News & Insights

Precision marketing and treating transactions as a window into customer life moments are key to optimising retail media, OBI Media and Retail Media Managing Director Patricia Grundmann said at World Retail Congress this afternoon.

Grundmann said that too many retailers are failing to capitalise on an opportunity that affords retailers with a major insight into their customers and how they serve them going forwards.

“Retailers are closing a gap in the marketing industry, but most retailers treat retail media as a sales channel. They under-use sales data and operate online and offline as separate silos but today you can bring those together,” she said. “They measure in impressions but you can measure in real income.”

She insisted: “It’s about learning the life moments of the customer, not just if they bought a power drill but whether they are transforming their home or renovating a nursery. So for us we don’t just understand the basket but the life moment. If they don’t have a garden, don’t send garden promotions to them.”

She pointed to a collaboration with PayPal to match customers with the offers based on data. The promotion was delivered across channels and achieved 81% first-time PayPal transactions at the checkout, with customers using a special cashback offer.

“First party data is the unlock, real customer signals only. Orchestration means what can be a very long journey for a back garden,” she pointed out. “Retail media is a trust multiplier. There is no ad fraud, with real people behind it in a shopping environment.”

Going forwards OBI is looking to go deeper in its connections, with Grundmann stressing that retail media is a wider business channel for retailers far beyond advertising and promotions.