Retail media platforms enable companies to build brand awareness and drive product sales from one platform. The ability to easily target consumers makes retail media platforms an efficient and cost-effective advertising strategy. As of 2021, Amazon was declared the third-largest advertising platform, accounting for 13% of digital ad spend in the US. Retail media will continue to grow and here are five contributing factors:

1. Precise audience targeting: First-party data will allow companies to create personalized ad platforms.
2. “Pay-to-Play”: Increased sponsorships can help brands gain more organic search visibility.
3. Non-endemic opportunity: Retail media networks are suitable for companies beyond consumer goods.
4. Incumbents are expensive: Privacy changes are increasing the cost of advertising for many brand advertisers.
5. More retailers are launching media platforms: Third party platforms are helping companies establish their own retail media networks