{"id":784779,"date":"2023-09-19T06:03:40","date_gmt":"2023-09-19T10:03:40","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/new-study-finds-technology-providers-are-key-to-driving-commerce-media-success\/"},"modified":"2023-09-19T06:03:40","modified_gmt":"2023-09-19T10:03:40","slug":"new-study-finds-technology-providers-are-key-to-driving-commerce-media-success","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/new-study-finds-technology-providers-are-key-to-driving-commerce-media-success\/","title":{"rendered":"New Study Finds Technology Providers are Key to Driving Commerce Media Success"},"content":{"rendered":"

\nWhile many commerce media programs exceed ROI expectations, retailers still struggle across technology, processes, and logistics
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NO-HEADQUARTERS\/REDWOOD CITY, Calif., Sept. 19, 2023 (GLOBE NEWSWIRE) — PubMatic<\/u><\/a> (Nasdaq: PUBM), an independent technology company delivering digital advertising\u2019s supply chain of the future, today released a new study<\/u><\/a> commissioned by Forrester Consulting finding that retailers see tremendous upside for commerce media revenue but increasingly consider partnerships and technology support as critical factors in meeting objectives.<\/p>\n

In the study \u2013 which surveyed 309 commerce media strategy decision-makers at US- and UK-based retail and travel organizations \u2013 respondents said nearly 2% of their overall revenue comes from commerce media today with hopes this will more than double to reach 4.37% in the future. Additionally, more than 50% of retailers said they are planning to change their technology vendor to further enhance their capabilities. Data privacy is top-of-mind for decision-makers as they consider technology partners, alongside deploying tech solutions that are unified, flexible, customizable, and scalable.<\/p>\n

\u201cCommerce media is in its infancy stage and growing rapidly,\u201d said Peter Barry, VP of Addressability and Commerce Media at PubMatic. \u201cRetailers starting to participate in commerce media have seen success, but they are still experimenting and evaluating whether their current technology partnerships enable them to make the most of their valuable media properties and consumer relationships.\u201d<\/p>\n

The study suggests that commerce media offers transformational benefits to retail businesses, with over 96% percent of retailers saying their programs currently meet or exceed ROI expectations. However, more needs to be done, as the decision-makers surveyed said current solutions lacked scale, positive buying experiences, and measurement abilities. The study found that many retailers lack the internal expertise to deploy their commerce media programs strategically, which leaders cited as the greatest key to success.<\/p>\n

\u201cCommerce media networks will need to outsource technology where possible, as many commerce companies don\u2019t have the talent or time to develop these capabilities in-house,\u201d said Barry. \u201cBy making some smart investments and operational changes, companies across verticals can benefit from this in-demand new advertising channel.\u201d<\/p>\n

The study also found that high-success retailers are considerably more effective in three core components of a commerce media strategy:<\/p>\n