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Unveiling the Future of Retail Media: Instore Digital 2.0 at Retail Media Summit UK

In the rapidly evolving landscape of in-store retail media, the paradigm is shifting from conventional impression-based networks to a more sophisticated, sensor-driven approach, marking the dawn of In Store Digital 2.0.

Chris Riegel, the founder and CEO of Stratacache, and a pioneer in in-store digital solutions, shed light on this transformative shift at Retail Media Summit UK last month.

This new wave of technology not only transforms stores into data-rich entities comparable to websites but also unlocks immense opportunities for both retailers and brands.

Embracing Sensory Revolution

The essence of In Store Digital 2.0 lies in its departure from camera-based tracking, addressing growing privacy concerns. Instead, this innovative retail ecosystem relies on advanced sensors to meticulously track the movements of baskets and trolleys as they traverse the store. When combined with loyalty card data at checkout, retailers gain access to a treasure trove of information, linking tracking data to actual sales data.

Personalisation Beyond Impression

Unlike traditional models, retailers utilising this new tech can now discern not only what products shoppers glanced at but opted not to purchase. This invaluable insight enables the creation of personalised customer profiles linked to specific product interests. Armed with this information, retailers can employ retargeting strategies across various addressable mediums, extending even to the realms of Connected TV (CTV) and popular streaming services like Netflix.

Elevating Revenue with Data

While impression-based networks follow the same pricing structure as Digital Out-of-Home (DOOH), conversion networks within this new paradigm boost significantly higher CPMs, ranging from £15 to £80. Furthermore, the fusion of sales and customer data collected in-store facilitates true omni-channel, closed-loop analytics, providing retailers with comprehensive insights.

Beyond Advertising: Maximising Operational Efficiency

This new wave of tech isn't solely about advertising; it's a holistic approach to optimising retail operations. Riegel shared an illuminating example of a Stratacache customer leveraging sensor-based data to identify prime screen positions in their stores and adjusting pricing accordingly. Others utilise the data to pinpoint areas and times requiring additional staff, fostering operational efficiency.

The Visionary Future

As the session came to a close, Riegel offered a glimpse into the future of in-store. He envisioned a scenario where shoppers self-identify at the beginning of their store visit using handheld or trolley-mounted checkout devices. This self-identification paves the way for screens throughout the store to display personalised messages tailored to each shopper—a true "Minority Report moment".

As retailers embrace this sensory revolution, they are not only transforming their stores into data-driven powerhouses but also revolutionising the way they engage with and understand their customers.

Register your interest for next years Retail Media Summit UK

This year Retail Media Summit UK, or as we like to call it “The Retail Media event of the year”, brought together a room full of cross-atlantic industry professionals to delve deeper into the value of retail media for both retailers & brands. Both the UK and US markets were represented by true experts, giving everyone an opportunity to learn from the challenges and opportunities the other is facing.

We’re incredibly excited to be once again co-hosting next year's Summit with the Path to Purchase Institute (P2PI), the leading publication in the United States that offers consumer product marketing executives and brand managers a holistic, 360-degree view of the shopper journey.

Don't miss out on the opportunity to be part of this dynamic community shaping the future of retail media. Register your interest today to stay informed and join us as we continue to unlock the potential of retail media together.


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