dunnhumby, the global leader in Customer Data Science, announced today it has been named as a “large established player” in Forrester’s Now Tech: Retail Media Solutions, Q2 2021 report. dunnhumby’s retail media solution was included in both the buy-side solutions support brands, and sell-side solutions supports retailers’ functionality segments. Out of the 12 large established players cited in the report, only five – including dunnhumby – provide solutions for two out of the three segments reviewed.
Forrester’s Now Tech report provides an overview of 28 retail media solution providers across large, midsize and small market segments. Solution providers were analyzed based on market presence and functionality. “Large established players” are defined in part by having more than $99 million in annual category management revenue.
In this report, Forrester defines retail media solutions as “Technology or services offerings that help retailers build a media network to monetize their ecommerce sites and first-party data and/or help brands buy media from retail media networks and leverage first-party data.” The authors recommend that B2C marketers “use this report to understand the value they can expect from a retail media solutions provider and to select one based on size and functionality.”
“Grocery retail is changing fast. From customer behavior, to expectations and now the rapid adoption of eCommerce, retailers need to be nimble and aware that among all the changes there’s also opportunity,” said Julie Jeancolas, Global Head of Media & Customer Engagement Solutions for dunnhumby. “In the last few years, our grocery retail customers have been able to put their data to use and have generated an average of 1-2 times sales uplift, a 110% increase in the number of items sold, and a 40% increase in order value by implementing our Retail Media solutions across in-store, onsite, offsite and 1 to 1 loyalty channels.”
According to The Future of Retail Revenues Must Be Data Led, 85% of grocery retailers globally lack the capabilities, technology, people and processes to use insights to monetize their data and drive customer experience in the $5.9 trillion worldwide grocery retail market. The report also found that 96% of grocers who offer media opportunities for CPG suppliers on their apps saw an increase in revenue over the previous 12 months, with 40% seeing an increase of more than 10%.
dunnhumby’s customer data science powers the company’s Retail Media solutions and uses retailer transaction and loyalty data to improve the quality of customer experiences while also maximizing the effectiveness of Retail Media. dunnhumby’s Retail Media solutions create high intent audiences through predictive data science. With Retail Media, dunnhumby helps brands understand the full impact of their marketing activity on sales both online and offline.
The “Now Tech: Retail Media Solutions, Q2 2021 report ” is now available online for Forrester customers or for purchase here.