Andrew Lipsman is the Principal Analyst at Insider Intelligence, the leading research, data, and insights provider helping companies maximize revenue, optimize ad spend, and anticipate digital disruption. In his role, he reports on retail and eCommerce, following trends, including holiday shopping, retail media, social commerce, DTC brands, and leading marketplaces like Amazon and Walmart. Andrew has spoken at multiple conventions, including Big Show, Shoptalk, and Groceryshop. He is quoted frequently by publications, such as The New York Times, The Wall Street Journal, and Financial Times.
In this episode…
Retail media has monopolized the digital advertising landscape, and major retailers are developing ad networks to compete with Amazon. Walmart is the second largest media system with a $6 ROAS, and Target and Instacart aren’t far behind. Given the recent growth and competition, omnichannel strategies are essential to profit in this evolving space. So how should you structure your advertising efforts to prepare for impending retail media developments?
Digital analyst Andrew Lipsman has observed three key drivers of retail media. With prominent retailers like Walmart and Target optimizing the customer experience, brands must ascend the advertising funnel by leveraging onsite media to deliver ads across social platforms and TV streaming. Traditionally, brands have analyzed ROAS for online sales. Now, you can capitalize on in-store retail media and attribution data to drive offline sales. But Andrew warns against over-personalizing in-store advertising to risk losing customer trust. Instead, develop brand awareness by incorporating on-screen QR codes that tap into loyalty programs and encourage purchases across multiple channels.
In today’s episode of The Digital Deep Dive, Aaron Conant chats with Andrew Lipsman, Principal Analyst at Insider Intelligence, about the current and future state of retail media. Andrew also talks about AI’s role in data analytics, the challenges retailers face when developing ad networks, and the ideal metrics for optimizing ad spend.
