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Nearly half of brands now rely on Amazon DSP today, up from around one third in 2019, according to one study. That market share will likely only grow amid the demise of the third-party cookie.
The days of the Facebook whiz who can type out a few keystrokes and acquire thousands of customers thanks to an algorithmically-provided lookalike may be numbered. And brands that have relied solely on quick and easy digital customer acquisition tricks to grow their businesses face a tough road ahead.
The messages app is starting to replace the email inbox as the most sought-after piece of digital real estate among brands and retailers. Using text messages to promote sales or new product launches are the most popular tactics, but marketers are still trying to figure out what kinds of text messages people would actually want to receive from them.
Right now retail media is defined by an arms race between Amazon and Walmart. However, challengers like Target and CVS are looking to compete with their own offerings.
In his investor letter, Jeff Bezos confirmed that Amazon Prime now has “more than 200 million subscribers” worldwide. But beyond that top-line figure, a few other numbers in the Bezos letter illustrate exactly where that growth is coming from -- and largely confirm existing speculation about the ascendancy of Amazon’s third-party sellers, its accelerating logistics footprint and the growth of its Alexa system.
Read MoreAt the Modern Retail Summit LIVE, retail executives will come together virtually to discuss effective strategies for driving sales by building a loyal customer base both online and offline.
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