2. Costco
Costco launched its retail media network, which leverages member data to enhance on- and off-site ad targeting.
“[Costco] doesn’t typically have a very strong online business, but they do a lot in-store,” our analyst Suzy Davidkhanian said. With a strong sampling business and self-checkout at select locations, Costco knows its shoppers will spend a significant amount of time in its brick-and-mortars, making it ripe for in-store retail media.
In-store will account for only 0.7% of US omnichannel retail media spend this year, according to our March 2024 forecast. “The amount of dollars that an advertiser would have to spend to go into all of the store footprints is gigantic compared to online,” Davidkhanian said.
3. Instacart
Instacart partnered with The New York Times and YouTube to bolster its off-site retail media ad business. Now, recipe readers and video viewers can shop for relevant ingredients advertised to them through Instacart’s first-party data.
“Instacart has a much bigger view across different grocery stores versus a competitor such as Walmart, which is limited to data from its own customers,” Davidkhanian said.
4. Albertsons
Albertsons is expanding its retail media capabilities through a partnership with Rokt, allowing non-endemic brands to advertise on its network, and the launch of Collective TV, offering connected TV targeting and measurement solutions.
“[Albertsons] have consistently shown that regardless of what happens with the potential merger with Kroger, they’re making strong moves to build their retail media empire—and it’s not a flash in the pan,” our analyst Jeremy Goldman said.
5. Amazon
Teaming up with GroupM, Amazon is developing shoppable content for its free ad-supported streaming TV channel on Prime Video and Freevee. “Even if [livestream shopping] doesn't work for Amazon, finding ways to incorporate buying in shows is smart for them,” Lebow said.
6. Fenty
Rihanna’s beauty company is expanding its product line with a hair collection, which maintains the brand’s commitment to diversity and representation. “It’s so clever that they didn’t just do an extension of its makeup line, but new branding as Fenty Hair,” Davidkhanian said. Hair care was the No. 2 purchase category after skincare during Ulta’s and Sephora’s spring sales events, according to April 2024 data by CivicScience, “so it’s definitely a growing category,” she added.
7. TikTok Shop
Setting a new record, TikTok Shop saw $1 million in sales through a six-hour livestream hosted by Canvas Beauty. The social platform also rolled out a visual search option that enables users to upload images and find similar items on TikTok Shop—a feature that rivals Google.
The image search feature leans into TikTok’s strengths and shifting digital behavior among young people, Goldman said. Gen Z is 25% less likely to use Google for searches compared with Gen X, according to a May 2024 report by Forbes Advisor and Talker Research. “What we’re really seeing is a fragmentation of search experience, and TikTok Shop is taking advantage of that.”
8. Tractor Supply Co.
Tractor Supply Co. is working with retail software company Revionics to improve pricing, promotions, and access to analytics to align with shifting consumer demand and market conditions. The retailer is also revamping its Neighbor’s Club loyalty program, making it easier to collect rewards and move through membership tiers.
“[Tractor Supply Co.] realizes what's driving people in-store, but they also understand how to navigate the online experience,” Davidkhanian said.
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