‘Retail DOOH networks set to grow multi-fold’
By Rajiv Raghunath - November 29, 2021
Quividi CEO Laetitia Lim sees huge growth prospects for DOOH given that retail media is estimated to become a $100 billion business opportunity for retailers
Addressing the inaugural session of the virtual conference hosted by Quividi on ‘Unleashing the power of data’ on November 24, Laetitia Lim, CEO of Quividi stated that in-store environment is a dynamic place for brands, advertisers and retailers to engage shoppers at the moment of truth. Referring to a recent BCG report, Laetitia cited that retail media network is estimated to become a $100 billion high-margin annual revenue stream. Although much of that media is currently online, offline retail media is likely to expand multi-fold in the near future.
Laetitia pointed out that 85% of CPG brands are planning to invest more of their marketing dollars in retail media networks, which also opens up expansion avenues for DOOH networks in this space. She said that 40% of those brands are looking for personalised messaging on this media. That gives the retailers the opportunity to add on a robust revenue stream.
Quividi is extending solutions to help the retailers to monetise this opportunity of branding and promotion on the digital OOH media networks. The solution is a combine of content intelligence and audience consumer insights into one “easy to use, integrated platform”. Quividi’s engagement with US-based Starlite Media is a case in point on this application.
Referring to pDOOH, she said, “For us, real time data and pDOOH is a match made in heaven”. A recent study has forecasted that pDOOH will represent 16% of all DOOH business in the US, a trend will be seen in several other global markets, said Laetitia.