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3 Ways Retail Media Can Take Marketplace Profitability to the Next Level
E-commerce is evolving towards marketplace models, offering both own and third-party products to expand offerings without additional costs, and improving search rankings. Gartner predicts a 10% revenue boost for marketplaces with over a year's operation. Retail media, especially, is becoming essential for additional revenue, with expectations of the global retail media market reaching $160 billion by 2027. Retail media allows marketplaces to monetize digital inventory and target ads using first- and third-party data, becoming crucial as third-party cookies phase out. It creates new revenue streams, boosts marketplace seller ecosystems, and enhances customer loyalty through personalized offers, indicating every marketplace will soon need its retail media offering to stay competitive.