1、 Deborah Weinswig,CEO and Founder,Coresight Research| Copyright 2023 Coresight Research.All rights reserved.Deborah Weinswig,CEO and Founder,Coresight Research| Copyright 2023 Coresight Research.All rights reserved.Executive Summary In this report,we explore shortfalls and opportunities in the retai
2、l media market,including personalized promotions,from a brand advertisers perspective,and discuss their implications for retailers and the overall market.Market Scale and Opportunity We estimate that the US retail media market generated$43.3 billion in revenue in 2022 and will reach$51.9 billion by
3、the end of this year.Coresight Research Analysis The evolution of the retail media market has led to brand advertisers experimenting with newer formats and including a wider array of promotional formats in their marketing mix.Recent Coresight Research survey data reveal that over half of US-based br
4、and advertisers plan to spend more in their next marketing budget than they currently do across promotional formats.While much of the growth in retail media dollars is from incremental dollars,it is important for retailers to address the shifts in trade and brand advertising budgets.A huge 94%of bra
5、nd advertisers plan to divert some of their planned dollars from trade marketing to fund retail media in their upcoming marketing budget,according to our survey.Our survey data reveal that brand advertisers used six RMNs on average in the past 12 months,with almost every brand advertiser(96%)using a
6、t least three RMNs.The large number of RMNs in the market means there is a lot of choice for brand advertisers,making it more important than ever for retailers to differentiate their offering.We expect brand advertisers to limit the number of RMNs they use once they have identified their optimal adv