IAB Europe launches new Retail Media Working Group
IAB Europe, the European-level industry association for the digital and marketing ecosystem has announced the creation of a new Retail Media Working Group.
The group will bring together stakeholders from across this emerging new channel in order to enable collaborative conversations, provide education and insights and create recommendations to shape and define this new, exciting advertising space.
Retail Media in Europe is accelerating each year and is a key part of the media plan. In 2021 the market was worth €7.9 billion and this is expected to reach €25bn by 2026, representing a significant investment opportunity. Further, a recent buy-side survey on the Retail Media Opportunity in Europe shows that retail media is already a key part of the media plan; 92% of advertisers and 74% of agencies surveyed state that they are currently partnering with retailers to reach consumers[1].
The new working group is open to all IAB Europe members and will provide education on the retail media landscape, the benefits, use cases as well as insights and standards to enable the market to continue to grow. IAB Europe is also pleased to welcome some new retail brands to its membership to take part in the working group.
Marie-Clare Puffett, Senior Manager, Marketing & Industry Programmes, IAB Europe: “Retail Media is a key area of growth within the digital advertising sector. IAB Europe has spent the past few months discussing the landscape in Europe with key retailers and players and looks forward to kicking off the Working Group to enable cross-industry collaboration.”
