Perion’s retail media business grew 75% YoY in Q2
Perion Marketing
04th Sep 2024
During our Q2 2024 earnings call, we were proud to report 75% year-over-year growth in our retail media business for the quarter.
Retail media networks allow advertisers to engage consumers actively shopping both online and in-store. By leveraging first-party data, these networks deliver timely, personalized messages that boost sales and promote products to consumers demonstrating purchase intent. They also track the effectiveness of advertisements through to checkout, closing the performance loop. These networks have been a boon for retailers, generating incremental revenue by monetizing access to shoppers. In 2023, retail media networks saw revenues increase by over $10 billion, reaching $119.4 billion, according to eMarketer. This year, they are expected to grow by an additional 8.3%.
At Perion, we have experienced explosive growth in retail media. We collaborate with retailers and enable brands to access inventory to deliver targeted, effective campaigns both online and in-store. With us, retailers and brands can deploy omnichannel, measurable campaigns that activate custom audiences and drive significant business outcomes. We promote genuine user engagement with precisely timed ads to maximize performance. Our technology facilitates cross-screen ad formats with advanced audience segmentation, delivering dynamic, personalized experiences.
“The growth we’re seeing in the adoption of our Retail media technologies highlights our role in empowering both retailers and brands,” says Tal Jacobson, our CEO. “ By facilitating targeted, data-driven campaigns, we’re helping retailer brands better engage their customers and prospects.”
Today, our retail media technologies revenue accounts for 24% of our total advertising solutions revenue, up from 10% last year.
“In this dynamic and highly competitive retail landscape, retailers and brands must meet consumers where they are, whether it’s online or in-store,” adds Tal. “The immense investment in retail media is set to shape digital advertising for years to come, and we are excited about that future, especially when we’re adding so many more AI components into this tech.”
Our retail media business operates as a full-stack, omnichannel platform, empowering retailers and brands to create comprehensive consumer experiences. This approach spans the entire marketing funnel, from top-of-funnel engagement via Connected TV (CTV) to bottom-of-funnel impact through in-store digital-out-of-home (DOOH). This seamless integration ensures that every stage of the consumer journey is effectively targeted and optimized for maximum impact. At Perion, we are also proud to partner with leading global retailers and brands such as Albertsons, Kroger, Macys and Home Depot.
To learn more and activate a retail media strategy today,
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