mid- and upper-funnel objectives such as brand awareness and consideration, one of the new findings from the report data, Duggan said.

Safety is also significant, and remains a major concern with the growth of offsite ad targeting and Made for Advertising (MFA) site placements becoming more common among retail media buys.

Budgets allocated toward RMNs continue to grow. The data shows that 57% of marketers spend between 10% and 39% of their marketing budgets on retail media, up from 48% one year ago.

Some 62% expect to spend more in the next two years. Perhaps that is because the definition of RMN continues to evolve and expand, adding United Airlines, Chase Bank, PayPal and others, to the list of more traditional retailers such as Target, and Walmart.

“It’s an interesting evolution of the category,” Duggan said. He noted the ability for companies to pull in data from frequent flyer or buyer memberships. “Don’t be surprised if you start seeing the same from American Airlines and others.”

The growth, however, may also be attributed to fear. Advertisers have felt pressure to participate in RMNs, thinking they may receive preferential treatment for shelf space and displays in physical locations. That ideology should vanish as the definition of RNM continues to evolve.

Nearly two-thirds of respondents still feel RMNs are a “have to buy” versus “want to buy” media type, with 63% suggesting retailers have a lot of or complete influence on a marketer’s decision to use various RMNs.