This podcast first appeared on Marketing Publication Mi3 here
Retail Media Builds Bridges: Canada’s leading department store Holt Renfrew on how marketing and merch alignment powers growth in demand, CX and profit.
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What you need to know from this podcast:
- Holt Renfrew is pairing physical and digital retail media to drive brand and performance objectives for advertisers – and improve CX for luxury customers.
- Trade marketing boss Ashlee Nickel says running its own retail media P&L provides the freedom to think longer term – and invest in new formats that others have overlooked rather than squeezing key assets too hard.
- That approach is bringing in new advertisers and unlocking cross-category wins – and Sonder’s Jonathan Hopkins says the ability to deliver big in-store activations is where physical retailers hold a full-funnel advantage.
- “Brands see the powerful combination of an attractive environment to activate in a place where customers are already purchasing their products … So they tend to invest heavily – and the activation tends to be the lightning rod for all other media that surrounds it.”
- Properly executed, a physical-digital combination means “retail and commerce media is not just a bottom funnel point-of-sale marketing initiative”, per Hopkins. “It is working top of funnel brand engagement just as much.”
- Key for retailers is to set up and resource properly in the first place – without setting revenue targets based on misguided assumptions.