RSS
Retail media market in Romania to exceed 10 million euros in 2024
The retail media market in Romania will exceed 10 million euros in 2024, after 7.5 million euros last year, according to a specialist analysis published on Tuesday.
The growth of this market by more than 30%, year-on-year, is reflected in the growing number of retailers developing and consolidating their offerings, sizing their dedicated teams and allocating investment budgets to scale revenues, say Footprints AI experts, a Romanian technology company.
According to retail media revenue calculations, which do not include trade marketing budgets, in 2023, retail brands' costs with search media and social media for the same results (traffic or conversions) will have increased 34% to 36% compared to 2022. At this rate, retail media is estimated to reach a share of around 25% of digital advertising budgets over Social Media and Search Media in the next five years.
Internationally, retail media investments will exceed TV and CTV (Connected TV) budgets in the next 4-5 years, and the estimate takes into account the expanding potential customer base for retail media platforms, which target mid-sized companies to complement their portfolios in verticals as diverse as electronics and beauty, but also in the financial sector.
On the other hand, Footprints AI's development plans for this year will be supported by budgeted investments of 500,000 euros, which will be directed into marketing and sales operations supporting the company's partnerships with UST, Microsoft, etc.
Footprints AI is the Romanian technology start-up that develops and commercialises one of the world's most advanced retail media platforms, offering a simple and highly affordable way to convert anonymous traffic into profitable customers for retailers with a physical presence using advanced Artificial Intelligence technology.
In 2023, Footprints AI launched the largest retail media network in Romania in three months, in partnership with Profi and alongside the integrator Retail Media Hub (RMH).
Brands that place advertising in this network can expect 3-5 times more monetization efficiency compared to collaborations with other advertising networks, including new media platforms - Google or Meta - and traditional media - radio or TV.