Director of martech and data analytics at i-Cherry, Dora de Oliveira spoke about Retail Media in episode #63 of the propcast
Warc data reveals that the Retail Media strategy is expected to grow in 2024, reaching an investment of more than US$140 billion globally. As for Latin America, according to e-Marketer, 45% of consumers go directly to retail e-commerce instead of using search.
Dora de Oliveira, director of martech and data analytics at i-Cherry and interviewed in episode #63 of the propcast says, however, that Brazil still needs to overcome some challenges within this global trend. One of them, according to the expert, is making the data talk to each other.
Decisive moment
This year, due to privacy laws, we have discontinued third-party cookies, and this is making us rethink the way digital advertising is managed. You will no longer have a lot of external information used for average optimization and will need to have more internal information. So, this whole combination of organizing what we call first party data made many retailers organize their data and see it as revenue-generating assets. Why has Retail Media gained so much relevance? Because he so much sponsors the media that I, the retailer, am buying like him, it is also a possibility of increasing profit margins.
Development of platforms
The platforms have evolved a lot because Retail Media is very focused on the issue of hyperpersonalization, and the tools have used Artificial Intelligence a lot. They all go a long way towards using technology to achieve the personalization that the customer wants. And this happens along with the data. So, think about how to use the cloud, because we are talking about a very large volume of data, and the best technology has to offer to deliver the right message, to the right consumer, at the right time.
IA no RM
Artificial Intelligence is an extremely important technology for Retail Media. Just imagine: I have all the data on the customers who buy from me and I need, in real time, to handle this data so that I can deliver the advertising that makes sense for this customer. So, AI connects these ends of my database for the delivery of segmented media that I will do within retail, but AI has a very strong power to make this happen in real time. I’m going to have a machine learning machine working for me, a connected tool, to be able to generate the insight and make this delivery.
Challenges
The main barrier in the Brazilian market is culture and data quality. Although we have a lot of data, this does not mean that it is in good quality and ready for use. I think this is the biggest challenge facing the Brazilian market. We don’t have a market that is culturally focused on data, our market is more for the short shot. Why was search the king of digital for a long time? Because, in search, the person is closer to the account. I’m talking about last click. When we start to see that, to be able to make a sale, we need to have more information to buy better, we soon start to enter the kitchens of many brands and see that there is a lot of data loop. The CRM people have some data, the marketing people have others, and these data don’t communicate with each other. Amazon, which is a natively digital company, has a data organization and is therefore the leader in Retail Media.
