What's Happening?
Jeff Cohen, the former Principal Evangelist for Amazon Ads, recently shared insights on the evolution of retail media into what is now termed 'commerce media.' Speaking on the Retail Remix podcast, Cohen explained
that commerce media represents the integration of the entire customer journey, breaking down traditional silos between discovery, consideration, and purchase. This shift allows brands to measure and optimize the entire path to purchase. Cohen, now the Chief Business Development Officer at Skai, highlighted the role of AI-powered shopping in marketing and the importance of moving beyond 'walled gardens' to reach omnichannel shoppers. He emphasized the need for brands to leverage unified, actionable data rather than focusing on endless metrics.
Why It's Important?
The transformation from retail media to commerce media signifies a significant shift in how brands approach marketing. By integrating the customer journey, brands can better understand consumer behavior and optimize their strategies accordingly. This evolution is crucial as consumers increasingly move fluidly between different stages of the buying process. The insights shared by Cohen underscore the growing importance of data-driven decision-making in marketing, particularly in an era where AI and social media platforms like Google, Pinterest, and TikTok play a pivotal role in consumer engagement. Brands that adapt to these changes stand to gain a competitive edge in reaching and retaining customers.
What's Next?
As commerce media continues to evolve, brands are likely to invest more in technologies that enable them to connect fragmented data and optimize their marketing campaigns. The focus will be on creating seamless customer experiences across various platforms and touchpoints. Companies may also explore partnerships with tech firms like Skai to enhance their data capabilities and improve their marketing strategies. The ongoing integration of AI in commerce media will likely lead to more personalized and efficient marketing efforts, benefiting both brands and consumers.
