Wovenmedia this week announced a partnership with Place Exchange to enable its retail clients to attract spending from brands looking to advertise programmatically on in-store digital screens.
In-store retail media has been rapidly growing alongside the burgeoning online retail media sector, with the proliferation of in-store digital screens that can deliver relevant messaging throughout the entire shopping experience from the entrance to the aisles to the checkout. Insider Intelligence reported that advertisers are projected to spend $45 billion on retail media in 2023, far surpassing connected TV at USD 27 billion. With in-store shopping accounting for 85 percent of total retail sales in the United States according to Statista, digital screens in stores are poised to attract a growing share of spend.
Wovenmedia, an in-store retail media specialist, maintains one of the largest in-store retail media networks in the U.S. The integration with Place Exchange will allow Wovenmedia’s existing and prospective retail clients to access the largest pool of demand from advertisers looking to leverage in-store screens as part of their omnichannel campaigns.
Jeff Karnes, Chief Operating Officer at Wovenmedia told us “We are excited to partner with an industry leader in Place Exchange at a time when retail media networks are exploding. Retailers and grocers are looking to expand advertising opportunities for their brands and partners in the store.”
Place Exchange’s patented technology seamlessly enables planning, targeting, execution, and measurement of Digital OOH networks on par with other programmatic channels, all within the leading DSP platforms.
Dave Etherington, Chief Commercial Officer at Place Exchange told us “This partnership will allow Wovenmedia’s clients to unlock a new revenue stream as their inventory will now be readily accessible in the leading programmatic buying platforms used by digital advertisers and agencies, and increase the opportunities for in-store media to be integrated into omnichannel marketing strategies.”
Wovenmedia is the only retail media solutions provider with a unique offering that combines powerful software with a full suite of services and a premium content library. Wovenmedia’s proven expertise at building and managing enterprise-scale media networks drives customer engagement across thousands of screens at retail. Wovenmedia powered networks reach 75 million monthly viewers across 150,000 screens helping to elevate the customer experience and generate in-store revenue.