MediaCom UK has launched its first-ever retail media eCom Innovation Slam event series in the bid to arm clients ahead of the busiest commerce season and beyond into 2023.
Driven by the MediaCom UK’s centre of excellence for Ecommerce, the eCom practice, the Innovation Slams launched in 2021 with a roster of media brands leading to several campaign successes enjoyed throughout 2022. Recognising the significant growth of retail media, and in a bid to demonstrate the innovation and coverage potential that the channel can bring, this year’s Innovation Slam sessions are designed to provide MediaCom’s clients the opportunity to explore the channel’s creative avenues, and discover the insights it brings into greater consumer understanding.
With a wide range of retail platform partners involved, the eCom Innovation Slams entail a series of 15 minute “slam” presentations delivered by some of the biggest names in commerce media, including Amazon, Tesco, and Sainsbury’s, alongside up-and-coming platforms, and services such as Twitch, and Criteo.
As purchasing behaviours rapidly and dramatically shifted over the pandemic, the Ecommerce landscape has grown significantly. As Statista reports, the UK is the leading Ecommerce market in Europe, with UK eCommerce revenue reaching £129 billion in 2021 – up almost 15% year-on-year, and over triple that of 2015 figures. With eCom brands looking ahead to a busy Q4, MediaCom is supplying clients with the tools to effectively navigate retail media while exploring new and exciting untapped opportunities. With live and social shopping also continuing to rise, brands will need to explore the best routes, voices, and locations to shape their consumer experience, and the optimal ways to use the resulting content.
Meanwhile, as inflation encourages consumers to conduct more research in their purchase journey than ever before, brands will need to consider investment in searchable content that demonstrates customer value. Furthermore, as the consumer shopping journey continuously shifts thanks to these evolving shopping behaviours, the brands that recognise they will need to seamlessly converge both traditional and online channels will be those that thrive. With this in mind, retail platform partners addressed three key angles in the sessions, all intended to unlock the best ideas and innovation from media owners, establish the potential avenues open to brands within the channel, and in turn match them with the best-suited eCom brands.
Nick Baldwin, Director of eCommerce at MediaCom, said: “Our Innovation Slams have the potential to revolutionise the way retail media is considered. This is a rapidly developing area with so much to offer, so we are incredibly excited at seeing the ideas that will come out of them. This has been a high-energy event across the board.”
Vince Amato, Sales Manager, Brands & Agencies, at Criteo Retail Media added, “The last decade has seen both eCom, and specifically retail media, grow at a significant rate, with online sales in 2022 accounting for almost 30% of all retail sales. As shoppers continue to consider the digital shelf as on a par with the physical, brands are naturally far more invested in the importance it plays in their wider marketing mix, enabling them to reach their shoppers at the right moment.
“With this in mind, it’s great to see MediaCom recognise, pioneer and champion eCom innovation sessions such as these with their closest partners… As a partner, Criteo looks forward to continuing to collaborate and support MediaCom going forwards, and on future events.”
Louise Emmerson, Sales Director, UK at Twitch, commented: “Gen Z and Millennial consumers have grown up in a fully connected digital world and we’re now seeing eCommerce and retail media transform to reflect how they communicate and transact. Among a wave of new developments in retail media, many brands and retailers are now exploring how streamers and content creators can play a larger role in eCommerce. The Media Innovation Slams are hugely valuable for retail media brands to share insights and expertise as we navigate a fast-changing industry.”
Uche Ofili, Head of Agencies, Tesco Media & Insight Platform powered by dunnhumby, notes: “Brands and agencies are increasingly turning to retail media to drive awareness and sales through mass and personalised customer experiences that engage and inspire. Everything we do is fuelled by the insights generated from over 20 million Clubcard holders, a first-party nationally representative dataset which means we can put the customer at the heart of every decision.
“I enjoyed showcasing Self-serve powered by dunnhumby Sphere, our retail media platform that allows brands and agencies to take control of their Tesco retail media campaigns and plan, execute and measure on a self-serve basis. I look forward to bringing our retail media expertise to future Innovation Slams and other initiatives with MediaCom.”