What's Happening?
As Black Friday approaches, marketers are significantly increasing their off-site retail media spending to capitalize on the anticipated surge in holiday shopping. According to data from TripleLift, 46% of marketers are reallocating budgets, while 23%
are introducing incremental investments to extend their reach beyond traditional retailer platforms. This strategic shift is driven by the expectation that spending during Black Friday Cyber Monday (BFCM) will surpass last year's figures, with 80% of UK retailers forecasting higher sales. The focus is on bridging the gap between consumer awareness and conversion, with more than half of marketers planning to boost retail media spend by up to 20% this quarter.
Why It's Important?
The increase in off-site retail media spending highlights the evolving strategies of marketers aiming to maximize their impact during peak shopping seasons. By leveraging off-site media, brands can enhance their visibility and engagement with consumers, potentially leading to higher conversion rates and sustained momentum beyond the holiday period. This approach reflects a broader trend in retail media, where creative excellence and data-driven strategies are prioritized to maintain consumer interest. As the retail landscape becomes more competitive, marketers who effectively utilize off-site media may gain a significant advantage in capturing consumer attention and driving sales.
What's Next?
Marketers are advised to continue refining their strategies by integrating insights from lead-in campaigns and utilizing first-party data to enhance targeting. The focus should remain on creative excellence and the use of high-performing formats such as Native and Video to sustain consumer engagement. As the holiday season progresses, brands will need to adapt their strategies to maintain visibility and drive long-term growth, ensuring that the momentum gained during Black Friday extends into the new year.
