A quarter of US shoppers are influenced to buy products via ads on retailers’ websites, according to new research from Intellias, as reported by Search Engine Land. This is compared with just 13% of consumers who are influenced by ads on third-party marketplaces and 14% who buy after seeing social media ads.
Trust is a major factor.
- Over half (54%) of consumers said they would be more likely to buy items advertised to them by a trusted retailer, per Intellias.
- About as many (55%) would be more likely to try out a new brand they hadn’t purchased before if a retailer they regularly shop with recommended it to them.
What this means for advertisers: Brands can leverage the strong relationships between retailer and consumer to break through the noise and reach consumers where they’re most likely to pay attention. This can help improve campaign effectiveness and boost sales.
What this means for retail media networks: This data highlights the importance of the consumer/retailer relationship and shows that retailers’ owned channels remain a vital part of the retail media mix. RMNs can use this to secure additional retail media investment from advertisers.
- US retail media ad spend will grow 26.0% to reach $54.85 billion in 2024, per our forecast.
- We expect the majority (80.5%) of that spend to take place on-site.
This was originally featured in the Retail Media Weekly newsletter. For more marketing insights, statistics, and trends, subscribe here.
