Crealytics, a leading ad tech firm in the retail media industry, released its 1H24 Sponsored Products Benchmarks Report. The report offers invaluable insights into the rapidly evolving world of online retail media, with a focus on sponsored product ads across various retail media networks (RMNs).
The report highlights a significant opportunity for retailers beyond Amazon to capture a larger share of the e-commerce advertising market. As Amazon generates the majority of its ad revenue through on-site monetization—particularly sponsored products which contribute an impressive 75%—other retailers can learn from this model and optimize their own retail media networks to tap into this lucrative revenue stream.
“Our latest report highlights the immense potential of retail media advertising and the critical role of sponsored product ads in driving revenue growth,” said Lars Djuvik, CSO of Crealytics. “While an omnichannel approach is essential, sponsored product ads form the core foundation, often accounting for up to 70% of retail media revenue. By providing valuable benchmarks and insights, we aim to help businesses optimize their strategies and unlock their full potential.”
Key findings from the report include:
- A comprehensive ranking of RMNs based on sponsored product ad performance, including metrics such as ad coverage, attention, and page placement.
- Insights into the most dominant brands in retail media and their advertising strategies.
- A look at how well RMNs cover long-tail searches and the opportunities for improvement.
- Seasonal category trends, including Christmas and New Year, and the impact of major events like CeraVe’s Superbowl ad push.
For more such updates, follow us on Google News Martech News