This episode breaks down crucial shifts in retail, from Affirm's Apple Pay integration democratizing BNPL in-store to Kroger's tactical revival of paper coupons. Crucially, it demystifies the rise of retail media networks, offering ecommerce operators a strategic lens to understand new monetization avenues and navigate advertising complexities beyond traditional platforms.
Key takeaways
Affirm's integration with Apple Pay for in-store BNPL opens new sales avenues by making flexible payments accessible at the physical point of purchase; evaluate integrating similar solutions for improved customer conversion.
The resurgence of paper coupons, exemplified by Kroger, indicates a segment of value-conscious consumers not fully captured by digital-only promotions; consider omnichannel coupon strategies to cater to diverse shopper preferences.
Retail media networks are becoming essential revenue drivers; brands and agencies must develop clear strategies to evaluate RMN effectiveness, measure ROI, and leverage first-party data for targeted advertising beyond Amazon.
To succeed with retail media networks, focus on clear value propositions for advertisers, transparent measurement, and robust first-party data utilization to offer differentiated and effective advertising solutions.
Bridge the gap between online and offline shopping experiences by adopting payment innovations like in-store BNPL to meet evolving consumer expectations for convenience and flexibility across all retail touchpoints.
Themes
consumer behaviorpayments & fintechretail innovationretail media & advertising
On this week's Modern Retail Podcast, senior reporter Melissa Daniels is joined by executive editor Anna Hensel. First they discuss Affirm's new rollout with Apple Pay to provide its buy now, pay later services in store (1:09). Then they unpack the trend of paper coupons making a comeback in some retail environments, with Kroger announcing it has been bringing back paper coupons to help appeal to value-mined shoppers or those who aren't comfortable with more digital savings programs (9:49).
Then, on this week's featured segment (18:19), Hensel is joined by Digiday's senior marketing reporter Kimeko McCoy to talk about the rise of retail media. Retailers are in search of more ways to grow revenue, and they are enticed by the size of Amazon's business. So, more of them are looking to build their bonafide media networks. Hensel and Kimeko discuss what is fueling the rise of retail media, what the big challenges are that brands and agencies are facing as they try to sift through what retail media networks make sense for their particular business, and what it will take for more retail media networks to succeed.
Frequently asked about this episode
What does this episode say about consumer behavior?
Affirm's integration with Apple Pay for in-store BNPL opens new sales avenues by making flexible payments accessible at the physical point of purchase; evaluate integrating similar solutions for improved customer conversion.
What does this episode say about payments & fintech?
The resurgence of paper coupons, exemplified by Kroger, indicates a segment of value-conscious consumers not fully captured by digital-only promotions; consider omnichannel coupon strategies to cater to diverse shopper preferences.
What does this episode say about retail innovation?
Retail media networks are becoming essential revenue drivers; brands and agencies must develop clear strategies to evaluate RMN effectiveness, measure ROI, and leverage first-party data for targeted advertising beyond Amazon.
What does this episode say about retail media & advertising?
To succeed with retail media networks, focus on clear value propositions for advertisers, transparent measurement, and robust first-party data utilization to offer differentiated and effective advertising solutions.
What does this episode say about consumer behavior?
Bridge the gap between online and offline shopping experiences by adopting payment innovations like in-store BNPL to meet evolving consumer expectations for convenience and flexibility across all retail touchpoints.
