Is Retail Industry Missing The New Opportunity?

February 13, 2020
 – 
Janne Lohvansuu
While digital space is becoming complex and having several growing pains, it reveals the unused opportunities for retailers: having a real world space with an authentic audience is a competitive advantage not to be missed.

Space with an audience has always held value in it. During the past decade the digital space has gained a value out of the audience within the digital space. Platforms like Facebook have been born into digital space connecting audiences to advertisers. That’s the core of how they make their millions or billions.

Having a real world space with an authentic audience is a competitive advantage not to be missed. The tech, the digital and the AI are just means to do business — the space is a marketplace already.

THE UNSEEN OPPORTUNITY

Recently the digital platforms have had a growing number of issues affecting the trust among the audience — data privacy issues, GDPR, trolls or just generally the algorithmic bubbles that creates more polarisation than equality. These issues with trust affect the way advertisers see these channels and their willingness to invest in them.

While digital platforms struggle with their issues, it is time for retailers to focus on the unseen opportunities like having the real audience and having a built long-standing relationships with the brands, which pay them millions every year in trade-marketing for prime shelf space.

Advertisers are looking for an advertising environment where they can reach their audience. However, reaching the right people is just not enough anymore. The environment needs to have quality in it. Brand safety issues are everyday problems for internet advertisers. Not to mention the worry about the unreal audiences: bots and crawlers create the costs but do not deliver the attention sought. Advertisers are still investing in digital space and advertising there but investments are not growing anymore.

Advertisers are now looking for value and quality for their advertising spend from somewhere else. That is why many global consumer product companies are looking at their marketing spending and thinking the retailers’ ecosystem might be a better place to spend it, according to Bryan Gildenberg from Kantar Consulting.

THE NEW OPPORTUNITY FOR RETAILERS

As a retailer you have the space, the audience and you might even have the network of screens in place. Is this enough for the demanding global advertisers in 2020’s?

The advertisers, especially in the retail world, are used to easily and effectively buy advertising through programmatic and the advertisers expect this to be the standard way.

The big question for retailers selling advertisement space is:

Are you offering your DOOH space in the programmatic ecosystem so that it is easy for the global advertisers to 1) find your space and audience and 2) buy advertisements from you?

According to Forrester, in-house media networks will become a vital piece of retailers’ business models and that is why Doohlabs exist. We create value out of advertising air space, help you to monetise your audiences and connect you to programmatic.

We help you to build a new network or — if you already have the screens, we connect you to existing programmatic ecosystems and start making profit in weeks. In either case, we help you to create a new revenue stream at the same time taking care of your CAPEX.

Contact us and we’ll provide you more insight by analysing your current situation on how we can help you to improve your profits.

Janne Lohvansuu
CEO
Doohlabs