Grocery Leaders cite “Media Monetization” as their Most Important Growth Opportunity, but say “Lack of Expertise” is Holding them Back

Grocery Doppio survey of over 200 senior Grocery and CPG executives reveals new competitive pressures and strategies at Groceryshop, 2022.

Grocery Doppio, a free, independent source of grocery insights and data operated by next-generation industry insights firm Incisiv and leading digital commerce and fulfillment solutions provider Wynshop, unveiled its State of Digital Grocery: The Media Monetization Opportunity report at Groceryshop.

The report, based on recent, direct polling of 161 senior grocery executives and 67 senior CPG executives, revealed fresh new insights about the state of grocery media monetization.

Key findings from the State of Digital Grocery: The Media Monetization Opportunity include:

• Media monetization is a priority for grocers
  • 86% of grocers agree that they need additional revenue streams to make their digital operations profitable
  • 78% regard media monetization as an important growth opportunity, ahead of prepared food/deli delivery (61%) and subscription services (34%)
  • 63% are either actively evaluating or already integrating with media monetization platforms
• Third-party platforms represent a significant competitive threat
  • 83% of grocers view the media platforms of third-party delivery partners as a competitive threat
  • 69% fear losing touch with their customers as a result of third-party platforms
• CPG media dollars are limited, and the way to win them over is clear
  • 67% of CPG executives say that they will consolidate their media spending in the next 24 months
  • Only 11% report significant additional budget to spend on media in 2023
  • 88% of CPG execs want greater accuracy in measuring the results of their media marketing spend
• Lack of expertise is the main thing holding grocers back
  
  • only 13% of grocery executives expressed confidence that they can currently build media monetization platforms to rival those of the large third-party platforms
  • 96% of VP+ level grocery executives cited “lack of talent” as their biggest challenge to developing an attractive media monetization platform for their CPG partners

Marketing Technology News:  Liveplex Launches Web 3.0 Ecosystem for Loyalty and Rewards

“The market is speaking very clearly on this one” said Gaurav Pant, Chief Insights Officer of both Incisiv and Grocery Doppio. “CPG media buyers want a better solution and grocers know that media monetization is crucial to their strategic future and growth, but grocers are still struggling to catch up with the capabilities of third-party platforms.”

“As online sales become a greater share of each grocery retailer’s business, the opportunity to monetize their audience at the point of purchase is also growing. This is a $2-4 billion opportunity for grocers; Easy and immediate access to a media monetization network and resources is critical to improving the grocer’s bottom line,” said Charlie Kaplan, Chief Strategy Officer of Wynshop.

Grocery Doppio is a free, independent source of grocery industry data and insights. Every month it releases research-driven industry reports, fact-based observations, inspiring perspectives, and performance benchmarks designed to help grocers jumpstart, accelerate, and sustain digital growth profitably.

Marketing Technology News: MarTech Interview with Tom Libretto, Chief Marketing Officer at Workhuman