Marketers are ready to adopt AI in the retail media industry. A majority (53%) of marketers believe AI will “significantly improve” the way shoppers are targeted and delivered relevant ads, according to a survey of 200 CPG advertisers commissioned by the in-store media technology company Cooler Screens.
37% of marketers say AI’s impact on the industry will be “moderate, improving some aspects (of retail media), but not transformative.” Nine percent said traditional methods would remain in place with slow adoption, and 1% said they were unsure of the role of AI at this point.
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Why we care. It’s worth noting that only 1% of marketers in this survey were hesitant about the impact of AI on retail media. The vast majority are ready to adopt AI for targeting, serving relevant ads to customers, and other aspects of advertising. Retail media covers the entire customer journey, including the “last mile” when shoppers are on the retailer’s digital channels or in-store. Using AI to connect with customers in this crucial part of the journey can give advertisers an edge over their competitors.
Other discoveries. When asked about the role of AI in analyzing and leveraging in-store shopping behavior, here were the answers:
- 45% say AI will be useful, but human analysis will remain paramount.
- 44% believe AI will be essential for real-time data analysis and buyer insights.
- 10% consider in-store data too complex for current AI capabilities.
- 1% have no opinion on the effectiveness of AI in this context.
Personalization. Advertisers were also asked about personalization. Would AI be used to deliver highly personalized experiences to retail media buyers?
- 52% predict that AI will enable highly personalized shopping experiences.
- 34% expect some improvement in personalization, but challenges remain.
- 11% think personalization via AI is overrated and its use limited.
- 4% need more information to assess the role of AI.
Data. And finally, with the collapse of third-party cookies and other data challenges for advertisers, will AI help bring together retail’s fragmented online and offline data sets?
- 54% view AI as crucial for seamless integration of online and offline data.
- 29% find AI useful but not essential, as other tools can also handle data integration.
- 15% have privacy concerns regarding AI integration.
- 2% are indifferent or uncertain about the impact of AI.
“At the NRF, the IAB has published a report highlighting the value of in-store media,” Artem Lavrinovich, head of data and product offering at Cooler Screens, said in a statement. “This report highlights that AI enables a more complete understanding of in-store shopping, alongside the information we have long had online. AI’s ability to deepen our understanding of consumer behavior is a big step forward for retail media. »
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