Publicis Sapient has partnered with Google Cloud to launch a Retail Media Network (RMN) Accelerator to help clients grab a share of the booming retail market, which is forecast to reach $2.8 billion by 2027 in Australia.
John Costello, Publicis Sapient’s chief technology officer – Australia, said in terms of the local market, the 2027 prediction by financial consultancy Morgan Stanley shows some Australian brands are at risk of being left behind in a sector that is growing 23 per cent a year.
“We think this accelerator will help local brands move more quickly to take advantage of the retail media opportunity,” he said.
The RMN Accelerator is a differentiated high-value solution that accelerates time-to-value for clients. It provides the foundation for a Retail Media Network and allows retailers to monetise consumer and product data by establishing an advertising platform on their digital and physical properties.
The RMN Accelerator lowers the barrier to entry for retail media networks to increase their presence across large and long-tail advertisers.
Randall Orbon, executive vice president, Strategy & Consulting at Publicis Sapient, said the RMN Accelerator is a “key step” in the collective journey to bring the Retail Media Networks solution and drive digital business transformation for joint customers.
Amy Eschliman, managing director, Cloud Retail Industry Solutions at Google Cloud, said leveraging and combining Publicis Sapient’s domain retail expertise and Google Cloud’s AI technologies “we will enable enterprises to maximise the value of retail media networks at scale.”
“Through our joint capabilities, enterprises will have access to industry-leading experts that will enable clients to generate, and quickly grow, new revenue streams.”
This accelerator will help brands make their RMN platform available with powerful measurement, insights and self-service capabilities, as well as provide media planning activation and automation for both direct advertising and media network- based advertising.
The solution provides Omnichannel web application and dashboard to measure performance across campaigns, audiences, budget and pacing, generative AI-enabled audience explorer, post campaign wrap-up reports, and robust blueprint to scale a retail media network.
The RMN Accelerator also provides long-term opportunities for expansion beyond retail to other industry networks like travel, hospitality, automotive and QSR.
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Top image: John Costello