Media agency professionals had a more positive attitude towards retail media in this Criteo survey, ranking it first in return on ad spend compared with Connected TV, audio, search, social media, and metaverse ads, although the differences are small. They particularly liked being able to tie retail media ads directly to sales results.
The rise of retail media networks continues to fascinate. This ANA study is less enthusiastic than most, reporting that 85% of current advertisers feel pressured by retail partners to use their network and only 31% see it as a valuable marketing tool. Just 11% of non-users have plans to join the party.
Return on investment is important but what about sustainability? Well, 95% of IT leaders said it’s high priority for their own companies and when picking suppliers. But 87% said they’d ultimately prioritize commercial objectives over sustainability when faced with economic challenges. Are you surprised?
The U.S. Senate has passed a bill that could potentially ban TikTok in the U.S. if its Chinese owner, ByteDance, does not sell its holdings within a year. The bill now goes to the President Biden, who has said he will sign it. Court challenges are likely to follow.