In a Future Forward session on May 17 in Chicago, Skai’s Nich Weinheimer will look at how brands are rethinking traditional strategies in favor of connected commerce marketing. For more information and to register for the in-person event, visit the Future Forward website.
The digital landscape has changed dramatically since 2019. With e-commerce penetration still 35% above the pre-pandemic baseline, retail media has exploded, and spending is estimated to grow from $30 billion to $100 billion in the next two years.
According to the 2022 State of Retail Media Survey conducted by Skai and BWG Strategy, 80% of the marketers surveyed plan to increase spending on retail media advertising in the next year; 20% of these respondents plan to increase spending by more than 26%. Spending on search and social shoppable ad formats is also on the rise, up more than 20% in the last year alone.
New privacy regulations have led more and more brands and retailers to seek marketing solutions that give them ownership over customer data. The future of commerce marketing is data-driven, consumer-centric, full-funnel, measurable and omnichannel.