Vibenomics

The Sights and Sounds of Retail Media In-Store

In-Store Advertising: The Proof Is In The Data

In today’s competitive retail landscape, capturing consumers’ attention is more challenging than ever. However, new data collected by Vibenomics through Suzy Market Research sheds light on the effectiveness of in-store advertising, particularly in-store audio, in reaching and influencing consumers. This data, gathered in April of 2024, surveyed shoppers of a leading Midwestern supermarket. The sample included men and women, ages 18+, who identified as primary or shared household shoppers. The data revealed the significant impact in-store advertising has on consumer behavior.

In-Store Advertising Captivates Consumers

The data shows that 73% of shoppers noticed the audio played by Vibenomics in-store, while 71% noticed digital displays and screens. This high level of awareness and attentiveness demonstrates the value of in-store advertising for brands and retailers, as it effectively captures consumers’ attention in a busy retail environment.

Further analysis reveals why in-store audio catches shoppers’ attention:

These insights highlight how in-store audio effectively engages consumers and drives them to take action.

In-Store Advertising Influences Action

Moreover, the data indicates that in-store advertising prompts action among shoppers. After hearing the ad, 76% of shoppers located the advertised product in the store, and 73% purchased the advertised product or a similar product. This data highlights the persuasive power of in-store advertising to drive sales and influence purchase decisions.

In-Store Advertising Impacts Omnichannel Activity

Interestingly, the impact of in-store advertising extends beyond the physical store. After hearing the audio ads:

This data demonstrates the importance of a cohesive omnichannel marketing approach, where in-store advertising is crucial in driving onsite and offsite engagement.

In-Store Advertising Is Engaging, Memorable, and Persuasive

Furthermore, shoppers find in-store advertising engaging, memorable, and persuasive. The Vibenomics Creative Studios team can be innovative with the audio creative by incorporating catchy jingles, humorous elements, and unique sound effects to capture the shoppers’ attention. 

These findings underscore the effectiveness of in-store advertising in creating a lasting impression on consumers and influencing their purchasing decisions. By leveraging the power of sensory engagement, retailers can significantly enhance the shopping experience and drive sales.

Conclusion

The data collected by Vibenomics and Suzy Market Research demonstrates the effectiveness of in-store advertising, particularly in-store audio, in engaging consumers and driving sales. With a high level of noticeability, the ability to influence action, impact omnichannel activity, and entertain, inform, and persuade shoppers, in-store advertising emerges as a powerful tool for brands and retailers looking to enhance their marketing efforts. By leveraging the unique advantages of in-store advertising, brands can effectively reach consumers and drive sales.

Getting Started with Vibenomics

Vibenomics, a Mood Media Company, is the leading in-store digital provider with an in-store network that reaches over 170 million monthly unique shoppers and 1 billion monthly shopping visits in the United States. Our platform provides a single, all-in-one retail media network, empowering advertisers to deliver an on-premise experience and connect with consumers via display, audio, and experiential channels.

Ready to elevate your retail media strategy with in-store audio? Click here to engage with Vibenomics today.

Source: Vibenomics In-Store Advertising Suzy Market Research Report, April 2024

In-Store: Where ‘Shoppable Ads’ Have a Different Meaning

The line between online and in-store shopping is becoming increasingly blurred in today’s digital age. As consumers navigate a world saturated with ads, the key to success is creating advertisements that are not just seen but acted upon. This is where the concept of “shoppable ads” comes into play, transforming ordinary ads into powerful drivers of purchase intent.

But first, what are shoppable ads? Shoppable ads are a form of interactive advertising that allows consumers to make purchases directly from the ad itself. These ads typically feature products or services with clickable links or buttons that take users to a website or app where they can complete the purchase immediately upon viewing. Shoppable ads can appear on various platforms, including social media, websites, and mobile apps. 

In digital advertising, platforms like TikTok, Instagram, and other social channels have revolutionized how brands connect with consumers. With their highly engaging content and targeted approach, these platforms offer a unique opportunity to reach audiences. However, they often fall short of converting these interactions into sales, especially compared to in-store shopping experiences.

In-store digital advertising excels in this aspect, mainly through digital displays and audio. Unlike social media ads, which typically engage consumers while they scroll through their feeds, in-store ads connect with shoppers when they are physically near the product. 

Picture a mother strolling down a grocery store aisle and encountering a digital display ad highlighting a familiar backpack brand she’s been eyeing online. The mother didn’t know that the grocery store would even sell backpacks, but now that the ad brought product awareness, she decided to go to the school supplies aisle and check out the size and quality of the backpack. She’s impressed with the backpack and throws two in her cart for her children! 

What’s special about in-store ads is their ability to prompt consumers into engaging with the promoted product, allowing them to inspect the item’s quality, feel its texture, compare prices, and purchase. This immediate physical interaction and the ability to choose exactly what they want and take it home immediately is the driving force behind why 90% of purchases take place in-store (National Retail Federation).

Similarly, in-store audio advertising adds another layer of engagement, creating a seamless shopping experience. As consumers move through the store, they are accompanied by targeted audio ads that guide them directly toward relevant products and promotions. This audio backdrop enhances the shopping ambiance and prompts consumers to take action, whether trying a new product or taking advantage of a limited-time offer. 

Additionally, audio can reach all four corners of the store, ensuring every consumer gets all these engaging messages. Returning to the mom in the previous example, imagine her pushing her cart down the grocery aisles, focused on her shopping list. Suddenly, she hears a cheerful voiceover promoting back-to-school backpacks over the store’s sound system. It reminds her of the upcoming school season and prompts her to check out the seasonal section. Without this audio ad, she might have overlooked the backpacks entirely. But thanks to the in-store audio ad, she remembers her need for school supplies and makes the purchase then and there!

Vibenomics recently ran a study that found 73% of consumers recalled hearing the in-store audio (Vibenomics Audio In-Store Suzy, April 2024). This highlights the effectiveness of in-store audio advertising in capturing consumer attention and creating a lasting impression, unlike online shoppable ads that may be easily forgotten once the user closes the ad.

In conclusion, while online digital ads have their place in the advertising landscape, in-store digital advertising offers a unique advantage. By reaching consumers when they are closest to the product, in-store ads transform the shopping experience into a truly “shoppable” moment. By harnessing the power of in-store digital advertising, brands can create meaningful connections with consumers and drive real-world sales like never before.

Getting Started with Vibenomics

Vibenomics, a Mood Media Company, is the leading in-store digital provider with a combined in-store network with Stingray Advertising. Our in-store network reaches over 170 million monthly unique shoppers and 1 billion monthly shopping visits in the United States.

Ready to enhance your in-store advertising game with in-store audio? Engage with Vibenomics today and make 2024 a year of unparalleled success for your in-store campaigns.

The New Advertising Powerhouse: In-Store Outperforms Linear TV

In today’s fast-paced digital age, advertisers and brands are constantly seeking innovative ways to capture consumers’ attention and drive sales. Traditional linear TV advertising has long been a staple in marketing strategies. However, a recent study by Merkle suggests that in-store advertising may be the new frontier for reaching and engaging with consumers at scale.

The Rise of In-Store Media

The study reveals that in-store media is now a primary focus for 33% of retailers, up from just 9% in 2022. Physical stores are becoming the go-to for national brands due to fast reach, high attentiveness, and younger audiences.

Outperforming Linear TV

According to the study, in-store advertising has shown remarkable effectiveness in driving online and offline sales, outperforming linear TV advertising in several key metrics. In-store advertising is an attractive option for advertisers looking to maximize their return on investment.

Leveraging In-Store Advertising

Final Thoughts

The study by Merkle highlights the significant potential of in-store advertising as a powerful tool for brands looking to connect with “unreachable” audiences who are no longer easily targeted by traditional ad channels. As the retail media landscape evolves, advertisers should consider allocating more of their budget toward in-store digital advertising to capitalize on this growing trend.

Getting Started with Vibenomics

Vibenomics, a Mood Media Company, is the leading in-store digital provider with a combined in-store network with Stingray Advertising. Our in-store network reaches over 170 million monthly unique shoppers and 1 billion monthly shopping visits in the United States.

Ready to enhance your in-store advertising game with in-store audio? Engage with Vibenomics today and make 2024 a year of unparalleled success for your in-store campaigns.

Vibenomics is Redefining Retail Media

Vibenomics, a pioneer in in-store audio advertising, has teamed up with Microsoft Advertising to transform the retail media landscape. This innovative partnership harnesses Vibenomics‘ expansive network of over 170 million unique monthly shoppers, delivering an efficient, scalable, and easily implementable solution that seamlessly links digital campaigns to physical shopping experiences.

This extensive reach establishes an ideal partnership for collaborating and integrating in-store channels. Vibenomics supplies the hardware, while Microsoft Retail Media handles measurement, offering unified reporting and attribution across channels. This pilot aimed to develop an omnichannel retail media solution that merged onsite and in-store channels.

Unified Solution

Vibenomics collaboration with Microsoft Advertising is a game-changer for several reasons. Firstly, it offers a unified solution for the programmatic deployment of digital and in-store media, complete with robust measurement and attribution capabilities. This approach measures the influence of joint exposure across channels and ensures that brands can effectively track the impact of their campaigns.

Post-Covid Shift

Secondly, in a post-Covid world where brands are reallocating their marketing investments to focus more on in-store sales, programmatic in-store media offers a swift and effective way to reach customers within critical retailers. This shift in strategy highlights the importance of integrating digital and physical marketing efforts to drive sales and enhance the overall customer experience.

No More Disconnect

Another key benefit of this partnership is eliminating the disconnect between brand marketing and in-store consumer behavior. Programmatic in-store media enables brands to launch and adjust campaigns quickly, aligning with the faster timelines of digital media. This agility ensures that brands stay ahead of the competition and capitalize on emerging trends in real-time.

Omnichannel Excellence

Lastly, this partnership sets a new standard for retail media by offering integrated onsite, offsite, and in-store capabilities. This omnichannel approach allows brands to engage with customers at every touchpoint, delivering a seamless and cohesive brand experience across all channels. 

The success of this approach is exemplified in our work with a leading CPG brand, where we achieved remarkable results. By combining onsite, offsite, and in-store strategies, we helped the brand achieve a:

These outcomes underscore the significance of integrating in-store audio with e-commerce as a retail media strategy. The end result is a compelling case for brands looking to enhance their market effectiveness and deliver impactful experiences to their customers.

Final Thoughts

The collaboration between Vibenomics and Microsoft Advertising marks a significant milestone in the evolution of retail media. By leveraging the power of in-store audio advertising and digital marketing tactics, brands can now create more impactful campaigns that drive sales and enhance the overall customer experience.

“We’re excited about collaborating with Microsoft Advertising to bring omnichannel retail media capabilities in-store. Our expertise in infusing in-store audio and display experiences within the broader shopping journey complements Microsoft’s strength in measuring true campaign impact across online and offline touchpoints. This integration demonstrates the vast potential of unifying digital and physical channels to immerse audiences while providing advertisers transparency into what messages inspire action.”

Paul Brenner, SVP of Retail Media and Partnerships at Vibenomics, a Mood Media Company

Getting Started with Vibenomics

Vibenomics, a Mood Media Company, is the leading in-store digital provider with a combined in-store network with Stingray Advertising that reaches over 170 million monthly unique shoppers and 1 billion monthly shopping visits in the United States. Our platform provides a single, all-in-one retail media network, empowering advertisers to deliver an on-premise experience and to connect with consumers via display, audio, and experiential channels. 

Ready to enhance your in-store advertising game with in-store audio? Engage with Vibenomics today and make 2024 a year of unparalleled success for your in-store campaigns.

The Harmonious Blend: How In-Store Audio Advertising Complements In-Store Digital Displays

Advertisers constantly seek innovative ways to capture consumers’ attention in the ever-evolving retail landscape. While visual displays have long been a staple in creating engaging in-store experiences, the synergy with in-store audio advertising has emerged as a powerful combination that elevates the overall impact on consumers’ purchase decisions. 

Imagine entering a store where vibrant digital displays catch your eye, showcasing the latest products and promotions. Now, add another layer to this sensory experience – the subtle yet influential power of in-store audio advertising. Let’s explore how these two elements work in harmony to create a dynamic and immersive environment for shoppers. 

Multi-Sensory Engagement

Visual displays are undeniably effective in conveying information, but audio integration takes engagement to a new level. In-store audio advertising provides a multi-sensory experience, allowing businesses to communicate their brand message through visuals and carefully crafted soundscapes. The combination of sight and sound captivates consumers, making their shopping experience more memorable and enjoyable. 

Reinforcing Brand Identity

While digital displays communicate a brand’s identity visually, in-store audio advertising adds an auditory dimension that reinforces brand recognition. A well-designed audio ad with a distinct voice and brand creative can leave a lasting impression on consumers, helping to establish and strengthen brand identity. Consistency across visual and auditory elements enhances brand recall, fostering a deeper connection with the audience. Vibenomics found that 40% of consumers indicated that in-store audio catches their attention because it’s highlighting a brand they know and trust (Vibenomics Suzy Research Audio In-Store Report, June 2023). 

Information Enhancement

Digital displays excel at presenting product information, but in-store audio advertising serves as a reinforcement mechanism. Imagine a digital display highlighting a new product while a corresponding audio ad provides additional details and directs shoppers to where the product is located in the store. This combination ensures that consumers receive comprehensive information, increases the likelihood of message retention, and in turn, has a great impact on purchase decisions.

Creating Atmosphere & Ambiance

In-store environments are not just about products but about creating an ambiance that resonates with the brand. In-store audio advertising contributes to this by setting the tone, whether it’s through curated music, narrations, or promotional messages. The fitting audio complement to visual displays can create a cohesive atmosphere that aligns with the brand’s personality and enhances the overall consumer experience. 

Call to Action Amplification

Digital displays often incorporate calls to action, encouraging consumers to explore products or take advantage of promotions. In-store audio advertising amplifies these calls to action by adding a persuasive and dynamic element. Whether it’s prompting consumers to try a new product or announcing limited-time offers, combining visual and auditory cues increases the likelihood of customer response. Vibenomics discovered that 41% of consumers indicated that in-store audio catches their attention by introducing them to a new brand/product (Vibenomics Suzy Research Audio In-Store Report, June 2023). 

Final Thoughts

The marriage of in-store audio advertising with in-store digital displays represents a dynamic duo in retail media. By leveraging the strengths of both mediums, businesses can create immersive, memorable experiences that resonate with consumers long after they leave the store. As the retail media landscape continues to evolve, the harmonious blend of audio and visual elements is poised to play a pivotal role in shaping the future of in-store advertising.

Getting Started with Vibenomics 

Vibenomics, a Mood Media Company, is the leading in-store digital provider with a combined in-store network with Stingray Advertising that reaches over 170 million monthly unique shoppers and 1 billion monthly shopping visits in the United States. Our platform provides a single, all-in-one retail media network, empowering advertisers to deliver an on-premise experience and to connect with consumers via display, audio, and experiential channels. 

Ready to elevate your retail media strategy with in-store audio? Click here to engage with Vibenomics today! 

Unwrap Holiday Shopping Trends

The holiday season is upon us, and with it comes the festive flurry of gift-giving, feasting, and merry-making. Understanding the nuances of holiday shopping behaviors is crucial for retailers aiming to make the most out of this season. 

Vibenomics, in collaboration with Suzy Market Research, has gathered valuable insights into the minds of consumers during this festive period. Let’s explore critical findings from the data and dive into how in-store audio advertising can play a pivotal role in enhancing the holiday shopping experience.

The In-Store Shopping Trend

78% of consumers plan to do their holiday shopping in-store (Vibenomics Suzy Market Research, Oct. 2023). This data point indicates a strong inclination towards the traditional brick-and-mortar shopping experience, emphasizing the importance of optimizing in-store strategies to capture the attention of holiday shoppers. 

Store Preferences

Breaking down the in-store shopping trend further, 36% of consumers plan to do most of their holiday shopping at grocery stores, 31% at dollar and discount stores, and 22% at home improvement stores (Vibenomics Suzy Market Research, Oct. 2023). Understanding these preferences allows retailers to tailor their shopping experiences and brands to adjust their marketing efforts to specific audiences and merchandise accordingly.

Holiday Deal Seekers

Holiday deals are a significant draw for shoppers, with 61% expressing their intent to take advantage of retailer/brand-specific holiday sales (Vibenomics Suzy Market Research, Oct. 2023). This statistic presents an opportunity for retailers to strategically promote their holiday offers and capture the attention of bargain-seeking consumers.

Product Preferences

77% of consumers plan to purchase groceries during the holidays, followed closely by 68% for holiday-themed food/snacks and 54% for adult beverages (Vibenomics Suzy Market Research, Oct. 2023). Retailers can leverage this information to curate unique holiday-themed displays and strategically position products to meet consumer demands.

Factors Influencing Purchases

Regarding decision-making, consumers prioritize price, quality, and promotions/sales. This data emphasizes the importance of offering competitive prices, maintaining high product quality, and effectively communicating promotional offers to sway consumer choices.

The Role of In-Store Audio Advertising

In this landscape of holiday shopping preferences, in-store audio advertising emerges as a powerful tool for retailers. Vibenomics data supports the idea that audio advertising can significantly impact product discovery, brand sales, and overall shopping experience. Here’s how:

Conclusion

As retailers gear up for the holiday rush, understanding the intricacies of shopper behavior is crucial. Vibenomics Suzy Market Research on Holiday Shopping Behaviors provides valuable insights that can guide brands and retailers in tailoring their strategies to meet consumer expectations. By incorporating in-store audio advertising, retailers can elevate the holiday shopping experience, driving sales and creating lasting connections with consumers in this joyous season!

Getting Started with Vibenomics 

Vibenomics, a Mood Media Company, is the leading in-store digital advertising provider with 23,600+ shopping locations in the U.S. Our platform provides a single, all-in-one Retail Media network, empowering advertisers to deliver an on-premise experience and to connect with customers via display, audio and experiential channels. 

Ready to learn how Vibenomics can elevate your Retail Media strategy with in-store audio? Click here to engage with Vibenomics today!

About Suzy Enterprise Market Research 

Suzy Market Research is a comprehensive consumer insights platform seamlessly incorporating AI-driven quantitative and qualitative research and top-tier audiences within a unified research cloud. With the endorsement and trust of more than 500 prominent brands spanning 22 industries, the Suzy platform has solidified its reputation.

Mastering The Omnichannel Approach with Retail Media

Retail Media has evolved beyond traditional advertising in today’s fast-paced digital landscape. Brands and retailers constantly seek innovative ways to engage consumers across various channels. One strategy that’s gaining immense traction is the omnichannel approach. This approach enhances consumer experiences and drives sales and brand loyalty.

The Rise of Omnichannel Retail

Omnichannel retail is more than just a buzzword; it’s a comprehensive strategy that seamlessly integrates all marketing channels throughout the shopping journey. Brands strive to provide a consistent and unified shopping experience with brick-and-mortar stores, e-commerce websites, mobile apps, and social media platforms. 

The Customer-Centric Advantage

A successful omnichannel strategy requires a deep understanding of the modern customer. Today’s consumers are tech-savvy and demand convenience, personalization, and immediate access to information. According to DevPro Journals’ Consumer Product Content Benchmark Report (2022), 81% of consumers expect uniformity in a brand’s product content experience across all touchpoints. Retailers that can meet these expectations are better poised for success.

Critical Elements of a Successful Omnichannel Strategy 

Benefits of a Successful Omnichannel Strategy 

Conclusion

The omnichannel approach is no longer a choice but a necessity for businesses looking to thrive in the digital age. By harnessing customer data, providing seamless shopping experiences, personalizing content, and leveraging real-time analytics, retailers can meet the evolving demands of modern consumers and gain a competitive edge in the retail landscape. It’s time to embrace the omnichannel revolution and unlock the full potential of Retail Media!

Getting Started with Vibenomics 

Vibenomics, a Mood Media Company, is the leading in-store digital advertising provider with 23,600+ shopping locations in the U.S. Our platform provides a single, all-in-one Retail Media network, empowering advertisers to deliver an on-premise experience and to connect with customers via display, audio and experiential channels. 

Ready to unlock the full potential of your omnichannel strategy with Vibenomics’ innovative in-store solutions? Click here to engage with Vibenomics today! 

IAB: Opening the doors for in-store digital advertising and display

The Interactive Advertising Bureau (IAB) has included in-store digital advertising, along with onsite and offsite solutions in its 2023 Retail Media Buyer’s Guide. With U.S. retail media spend projected to increase from $31B in 2021 to $61B in 2024, accounting for over 17% of total U.S. digital ad spending, this growth highlights the vital role of in-store advertising in driving retail media and enhancing consumer engagement.

As in-store shopping continues to attract a larger audience compared to online platforms, the significance of digital retail media ad spending becomes even more apparent. Digital retail media ad spending is estimated to reach $40.81 billion in 2022 — more than triple its pre-pandemic levels — and expected to reach $61.15 billion in 2024. According to Forrester’s 2022 Retail Media Ad Sales Report, experts predict ad revenue growth across retail media networks in the U.S. market will double over the next four years.

By incorporating in-store offerings into their overall Retail Media strategy, retailers enhance the customer experience and enable effective mid-lower funnel advertising, empowering brands to target consumers at a critical point in the buying journey. This approach allows brands to deliver personalized messages that resonate with shoppers, increasing engagement and the likelihood of conversion.

Some effective mid-lower funnel strategies involve retargeting users who have previously interacted with a brand and utilizing dynamic product ads to showcase relevant products or services. These strategies aim to re-engage and remind users of their interest, increasing the chances of conversion and driving sales.

The In-Store digital advertising solutions, as described in the Buyer’s Guide, include multi-touch models and omnichannel strategies, enabling retailers to optimize and assess the effectiveness of in-store digital messaging. This definition reflects the evolving retail landscape in our dynamic “phygital” world, where physical shopping experiences meet innovative technologies to deliver an elevated and interactive consumer journey. 

Mood Media’s acquisition of Vibenomics creates a single point of integration for retail media platforms to access, deliver, measure and evaluate on-premise digital impressions via multi-touch models and omnichannel strategies such as the following:

Brands can tap into the value of retailers’ first-party data to utilize the digital technologies of retail media networks (RMNs) and leverage their in-depth understanding of customer preferences and behavior. The result leads to brands effectively targeting the right customers with their ads and campaigns, maximizing the impact and relevance of their marketing efforts. These innovative in-store strategies can help retailers create a dynamic, immersive environment, captivating shoppers, encouraging interaction and driving sales and customer loyalty.

As the IAB and its members have incorporated in-store digital advertising into the retail media buying landscape, there is a growing demand for modernization from brands seeking simplified and innovative approaches aligned with modern measurement standards.

Embracing the “phygital” shift in our changing ad landscape

The IAB has recognized the importance of in-store digital advertising for retailers and brands who want to engage consumers more effectively at the point of sale. Unlike the traditional, segmented approach, omnichannel strategies integrate onsite, offsite and in-store channels seamlessly, providing customers with a streamlined and cohesive shopping experience. 

This shift towards omnichannel strategies has benefitted retailers, with omnichannel consumers making purchases 70% more frequently. Phygital environments are an advanced iteration of omnichannel retail, combining in-store experiences and the technology of online environments. Brands and retailers must embrace digital solutions and personalized experiences to thrive in the evolving retail landscape. There are various options available for advertisers to capitalize on this trend. For instance, Kroger and Hy-vee have ventured into digital audio in-store to improve the customer experience and increase sales. 

Achieving retail objectives with a dedicated retail media team

Brick-and-mortar retailers should leverage retail media teams to carry out advertising strategies, monetize their physical spaces and enhance their revenue streams. Retail media teams can:

Vibenomics and Mood Media dominate retail media in-store advertising solutions

Vibenomics is a single integration point for retail media platforms to access, deliver and measure in-store digital impressions. With Mood Media’s advanced on-premise digital solutions, Vibenomics offers a turnkey solution – simplifying ad-buying and enhancing retailers’ owners’ management of customer experiences. This strategy equips brands and retailers to maximize and measure the impact of in-store digital messaging via multi-touch models and omnichannel approaches.

Over six years, Vibenomics has helped U.S. retailers increase purchase likelihood by up to 77% using audio in-store advertising. Understanding the needs of brands and retailers, Vibenomics has worked to create a simple solution for managing their owned and operated assets while integrating smoothly with other media in their stores.

Retailers can’t deny the importance of in-store digital advertising. Vibenomics, now within IAB’s 2023 Retail Media Buyer’s Guide, is undeniably positioned to provide retailers with in-store solutions that complement and strengthen the effectiveness of Onsite and Offsite strategies.

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About the Author

Paul Brenner

Vibenomics // Senior Vice President, Retail Media and Partnerships 

With more than 25 years of experience in media & entertainment and advertising technology leadership, Paul Brenner served in several c-suite roles including division President with Emmis Operating Company [NASDAQ:EMMS]. As President of NextRadio/TagStation his work focused on global innovation through FM Chip activations in all smartphones for audience measurement, improved in-car user experiences, and data attribution platforms for all broadcast radio. In 2019, Paul joined Vibenomics as Chief Strategy Officer to help develop the go-to-market strategy for the company’s first-to-market Audio In-Store advertising solution. Following a successful launch, Brenner was promoted to President of Audio OOH to oversee all efforts surrounding revenue-generating activity and related partnerships. After the company’s recent integration with Mood Media, Paul was promoted to SVP of Retail Media and Partnerships, where he works to evangelize and innovate the In-Store segment of Retail Media.

3 Key Insights from P2PI’s Retail Media Summit

Even amidst the haze of wildfire smoke, our time in Chicago at the Path to Purchase Institute’s (P2PI’s) Retail Media Summit was nothing short of extraordinary! P2PI’s Retail Media Summit is an annual event with the goal of breaking away from traditional patterns of thinking and encouraging attendees to tap into new strategies that fully leverage the power of Retail Media. By embracing innovative approaches and adopting effective Retail Media strategies, participants can enhance their omni-channel initiatives and drive better results for their brands.  

There was a wide array of industry topics covered at this year’s P2PI’s Retail Media Summit designed to help CPG brands and retailers navigate the complicated and rapidly shifting arena of Retail Media. 

A few agenda items to highlight from this year’s Retail Media Summit include:

  1. Keynote: Andrea Leigh (Allume Group) emphasized the importance of meeting the shopper where they’re at and explained how in-store has a higher US monthly audience reach than digital.
  2. Session: Cara Pratt (Kroger Precision Marketing) highlighted the transformative impact of Retail Media on the industry and stressed the significance of adopting a unified marketing approach. 
  3. Campfire: Brian Gildenberg (CPG Guys Podcast) and Andrew Lipsman (Insider Intelligence) stressed the significance of Retail Media in building up the product and ensuring it’s not interfered with.
  4. Panel: Arthur Sylvestre (Danone) and Sheri Pasuco (Newell Brands) shared insights on how to effectively organize, budget, and measure success during the next wave of Retail Media growth.

3 Key Insights 

If you missed out on this year’s Retail Media Summit or just need a refresher, fret not! Here are Vibenomics’ 3 key insights from the 2023 Retail Media Summit –

  1. Retail Media is Changing Advertising 
  2. Meet the Shopper Where They’re At
  3. ROAS Isn’t the Only Metric for Success

1. Retail Media is Changing Advertising 

Retail Media is changing advertising’s impact and effectiveness. Keynote speaker Andrea Leigh, founder of Allume Group, stated, “Advertising is the force that opens up people’s minds to new possibilities.” Leigh’s statement highlights the influential role that advertising plays in shaping consumer behavior and perceptions. In the context of Retail Media, which refers to advertising strategies and technologies employed by retailers to monetize their digital platforms and reach their customers, there’s been notable shifts in the impact and effectiveness of advertising strategies and solutions.  

One of the key advantages of Retail Media is its ability to reach and influence consumers at every stage along the shopping journey. Through targeted advertising on their digital platforms, retailers can engage with customers during the awareness stage, introducing them to new products and brands. By tailoring advertisements based on consumer preferences and browsing behavior, retailers can deliver meaningful messages that resonate with the audience, capturing their attention and encouraging them to explore new products.

Retail Media has revolutionized the way consumers interact with advertising. By leveraging their digital platforms and first-party loyalty data, retailers enable brands to deliver personalized and targeted omni-channel campaigns that open up new possibilities for consumers. This shift has not only made advertising more effective but has also allowed retailers to measure and optimize their campaigns more accurately. As a result, advertising has become a powerful force in influencing consumer perceptions and driving consumer behavior in the modern retail landscape.

2. Meet the Shopper Where They’re At 

Meeting shoppers in the physical store is a critical element of implementing a successful Retail Media strategy. Despite the growth of e-commerce and online shopping, 91% of sales happen in-store. In-store is also the closest proximity to the product. Therefore, it’s important for retailers to focus on enhancing the in-store experience and leverage Retail Media to engage and influence shoppers.

Brands increase their reach by 70% when they focus on in-store. Andrea Leigh (Alume Group) shared a bar chart that compared in-store US monthly audience reach to digital US monthly audience reach. The data showed an increased audience reach in-store compared to digital for well-known retailers like Lowes, Walgreens, Kroger, and Costco. This information underscores the importance of investing in strategies that optimize the in-store experience and effectively utilize Retail Media to engage and influence shoppers. 

There’s no denying that technology advancements are making it easier and more efficient to put the right content in front of the right customer when propensity to spend is highest. While sometimes digital displays can limit the impact of shopper behavior due to restricted exposure and engagement, in-store audio’s ubiquitous nature has the ability to influence shoppers at the point of purchase because:

Think of the shopping journey as a funnel. Brands want to increase awareness through audio in-store, drive intent by getting the shopper to the right aisle, and enable conversion by getting the shopper to care enough to make a purchase. 

3. ROAS Isn’t the Only Metric for Success

ROAS (Return on Ad Spend) is a crucial metric for measuring the effectiveness of advertising campaigns in terms of generating revenue. However, when it comes to Retail Media, there are additional metrics and considerations beyond ROAS that are important to understand and leverage in determining whether or not a campaign is deemed successful. One such aspect is the focus on consumer relationships. Advertisers can gain a comprehensive understanding of the impact of their advertising efforts through the following metrics:

Consistent measurement remains a crucial aspect in assessing campaign success. Standardizing reporting and data transparency is a top priority, although it requires significant effort from both brands and retailers to establish this consistency and measure impact accurately.

While ROAS remains an essential metric for measuring the financial performance of your advertising efforts, it’s crucial to recognize the broader benefits of Retail Media beyond immediate sales lift. By focusing on consumer relationships, you can cultivate loyalty, advocacy, and long-term value, ultimately contributing to the growth and success of your business.

Wrap Up

P2PI’s Retail Media Summit proved to be a beneficial event, offering a deep understanding of the ever-changing landscape of Retail Media. The knowledge gained from this event will undoubtedly benefit CPGs, retailers, and solution providers in their pursuit of enhancing omni-channel initiatives and achieving superior outcomes for their brands and businesses.

By embracing the insights shared at the summit, organizations can navigate the evolving world of advertising, recognize the significance of engaging with shoppers in-store, and prioritize consumer relationships in their measurement strategies. Armed with this knowledge, they will be well-equipped to adapt to the dynamic nature of Retail Media, connect with their target audience effectively, and achieve sustainable growth in the competitive retail industry.

Onto the next one! Don’t miss out on P2PI LIVE 2023 in St. Louis this upcoming November. P2PI LIVE is a premier event that aims to provide a comprehensive and enriching experience for professionals in the commerce marketing industry. Join Vibenomics as we continue to revolutionize the next generation of Retail Media in-store!

About Path to Purchase Institute 

Path to Purchase Institute (P2PI) is a global association that provides insights, knowledge, and networking opportunities to consumer goods professionals involved in the path to purchase. They focus on helping businesses understand and optimize the consumer journey from the initial consideration of a product to the final purchase decision. 

P2PI offers a variety of resources, including research reports, case studies, webinars, and events, to help their members stay up-to-date on industry trends and best practices. They also provide a platform for networking and collaboration among professionals in the consumer packaged goods (CPG) industry.

Getting Started with Vibenomics

Vibenomics, a Mood Media Company, is the leading in-store digital advertising provider. Our platform provides a single, all-in-one Retail Media network, empowering retailers to digitize their on-premise experience and advertisers to connect with customers via display, audio and experiential channels. 

Through a first-of-its-kind turnkey solution, this model delivers the ubiquity and revenue-generating capabilities needed to drive the next iteration of Retail Media. Ready to learn how Vibenomics can elevate your Retail Media strategy? Click here to engage with Vibenomics today!

Top 5 Takeaways from P2PI’s Future Forward 2023 Event

How is it June already? It feels like it was just yesterday that we grabbed our beaded necklaces and eagerly headed down to New Orleans in May to attend Path to Purchase Institute’s (P2PI’s) Future Forward 2023 event. 

P2PI’s Future Forward event is an annual conference that brings together industry leaders and professionals to discuss the latest trends, innovations, and strategies in the consumer packaged goods (CPG) industry. The event attracts a diverse group of attendees from a variety of backgrounds, including:

At this year’s Future Forward event, attendees had the opportunity to participate in educational sessions, networking events, and keynote speeches delivered by industry experts in the CPG field. 

There was a wide array of topics covered at Future Forward 2023 which included shopper behavior and trend forecasting, the future of commerce via in-store experience, social commerce, metaverse and beyond!

A few agenda items to highlight from Future Forward 2023 include:

  1. Keynote: Ari Peralta (Arigami) presented the evolution of sensory design and how it can amplify consumer experiences.
  2. Session: Patrycja Malinowka (P2PI) discussed the current shopping mindsets and insights into shopping patterns, new areas of opportunity and the trends & topics on consumers’ minds that influence future behaviors. 
  3. Campfire: Reshma Schneider (Conagra) and Jen Senerius (The Mars Agency) talked through how they partnered to adapt their marketing strategies to meet change in shopper behavior.
  4. Panel: Jessie Dowd (P2PI) and Manish Sharma (Kellogg’s) uncovered how to navigate the RMN ecosystem and account for greater investment in retail media.

Our Top 5 Takeaways

If you weren’t able to attend this year’s Future Forward event, or just can’t read your handwriting from your notes (we’ve all been there!), we’ve got you covered. 

These are the top 5 takeaways from Future Forward 2023 that stood out to us: 

1. In-Store is Emerging

The event highlighted the growing importance of digital in-store experiences, emphasizing that these innovative strategies are becoming a permanent part of the retail landscape. 

Ari Peralta, neuroscientist and CEO of Arigami, presented 5 ways for brands and retailers to turn to neuroscience and technology to give them a competitive edge with design:

The trends above emphasize the convergence of in-store technology to enhance consumer experiences, creating immersive, interactive, and emotionally resonant brand interactions. 

In P2PI’s blog post, “Future Forward: Amplifying Consumer Experiences,” Peralta highlights that incorporating multisensory cues in a store can increase shopper’s stay by up to 51%, while also noting that 52% of consumers have abandoned e-commerce sites due to poorly curated offerings. 

One of many notable findings in the P2PI’s “Shopper Engagement with Retail Media” research report identified that 48% of shoppers say in-store audio encourages them to locate products in-store and consider purchasing — the same amount as with video ads and digital screens. To capture and maintain shoppers’ attention in the crowded retail landscape, brands MUST invest in efforts designed to maximize customer interaction.

2. Shopping Should Be Simple

With the evolving in-store environment, it is vital that navigating the shopping experience remain simple. With consumers desiring a simplified and straightforward shopping experience, retailers must focus on creating a smooth transition between onsite, offsite and in-store channels. Brands, too, must ensure that messaging is consistent and relevant to each individual shoppers’ journey. 

Paul Brenner, SVP of Retail Media Strategy and Partnerships at Vibenomics, says that for the past several years, the retail landscape has evolved to become all about the customer experience. Technology helped elevate digital ecommerce – an evolution no doubt accelerated by the global health crisis. But nearly 95% of shoppers have returned to physical stores with an expectation that their in-store experiences will deliver as well as online shopping. 

3. Brand Budgets are Shifting

Brands want to shift their budgets to be more inclusive of Retail Media In-Store digital advertising strategies within their omnichannel campaigns – alongside traditional onsite and offsite tactics. 

A significant majority of buying (92%) still occurs in-store, while only a small portion (8%) happens online. Brands can truly influence shoppers at the point of purchase with in-store tactics by creating compelling and interactive experiences that engage all the senses and leverage personalized promotions to drive conversion and brand loyalty.

4. Omnichannel is Effective

Brands are adopting an omnichannel approach with single, unified campaign objectives. The focus is on seamless omnichannel buying experiences, integrating various channels rather than treating them separately.

The question we hear at Vibenomics is, “how do brands catch shoppers’ attention with ads and deliver a personalized experience similar to what’s available via online platforms?” Enter RMNs, providing omnichannel solutions to these challenges. Retailers can broadcast targeted audio advertisements in brick-and-mortar stores to promote products near the point of sale and in the aisles. 

5. Data Silos are Preventing Investment

Data silos between onsite, offsite, and in-store channels were identified as a challenge in proving incrementality and, therefore, preventing effective omnichannel investment. 

The pressure is on retailers to demonstrate the value and incrementality of Retail Media solutions by proving the effectiveness of omnichannel (onsite, offsite, and in-store) campaign strategies. The importance of breaking down these data silos to gain a comprehensive understanding of the customer journey was emphasized.

Wrap Up

After an immersive and thought-provoking experience at Future Forward 2023, several key takeaways emerged that shed light on the evolution of the in-store experience, the importance of a simplified shopping journey, and the significance of brands transitioning to a true omnichannel approach with unified campaign objectives. 

By understanding and implementing these top takeaways, retailers and brands can stay ahead of the curve, create meaningful connections with their customers, and establish a strong foundation for sustained growth in the years to come. 

As one event ends, another one approaches! Don’t miss out on P2PI’s 2023 Retail Media Summit in Chicago this upcoming June. Attendees will gain invaluable insights into the latest trends, strategies, and technologies that are shaping the future of retail media. Mark your calendars and be sure to join Vibenomics at the 2023 Retail Media Summit as we explore the future of retail media together!

About Path to Purchase Institute 

Path to Purchase Institute (P2PI) is a global association that provides insights, knowledge, and networking opportunities to consumer goods professionals involved in the path to purchase. They focus on helping businesses understand and optimize the consumer journey from the initial consideration of a product to the final purchase decision. 

P2PI offers a variety of resources, including research reports, case studies, webinars, and events, to help their members stay up-to-date on industry trends and best practices. They also provide a platform for networking and collaboration among professionals in the consumer packaged goods (CPG) industry.

Getting Started with Vibenomics

Vibenomics, a Mood Media Company, is the leading in-store digital advertising provider. Our platform provides a single, all-in-one retail media network, empowering retailers to digitize their on-premise experience and advertisers to connect with customers via display, audio and experiential channels. 

Through a first-of-its-kind turnkey solution, this model delivers the ubiquity and revenue-generating capabilities needed to drive the next iteration of retail media. Ready to learn how Vibenomics can elevate your Retail Media strategy? Click here to engage with Vibenomics today!

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