Kevel: Why Retail Media Needs a Rebellion
Retail media is one of digital advertising’s fastest-growing sectors. But the space is also home to intense debates over retailers’ control of their own data and inventory, the emergence of new walled gardens, and privacy.
James Avery, CEO and founder of Kevel, claims retail media needs a “rebellion.” We talked about why.
You think retail media needs a rebellion. Why?
In the initial rush to launch retail media platforms during the pandemic, retailers were forced to compromise growth and sustainability in the name of speed. They needed a platform as quickly as possible, but now they are seeing gaps in their ready-made solutions and realizing that the partners they selected don’t have their best interests in mind. Retailers need to seize control of their platforms with the understanding that it’s a journey and not a destination.
How is Kevel participating in the retail media space?
Kevel provides the technology retailers can use to own their retail media network. With the economic downturn and increased digital competition, incremental revenue is crucial for retailers to reach their revenue targets. So, we seek to help other retailers compete with the Amazon and Walmarts of the world while still owning their data, their user experience, and their revenue.
Kevel isn’t a media company, but our infrastructure API is unique in that we focus on future-proof features that give retailers an opportunity to sustain long-term success and stay competitive in a crowded marketplace.
How can retailers achieve parity with competitors and scale their media networks?
Amazon and Walmart have made large investments in their media networks, and retailers aren’t going to be able to keep up by outsourcing it to one of the standard providers. Retailers need to invest and own their network, and they need partners who help them accelerate their time to market without compromising because Amazon and Walmart aren’t compromising! It also comes down to retailers taking ownership of their data, revenue, and harnessing personalized user experiences.
What are some of the best practices for retailers to regain control of platform monetization?
Retailers need to own their relationships with their advertisers. Competition is only increasing and if they are offering the same thing, sold through the same vendors, they will start to see less and less revenue. Retailers also need to own their data. As we see third-party cookies go away, strong first-party data will be more and more important, and retailers need to ensure they aren’t giving it away.