MIAMI BEACH, Florida – Industry leaders convened this week to explore the future of marketing, at the Possible Conference in sun-splashed South Florida.
The main topic of conversation at the event: groundbreaking innovation.
On Wednesday, for example, a panel featuring Walmart US chief revenue officer and executive vice president Seth Dallaire examined the key role of commerce in shaping modern marketing. Here’s a breakdown of the event’s business-building takeaways:
Shoppable Content Improving ROI
The panel highlighted the emergence of shoppable content as a cultural touchstone. This paradigm shift underscores the integration of commerce into content, inspiring consumer engagement and streamlining the path to purchase.
As Dallaire noted, this transformation underscores retailers’ evolution into dynamic media environments.
Harnessing Data for Enhanced Customer Experiences
The utilization of first-party data to curate personalized customer journeys is becoming imperative for businesses like retailers.
As consumer expectations evolve, brands must leverage data-driven insights to deliver relevant messaging. Through strategic investments in technology and partnerships, retailers like Walmart empower brands to forge meaningful connections with consumers across various touchpoints.
Looking Ahead: The Evolution of Retail Media Networks
In 2024, retailers have become formidable media platforms. Armed with customer data, they offer targeted advertising avenues to brands, improving how they engage consumers at the point of purchase. The introduction of Walmart Connect in 2021 exemplified that shift, with its rather impressive personalized marketing.
Retail media networks (or RMNs) appear poised for major growth. With data analytics at their disposal, retailers can more easily foster customer engagement. RMN success requires adaptability, though, as Dallaire noted. As trade marketing converges with brand marketing, marketers must adopt a holistic approach.
Dellaire’s insight underscores the important role of bridging data signals from physical stores to digital channels. And that convergence could redefine marketing, offering brands the opportunity to connect with consumers on a deeper level.
Editor’s note: Ivonne Kinser serves as the innovation advisor at The Food Institute. Kinser previously served as the head of marketing and innovation for Avocados From Mexico for nearly a decade and in 2023 founded Vantage Creative, a marketing innovation lab.
The Food Institute Podcast
From lattes to chicken sandwiches to desserts, it seems every restaurant is hopping on the limited-time offer (LTO) craze to drive traffic and check growth. But is this really having the desired effect? Datassential vice president of sales Megan Lynberg discusses the historical data on LTOs, popular LTO items, and other strategies companies are using to inspire growth.
