Brick & mortar retailers are evolving and Tom Burgess, President of the Fintech company Snipp Interactive, came on The Longer Game to dive into the current state of retail evolution. For the longest time, Retailers had data from loyalty programs and didn't know how to leverage it, other than tracking purchase habits. They were actually scared of it.
When they figured out how to wield this power, they created a behemoth; enter Retail Media Networks. Leveraging their own ecosystems, Retailers started advertising to their consumers directly and brought brands along with them, somewhat to the brand's dismay. While it helps by actually getting visibility and revenue, they bemoaned because spending feels like a "tax."
While RMNs have seen success, they're starting to hit audience caps, requiring more ad inventory. Want to find out where this is going? Take a listen.
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