Gemini models and generative AI are transforming retail by personalizing shopper experiences, automating customer service, enhancing marketing, improving operations, and identifying trends. Retailers like Victoria’s Secret, Best Buy, Estée Lauder, Woolworths, and Wayfair use Gemini to analyze data, automate interactions, generate content, optimize supply chains, and speed up development. These advancements help retailers meet customer needs, streamline operations, and innovate.
Google has introduced new features to help retailers during the holiday shopping season. Merchant Center will show global shopping trends to aid inventory decisions. Merchant Center Next adds AI insights for performance summaries and custom reports. Local inventory ads will sync automatically from websites. Google Ads offers tools for new customer acquisition, profit optimization, and brand exclusions. These updates help retailers stay agile and data-driven.
Grocery delivery platform Instacart is expanding its partnership with Google to offer shoppable ads on YouTube, allowing brands to buy clickable ads for same-day delivery. Announced at Cannes Lions Festival, this move follows partnerships with Roku, The Trade Desk, Google, and NBCUniversal. Instacart is piloting the ads with Clorox and Publicis clients. The company also partnered with NYT Cooking to let users shop entire recipes on Instacart.
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New Walmart Connect's Display Self Serve (DSS) ads platform is changing how brands connect with shoppers. This self-serve option recently rolled out. DSS is similar to Amazon's Sponsored Display, offering audience targeting on Walmart.com and the app with more control over frequencies, lookbacks, custom audiences, and exclusions. DSS ads feature visual elements and unique placements, enhancing targeting with proprietary data on shopper behavior.
Costco is developing an ad network using its 74.5 million loyalty members' data to offer targeted ads on and off its website. The retailer is testing capabilities and seeking ad-tech vendors, aiming to become a key player in the retail media space. Profits from the ad business will help keep consumer prices low. Costco's ad revenue could significantly grow by leveraging its membership data.
New Digital Landscapes by Walmart allows suppliers to track online shopper behavior on Walmart.com and the Walmart app. Suppliers can learn where customers start their journey, when they find a product, how products compare in the category, and the customer's path to purchase. They can analyze daily engagement trends and track traffic sources, helping optimize marketing and sales strategies. This aims to increase Walmart's advertising market share.
Retail media is a $45 billion industry in the US. Microsoft’s omnichannel retail media platform simplifies retail advertising for advertisers and retailers. Key features include Fast Track Campaigns for quick setup and AI-powered self-service tools. Since December 2023, Fast Track Campaigns have unlocked over $1.4 million in budgets. New tools like Campaign Health Check, email notifications, and Smart Bidding enhance campaign performance and management.
Expedia is launching a retail media network to boost its advertising business. Despite a crowded market, it believes its focus on travel and first-party data will provide a competitive edge. The network will offer advertisers access to customer data for display ads, as well as the expertise of its internal media buying team. The company also plans to offer measurement services and a data clean room solution.
The rapid growth of retail media networks has resulted in more closed ecosystems, posing challenges for brands like Campbell's Soup Co. due to lack of standardization in measurements and ad formats. Campbell's is optimizing its media buys weekly. Some retailers have adopted the Interactive Advertising Bureau/Media Rating Council's retail media measurement standards. However, the lack of standardization could potentially stall retail media growth.
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