Best Buy expands advertising business and launches Best Buy Ads

2022-11-21
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Author:Zheng Yang
Source: ennews

becausePeople arescience and technologyAnd electronicsAspectIncreased expenditureBest BuyOf sales in the past yearwithina surgeNow, the retailer is betting more on another source of revenue——advertisementupper

 

Best Buy launchesofBest Buy Ads,It is an updated version of its internal media business,Designed toProvide more services for brands that want to connect with shoppers.according toeMarketerestimate, toIn 2022companyadvertisementbusinessWill grow31.4%, reaching USD 41.37 billion.

 

Best BuyPresident of AdvertisingKeith Bryan saidcompanyEvery year with customers3 billion interactions,thisbyhisProvides rich databaseThese data help to connect brands with consumers.

 

Influenced by the epidemic in the past two yearsThe surge of e-commercealsobyBest BuyProvides information about shoppers' preferencesvaluableInformation.Last quarter,Online sales accounted forBest Buy in AmericaNearly one third of the total revenue of $11 billion.

 

althoughIn the first three quarters of 2021,Best Buyin the U.S.market's online sales declined year-on-year12.5% to US $10.5 billion.howeverAndCompared with the same period in 2019,hisstayE-commerce in the first three quarters of 2020 increased by 191.4%, reaching 12 billion US dollars.

 

exceptItselfIn addition to media attributes,Best BuyYou can also place advertisements on the websites of external publishersBrands that want to cooperate with retailers for advertising do not need to sell their products or services through the company.

 

With the development of network platformThe review of data privacy is becoming more and more strict, and the third partyCookie'sExtinctionFor retail media networksofDevelopment creates conditionsincludeCVSTargetandInstacartIncluding retailersallI saw itOf whichopportunity

 

KrogerSubordinateRetail MediaPrecision Marketing was launched in October 2017,hisFor the CompanybringHasOperating profit of US $150 millionRevenue grew by 135% in 2020.

 

Wal Mart Media GroupLast yearRenamedWalmart Connect, and partnered with the advertising technology company The Trade Desk to expand its business scope to retailersinherentOutside of the channel.

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