Best Retail Media Networks to Try in 2023
Retail media networks such as Amazon, Instacart, Walmart, and Target have a strong hold on the online market, making it important for businesses to consider joining them. According to Insider Intelligence, Walmart and Instacart dominate the online retail world.
Each network has unique attributes and benefits that can impact a company’s online presence positively or negatively. While Logical Position typically recommends Amazon Advertising solutions, other platforms also offer advantages. To help businesses navigate these options, here is a brief overview of retail media networks worth trying in 2023 and their respective benefits.
Walmart: The Big Alternative of Amazon
Walmart is the dominant force in physical retail, with over 3,500 stores across the USA, a location within 10 miles of 90 percent of Americans, and the ability to ship almost anything to any store. Despite its size and reach, Walmart is often overlooked as a platform for online selling, offering access to a vast audience without Prime memberships or reliance on search engines.
Walmart has the lowest barriers to entry for sellers and currently offers multiple incentives to attract new vendors. Logical Position plans to increase its presence in Walmart in 2023, but other retailers also offer unique advantages. For a more boutique experience from a larger retailer, other options may be preferred.
Retail Media Networks: Target
Did you know that Target is pretty different from Walmart when it comes to selling your stuff on its platform? You can’t just sign up and start selling; you gotta get an invite first. But don’t worry, it’s not because they’re being snooty, it’s just that they want to work with brands and manufacturers who make their own products.
This actually helps Target avoid some of the problems that Walmart and Amazon have had with third-party sellers. Plus, since Target’s shoppers are usually older and have more cash to spend, it’s a great place to sell high-quality merchandise.
And here’s the best part – because there aren’t tons of other people selling the same stuff as you, you’ll have better rankings and customers will find you faster on their site. So, if you’re looking for a more exclusive platform to sell your products, Target might just be the way to go.
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Retail Media Network Instacart
Instacart, a retail media network that has been in operation since 2012, is poised for significant growth. Despite the competition, Instacart continues to expand its offerings by introducing new types of products and has successfully built an impressive core base, especially during the pandemic when people were exploring new shopping platforms. Although Instacart may not offer as many features as more established platforms like Amazon, it presents a great opportunity for sellers to establish themselves and grow their businesses. Like Walmart, Instacart has lower barriers to entry, making it accessible to a wider range of sellers.
Kroger & CPGs
Logical Position has yet to fully explore Kroger as an advertising platform, but we acknowledge its potential. Kroger’s platform is a combination of Walmart and Instacart, and during the pandemic, it served as a crucial resource for consumer packaged goods (CPGs) such as food, drinks, and household items. By expanding its user base, Kroger was able to pivot towards becoming a more retail-oriented network. It’s important to note that having a significant sales volume on Kroger’s site can help you get your products on their physical store shelves. This is also true for Walmart and Target, with Walmart aggressively seeking ways to increase in-store presence through online marketing.
Our list of recommended retail media networks for 2023 is now complete, offering a range of alternatives to Amazon’s marketing services. At Logical Position, while we firmly believe in the effectiveness of Amazon Advertising, we prioritize what’s best for our clients. Expanding to a new platform that complements your existing ones can be a significant boost to your business. Being an early adopter has its perks, so don’t wait for your competition to beat you to it. Get in touch with Logical Position today for more information!