Posted by Brand Safety Institute • Apr 19, 2023 8:30:00 AM
In the continually evolving modern digital world, advertisers have access to a vast array of ad placement options. According to a recent Forbes article on the retail media space, advertisers need to be mindful of not only where their ads appear for targeting the right audience, but also keeping brand safety and user data privacy top of mind. With data breaches and privacy scandals becoming increasingly common, it is more important than ever to protect user data. This is a hot button topic right now, in the U.S. especially, with the ongoing discussion surrounding the social media app TikTok. Similar data security concerns were raised when Temu was introduced and quickly became one of the most downloaded apps ever.
The retail media industry has experienced a significant rise in recent years, with retailers increasingly using their platforms to capture first and zero party consumer data to offer more value to their customers. According to a report by eMarketer, US retailers expected to spend $22.26 billion on digital advertising in 2021, up from $15.84 billion in 2019. This growth is driven by retailers' desire to monetize their online presence and provide customers with more personalized experiences. Players like Walmart, Target, and Kroger are teeing up more attention in this space as Temu, a Chinese-owned ecommerce app, has gained widespread attention after airing a controversial ad during the 2020 Super Bowl. However, since then, Temu has faced scrutiny from government regulators and consumers over concerns around data privacy and security. The retail competitors are ready to step in.