Offsite retail media offers an extension to onsite retailer offerings. It taps into how consumers increasingly look to non-retail sites and platforms for deals, inspiration and validation. However, it can be challenging.
Based on original research, the RetailX Data Workbench Offsite Retail Media Report gives retailers and brands the insights they need to make the most of the opportunities in this increasingly important area. Along with interviews and case studies that demonstrate how leading companies are performing in this area, the report offers a tactical roadmap on how to leverage offsite by mapping its short, medium and long-term evolution.
Key takeaways:
- While social media and video platforms are the dominant force in offsite, with video likely to be the biggest grower, don’t underestimate CTV as a must-have.
- Measurement and attribution are the key challenge for the buy-side and, when combined with trying to measure closed loop-attribution across all retail media campaigns, those challenges are multiplied – but they can be surmounted.
- Retailers currently play a major role in controlling offsite retail media and, with managed-serve typically the main offering – but self-serve is rapidly coming into its own thanks to brand demand.
- The DSP marketplace is not as strong as might be expected, as they can lack data, closed loop reporting and attribution. However, DSPs are likely to become key as the offsite market expands as brands leverage their reach, and as retailers actively pursue partnerships with them.
- Curated programmatic deals are also niche, but growing. As retailers and DSPs deepen partnerships, these curated deals may become more attractive.
Key statistics:
- 75% of offsite buy-side goes to social media and
- 73% to video advertising.
- 66% of those surveyed within the industry expect to see video spend grow most strongly over the next 12 months.
- 39% see attribution as the biggest challenge.
- 69% rank retailers as gatekeepers of offsite.
- 89% see curated deals as valuable.
- 40% are very interested in buying through DSPs.
- 94% want to unify retail media buying.
