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Harnessing the In-Store Media Megatrend
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07/14/2023
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Harnessing the In-Store Media Megatrend

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Dilini Fernando, Vice President of Marketing, Freeosk
Dilini Fernando, Vice President of Marketing, Freeosk

Andrew Lipsman of Insider Intelligence and eMarketer recently identified the digitization of the physical store as one of retail’s next megatrends. Insider Intelligence, in fact, calls it a significant media opportunity for brands, and predicts that in-store retail media spending in the US will reach $19 billion in 2023 — up from $8.4 billion in 2018.1 Yet only 9% of retailers offer in-store digital media, representing a large opportunity for expansion and brand impact.2

Here, Dilini Fernando VP, Marketing of the multisensory instore retail media company Freeosk, explains how their offering differs from most retail media solutions and describes how the company can help Brands attract new-to-brand customers for incremental growth.

Progressive Grocer: What makes in-store media unique?

Dilini Fernando: There are seven key differentiators:

  1. REACH. In-store audiences are 70% larger than online audiences.3 While many shoppers migrated to online shopping during the pandemic, that trend has slowed as 73% of shoppers say they still prefer to purchase a product in-store.4 Given more than 85% of all US retail sales happen in physical stores,5 it is critical to promote along the path to purchase to reach this large base of shoppers where and when they are shopping.
     
  2. CONTEXT + CONTENT. Brands already know the power of the right message at the right time, and in store video has been a popular tactic to educate and inspire consumers. Freeosk kiosks takes this opportunity to the next level. Not only does the in-store digital kiosk create a consistent and brand-safe environment it also can seamlessly load an offer via retailer loyalty cards to influence shopper behavior as the message is communicated.
     
  3. MERCHANDISING. Merchandising can expand a brand’s footprint beyond the category aisle. Each Freeosk unit acts as secondary display/merchandising location to reach shoppers in high traffic areas early in the trip when they are most likely to convert.
     
  4. IMPULSE SALES. The fact is, 82% of shoppers make purchasing decisions in-store.6 In-Store retail media — that includes digital, merchandising, and offers — can have a compounding effect to increase revenues. While the intention of the trip influences planned items on a shopping list, timely in-store brand exposure can lead to impulse sales and larger baskets from the simple act of discovering an unplanned, yet desirable items.
     
  5. TRIAL. Getting brands in hands remains a powerful tactic to help risk-averse shoppers get to know a brand or product category. The Freeosk sampling activations become a critical touchpoint (and often a moment of truth) that lowers barriers to entry for shoppers, on their terms, through on-demand automation. (This is not your parent’s sampling method).
     
  6. INCREMENTALITY. One of the most remarkable impacts of effective in-store retail media is the ability to drive incremental shoppers to new categories. Freeosk’s opt-in experience is focused on bringing the product aisle to the shopper. This simple and approachable interaction has a proven track record of driving new to brand and new to category households.
     
  7. SAMPLING & MULTISENSORY BRAND ENGAGEMENT. Studies have shown that multisensory engagement leads to more memorable experiences and more successful, longerlasting, brand engagement. US shoppers were most likely to frequently notice brand displays on shelves (43%), followed by video ads on TV screens (37%).7 Freeosk’s discovery platform activates sight, sound, taste, and touch for a shopper in one simple solution, designed for the next evolution of retail media.
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PG: How does Freeosk help retailers tap in-store retail media’s potential?

DF: We enable brands to activate identifiable shopper discovery at scale across our nationwide network of media kiosks. The free to-shopper kiosk experience offers in-store shelf merchandising, video ads on kiosk screens, automated sampling, and content. Those things combined attract new customers to products and categories. By harnessing first-party data and consumer intent signals, Freeosk translates in-store moments into privacy-protected data brands can use to build engagement, increase sales, and drive ROI. Results show our campaigns are delivering 70% new-to-brand shoppers, driving incremental sales!

1 Insider Intelligence. (2021, June 29). In-Store Retail Media 2023.
https://www.insiderintelligence.com/content/in-store-retail-media-2023

2 Merkle’s 2022 Retail Media Research Report
3 Placer.ai and Comscore Media Metrix Multi-Platform data
4 blog.hubspot.com/marketing/shopping-trends
5 US Census Bureau, 1st Quarter 2023 Report
6 marketingdive.com/spons/the-impact-of-in-store-signage-on- consumerpurchase-decisions/605794
7 July 2022 Path to Purchase Institute study

TO ACTIVATE NATIONWIDE FREEOSK CAMPAIGNS, CONTACT Dilini Fernando, 401-862-4906 or Dilini.Fernando@thefreeosk. com. Follow Freeosk on LinkedIn or visit www.freeoskinc.com.