"You search for toothpaste online. While browsing a retailer's app or checking your email, you see an ad for toothpaste. After that, you return to the site and make the purchase. The retailer now knows what you browsed, what you bought, and which ad you saw before checking out. It connects your initial search, your ad exposure, and your final purchase. This insight is then packaged and sold to toothpaste suppliers. That is retail media in action."
"Stephanie Thomas is an associate professor of practice of supply chain management at the Sam M. Walton College of Business at the University of Arkansas. She previously held supply chain roles at Lowe's Companies, IBM, and Stanley Tools and is the executive director of Women Impacting Supply Chain Excellence (WISE). Rodney Thomas is an associate professor of supply chain management and advisor to the Customer Centric Leadership Initiative at the University of Arkansas's Sam M. Walton College of Business."
Retail media connects a shopper's initial product browsing, ad exposure, and final purchase across digital channels. A retailer can observe that a consumer searched for toothpaste, saw a toothpaste ad while using a retailer app or checking email, and later completed the purchase on the retailer site. The retailer links these events to know what the consumer browsed, which ad was seen, and what was bought. The retailer transforms that linked insight into a commercial product by packaging and selling it to product suppliers, providing suppliers with detailed, transaction-level customer behavior data.
Read at Harvard Business Review
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