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Our trade fair review last year already covered the topic of retail media. At DMEXCO 2024, this theme was taken to the next level. The trade fair management has now dedicated an entire half of the hall to the topic. Every reputable online retailer worth their salt was present at the trade fair, showcasing their retail media solutions.
Douglas, Rossmann, OBI, Lidl, Kaufland, REWE, OTTO, eBay, Amazon – to name just a few of this year's retail partners. Retail media works simply but effectively: thanks to long-standing customer relationships, online shops know their customers very well and have access to a large pool of first-party data – all without the use of third-party cookies. Advertisers can now go there and place their ads directly on the marketplaces. These users have particularly strong conversion rates compared to traditional channels. This is no surprise: anyone who already researches on a large online shop is usually already relatively far along in the customer journey. Prices for retail media are still reasonable due to the relative newness of the platform. So, if e-commerce is important to you or you own a consumer brand, you're currently missing out on a lot of high-converting traffic. This opens up new revenue opportunities for online shops, in addition to their tight retail margins. Furthermore, retail media programs can, of course, strengthen customer relationships and expand your own first-party data. After initial tests in this area, we can say: Retail media is here to stay!
Meta & TikTok introduce new AI features
Even though we missed booths from Meta and TikTok, both companies reported extensively on Brazil Phone Number Data their innovations in artificial intelligence on stage.
After TikTok had already acted as a DFB sponsor at the 2022 World Cup, the next breakthrough followed this summer: With the Olympic Games in Paris, TikTok recorded the largest event on the platform to date. A whopping 18 million TikToks with the hashtag #olympics were created.
TikTok continues to push ahead with its efforts to make advertising "enjoyable." TikTok offers not only newcomers, but also well-known and established brands the opportunity to expand their existing target audience to include young TikTok users and reach diverse audiences around the world. So far, so predictable. But TikTok's influence extends far beyond its borders: In a survey, a whopping 61% of users surveyed stated that they had purchased a product on another platform because they had previously seen it on TikTok.
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