Retail media revenues double for Macy’s

Macy’s Inc., the retail holding company, saw the revenues generated by its retail media operations almost double year-on-year, reaching $26 million overall, in the last quarter.

Why it matters

Retail media is an area of growing competition in terms of both supply and demand. With more retailers using first-party data to help advertisers reach consumers at or near the point of purchase, both online and in-person, the category is likely to witness further intensification in buyer interest going forwards.

Takeaways

• The Macy’s Media Network offers a range of ad solutions, from sponsored product listing to on-site and off-site display ads, online branded experiences, email and in-store inserts.
• Jeff Gennette, chairman and CEO of Macy’s Inc., reported on an earnings call that its growth was “above expectations”, with an uptick in clients and campaign volumes.
• Some 320 vendors have been involved with this program to date across the Macy’s and Bloomingdale’s brands, indicating “lots of pent-up interest for this,” Gennette said.
• “We do expect that the vendor and the campaign count is going to continue to grow,” he added.

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