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Unlocking retail media: Disruption, challenges and opportunities
Journal of Brand Strategy,
13
(3),
210-218
(2024)
Abstract
This paper delves into the nuances of retail media, exploring its growth trajectory, the benefits it brings to various stakeholders and the challenges it poses while offering strategic insights for brands to effectively harness its potential. Retail media has emerged as a focal point in the digital commerce sphere, captivating attention and promising a paradigm shift akin to the emergence of search in the early 2000s. With ongoing technological advancements and a burgeoning array of retail media networks, the landscape is becoming increasingly dynamic and competitive. It is no wonder everyone is talking about retail media and the exciting opportunities it promises. In this paper, the author not only elucidates the immense potential of retail media but also sheds light on a crucial aspect often overlooked: the disruptive impact it can have on established business processes and structures. He then advocates for a proactive approach by brands to understand, acknowledge and adapt to these disruptions, paving the way for leveraging the full spectrum of opportunities presented by retail media.
Keywords: Retail media trend; challenges/complexity of retail media; retail media disruption; benefits of retail media; things to do to succeed in retail media
The full article is available to subscribers to the journal.
Author's Biography
Vivek Rastogi is a seasoned commercial and digital leader with over 18 years of experience in the consumer packaged goods (CPG) industry. Throughout his career, he has taken on roles of increasing responsibility across various commercial functions, working extensively in the USA, UK and India. Currently, Vivek holds the position of Senior Director — Global Digital Commerce at Colgate-Palmolive. In this role, he oversees end-to-end digital commerce, retail media, clean rooms and omni-channel strategy and execution. Vivek has a passion for building businesses and teams, bringing comprehensive commercial acumen to his role. He has successfully developed e-commerce businesses from the ground up in multiple international markets, leveraging his diverse commercial expertise. His current focus is on enhancing his organisation’s digital capabilities, leading transformative initiatives to stay ahead of industry trends and driving innovation within the company to meet the unique demands and nuances of digital commerce. Vivek is widely recognised as a digital commerce expert and thought leader, frequently featuring in various industry forums where he speaks on topics such as customer management, retailer engagement, channel strategies, negotiations, go-to-market strategies, digital transformation and e-commerce.
