With IAB predicting that the retail media industry in Europe will reach €25B by 2027, there is a huge amount of growth to be had — and fast.
As the market continues to grow and more and more retail media networks launch across Europe, the challenge to determine the best investment becomes even more complex.
The Mars Agency’s Retail Media Report Card was first launched in the US in Aug 2022 (and then extended to Australia last quarter), and it has been widely viewed by the industry as an effective tool for brands to compare retail media network capabilities and help determine where and how to allocate their retail media investment. It has also played a part in helping retailers to understand how they stack up and inform their future product roadmaps; our first European edition is here to serve a similar purpose.
To compile this first edition of the Retail Media Report Card, we have partnered with nine retail media networks, all key players within three of the most established countries in Europe for retail media; the UK, France and Germany. For future editions we will be doing a deeper dive into additional markets and retail media networks.
From this initial report, it is interesting to see how evolved each country is in their retail media journey and just how much progress has been made. Although the European market is much more nascent than the US, retail media has still already become an incredibly powerful tool for brands to reach their target audience effectively. By partnering with these networks, brands can tap into the retailer’s customer base and gain access to valuable customer insights. This allows brands to deliver relevant and personalised marketing to shoppers, increasing the chances of driving conversion right at the point of purchase.
Although retail media is an incredibly powerful tool in the commerce marketer’s toolkit, it can be extremely complex for brands to navigate the market. Among the frustrations we hear from clients are the many differences in capabilities, not only from one market to the next, but at each retailer; the fact that legacy structures internally make it hard for brands to plan holistically; that language barriers across the vast European markets force some planning and tactics to be managed locally rather than regionally; and, let’s not forget, the lack of standards in the measurement and insights that networks provide.
It is therefore extremely important to understand as much as possible about each retail media network so you can effectively plan and invest your marketing spend where you will achieve the best results.
Our goal with this Retail Media Report Card is to provide valuable insights and recommendations to our clients, helping them select the best retail media partners across Europe by giving them a transparent overview of the capabilities at key European networks and make investing in retail media a simpler proposition.
We hope you enjoy the first European edition of The Mars Agency’s Retail Media Report Card, and we trust this will become a key driver in helping your teams make informed decisions on their investments.
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