The retail media sector is experiencing rapid growth due to the advantages it offers to retailers and brands alike. Brands that rely on retail channels for sales are increasingly keen on leveraging retailer data to enhance their advertising efforts, especially with the phasing out of third-party cookies. Retailers are stepping up by establishing retail media networks that aim to facilitate better connections between brands and consumers, enhance product visibility, and drive sales.
In order to support retailers and brands in achieving their mutual objectives, we have recently introduced a closed beta version of offsite retail media campaigns in Search Ads 360 (SA360). Offsite retail media allows brand advertisers to target a broader audience in unique digital spaces beyond the retailer’s website, while also tracking product sales on the retailer’s platform. Our offsite retail media solution in SA360 empowers advertisers to enhance campaign performance by leveraging exclusive retailer audiences alongside Google AI, ensuring scalability across various channels.
Within SA360, we have established a privacy-focused mechanism for participating retailers to authorize brands to utilize their first-party data for AI-driven Performance Max campaigns. Additionally, in the upcoming months, we will be testing functionalities that facilitate self-service campaign management for brands and expanding the beta program to encompass a wider array of retailers worldwide.
We are also thrilled to announce our collaboration with home improvement retailer Lowe’s as one of our initial beta partners. Lowe’s is rolling out its first offsite retail media initiative on Google Search and Shopping platforms, commencing with a managed service model, and joining forces with SA360 to pave the way for self-service options for their brand affiliates in the future.
