Growing Retail Media Network (RMN) capabilities are helping U.S. retailers tap into the impulse spend economy, encouraging shoppers to make unplanned, spontaneous purchases of products advertised in-store, according to the latest research from ADvendio, the leading omnichannel advertising solution provider.
Original research of over 1,000 U.S. shoppers by ADvendio revealed that over two thirds (67%) had bought a product that they had not intended to buy after seeing it advertised to them in-store, rising to over three quarters (78%) of Millennials. With U.S. shoppers spending an average of $151 a month on impulse buys and making an average of 6 impulse purchases, in-store ad capabilities are helping retailers capitalize on these spontaneous spending moments and open up new revenue streams.
Almost two thirds (64%) of U.S. consumers polled by ADvendio consider themselves to be the most impulsive when shopping in-store, highlighting the effectiveness of retail media ads in engaging shoppers at the shelf-edge. And demand for in-store ads and product recommendations among shoppers is also increasing; now, over half (54%) would like more digital ads at the shelf-edge to inform their buying decisions.
When it came to trying out new products, almost half (48%) said immersive digital adverts about products in-store would make them more likely to try an item they hadn’t bought before, while 50% said immersive digital adverts about merchandise in the store helps validate their purchasing decisions for products they already buy.
Samantha Giaver, Head of Growth at ADvendio, commented: “Marketing at the point of purchase is powerful. When Walmart Connect talks about the ‘Super Bowl sized audiences’ that its brick-and-mortar stores can offer 3rd party brands each week, it shows the vast scale and potential of retail media. Retailers who own the first-party data that brands crave can shape more tailored and relevant messaging that triggers impulse buys and increase the chances of triggering a sale from their ad spend, bringing 3rd party brands closer to conversion-ready shoppers in-store.”
ADvendio is the only Salesforce-powered solution that brings together media selling and media buying technology on one complete platform. Global outdoor, media, retail, agency, and internet companies, ranging from SME to large enterprise, rely on ADvendio to deliver highly relevant omnichannel campaigns at scale.
Providing a ready-to-use solution for mature omnichannel buyers and sellers, as well as scalability for single-channel specialists the ADvendio platform streamlines campaign management from order to invoice with automation, programmatic, and self-serve capabilities to buy smarter and sell faster.