Sep 21, 2023

TECHNOLOGY PROVIDERS VITAL TO COMMERCE MEDIA SUCCESS - PUBMATIC STUDY 21/09/2023 11:08 AM KUALA LUMPUR, Sept 21 (Bernama) -- PubMatic, an independent technology company, has released a new study that retailers see tremendous upside for commerce media revenue but increasingly consider partnerships and technology support as critical factors in meeting objectives. Commissioned by Forrester Consulting finding, the study surveyed 309 commerce media strategy decision-makers at the United States- and the United Kingdom- based retail and travel organisations, according to Pubmatic in a statement. In the study, respondents said nearly two per cent of their overall revenue comes from commerce media with hopes this will more than double to reach 4.37 per cent in the future. Additionally, more than 50 per cent of retailers said they are planning to change their technology vendor to further enhance their capabilities with data privacy on top-of-mind for decision-makers as they consider technology partners, alongside deploying tech solutions that are unified, flexible, customisable and scalable. “Retailers starting to participate in commerce media have seen success, but they are still experimenting and evaluating whether their current technology partnerships enable them to make the most of their valuable media properties and consumer relationships,” said PubMatic Vice President of Addressability and Commerce Media, Peter Barry. The study suggests that commerce media offers transformational benefits to retail businesses, with over 96 per cent of retailers saying their programmes currently meet or exceed return on investment (ROI) expectations. However, more needs to be done, as the decision-makers surveyed said current solutions lacked scale, positive buying experiences, and measurement abilities. The study found that many retailers lack the internal expertise to deploy their commerce media programmes strategically, which leaders cited as the greatest key to success. The study also found that high-success retailers are considerably more effective in three core components of a commerce media strategy such as securing the necessary resources and partners to scale; the ability to prove ROI; and the ability to balance monetisation with customer experience. The research further suggests a range of best practices for retailers that want to leverage successful commerce media programmes, including investing in technology, aligning monetisation teams with ecommerce, and forming a supply-side cooperative. -- BERNAMA BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on the Astro 502, unifi TV 631 and MYTV 121 IFLIX channels and BERNAMA Radio on the FM93.9 (Klang Valley), FM107.5 (Johor), FM107.9 (Kota Kinabalu) and RM100.9 (Kuching) frequencies. Follow us on social media : Facebook : @bernamaofficial, @bernamatv, @bernamaradio