2024 Retail Media Predictions: Conversational AI, TikTok Partnership, In-House Retail Media, Personalized Ads, and Incrementality

Brands must adapt swiftly to technological advancements, optimize their interaction with AI, and keep a pulse on consumer data to succeed in the increasingly interconnected web of retail media.

• Conversational AI is predicted to become the primary way consumers interact with retailers, replacing the traditional search bar. This technology allows for more personalized and intuitive shopping experiences.
• Walmart and TikTok are expected to announce a significant advertising or commerce partnership in 2024. The partnership could provide mutual benefits, such as a well-matched demographic and the potential for TikTok to add 50 million SKUs to its inventory.
• More retailers are expected to in-house their retail media, following the example of Kroger, which launched its own self-serve ad platform in 2023.
• Amazon's Connected TV ads are predicted to become highly personalized, making use of the extensive data Amazon has on its customers.
• The concept of 'incrementality' in retail media will remain a buzzword. Brands want to understand how their advertising spend on new retail media networks or marketplaces is helping to acquire new customers or unlock sales.

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