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RETAIL MEDIA: A $200 BILLION OPPORTUNITY BY 2026

Retail media could be bigger than TV advertising as early as 2025 and the category could reach close to $200 billion a year after, Barclays analysts say in a note.

"Retail media solves a lot of problems facing digital advertising in an era of heightened consumer privacy, making first-party shopping data more valuable," they say.

The analysts point out that retail media -- which allows brands to advertise their products and services on retailer or third-party websites -- can reach consumers at critical time close to the point of purchase.

The analysts see retailers and e-commerce platforms as the primary beneficiaries of retail media, given they should be able to achieve significant incremental revenue at very high margins. For retailers, retail media means incremental revenue at margins between 50% and 90%, they say. Their favourite names are Tesco TSCO.L, Allegro ALEP.WA, Amazon AMZN.O and Instacart CART.O.

Advertising agencies should benefit too, as key intermediaries in the value chain that will continue to play a key role in facilitating retail media spend, Barclays says.

However, main losers are traditional media owners like broadcasters, they say.

(Anna Pruchnicka)

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