What's Happening?
Simon, a prominent mall and shopping center operator, is leveraging first-party data from its in-center WiFi network to improve advertising targeting for brands. Collaborating with Adentro, Simon is using anonymized data from on-site WiFi engagement to curate and target audiences more effectively. This initiative is part of Simon Media & Experiences' retail media arm, aiming to connect retailers and brands with shoppers both in physical malls and online. The program has been operational for over two decades, providing a fully scaled in-mall media network that enhances visibility and drives traffic to both online channels and physical stores.
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Why It's Important?
The use of first-party data in retail advertising is crucial as it allows brands to target high-intent shopping audiences more precisely. This approach can lead to increased engagement and sales, benefiting both retailers and consumers. By integrating online and offline shopping experiences, Simon is setting a precedent for other retail operators to follow, potentially reshaping the retail advertising landscape. Brands stand to gain from improved targeting capabilities, while consumers benefit from a more personalized shopping experience.
What's Next?
Simon plans to expand this retail media initiative further, potentially increasing the number of brands and retailers involved. As the program grows, it may lead to more sophisticated data-driven advertising strategies, enhancing the overall shopping experience. Stakeholders, including retail brands and advertisers, are likely to monitor the program's success and consider similar strategies to optimize their advertising efforts.
