While Ulta has operated a marketing practice for years, this is technically its first retail media network. UB Media, which relies on the brand’s Ultamate Rewards loyalty scheme, takes a similar approach. Now, they have so much traffic to their properties that they own and operate, they can drive media revenue off of that.” “They have done that as one-offs or within email, so it's been more like a newsletter rather than a real media network. “Marriott has historically sold advertising targeted around the hotel you're staying at,” said Harrison. Marriott’s announcement was noteworthy in billing the platform, which draws on the Bonvoy loyalty program comprised of 164 million members, specifically as a “media network” versus a traditional marketing arrangement. You'll continue to see it.” Fresh coat of paint “The shift to commerce is driving all of these retail media networks or media networks populating. “They're riding the wave of everything becoming more digitally-driven,” said Harrison. That’s been a rocky journey but provides clear benefits now that all eyes are on first-party data. A major factor supporting growth has been the pandemic, which pressured companies to accelerate investments in digital transformation and make the jump to e-commerce and mobile channels. alone will double to $40 billion in 2022, according to research from the consultancy. Retail media is the fastest-growing segment of media behind only connected TV, according to Michael Harrison, managing partner at Winterberry Group. Sephora, a rival, was hiring for a position that would help build a similar-sounding platform earlier this year. Ulta, the beauty brand, unveiled a UB Media network in May, speaking to how category-specific companies are coming around to the idea. Companies ranging from big-box stores like Walmart and Target to niche and local players are rushing to stand up offerings that combine aspects of ad sales, technology and commerce. Retail has set the trend when it comes to media networks, and the pace is staggering.
“Any sector that has access to addressable first-party data that you can actually then target - and you have the consent of the customer - or any sector that has a large media estate can build a retail media network,” Jeancolas added. Dunnhumby works with Walmart, one of the leading retail media players, on a customer data-sharing platform called Luminate. “In the wake of third-party cookies disappearing, companies that have a lot of first-party transaction or sales data and customer data really understand that's a true source of competitive advantage,” said Julie Jeancolas, global head of media and customer engagement solutions at Dunnhumby.
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