Comment: STRATACACHE CEO and Founder Chris Riegel talks about new digital media opportunities
Retailers can offer advertisers something illusory, yet highly profitable: accurate, attributable, and immediately actionable data.
Over $140 billion will be spent on digital retail advertising worldwide this year.
Amazon appears to be making more money from its advertising services than from fulfilling its products. Retail media has been hailed by many as a gold rush, and looking at these numbers it's easy to see why.
Many retailers are expanding their operations to increase their opportunities to reach key customer demographics (and more importantly, key new revenue streams) through retail media advertising.
Looking at this gold rush, one might argue that the stores themselves are a frontier yet to be fully explored and mined: Online growth has plateaued since the end of the pandemic, with 93% of retail spending still being spent in brick-and-mortar stores.
In-store services allow retailers to offer advertisers something that is elusive and highly profitable: accurate, attributable and actionable data on what drives shoppers to convert and the effectiveness of their advertising spend.
Amazon partners with Grubhub and Aramark College Hospitality to open newest JWT store in college space
Amazon announced that it will open its 34th store equipped with Just Walk Out technology on a college campus.
In a LinkedIn post, Madison (Kelly) DeFranco, senior technical business development for Just Walk Out technology at Amazon Web Services (AWS), said, “We're excited to open University of Virginia's Gaston's Market, powered by Amazon Just Walk Out technology, in the beautiful new Gaston Hall, just in time to welcome students.”
She added, “We've partnered with our friends at Grubhub and Aramark Collegiate Hospitality to open our 34th location on a college campus. This effort took a whole village, and we're so grateful to the AWS team and our partners for their hard work in getting this location open.”
Damien Corcoran ends his term as interim COO at food waste technology specialist Gander
Damien Corcoran has left food waste technology company Gander, where he has served as chief operating officer for the past eight months.
In a LinkedIn post, he said: “The time has come to terminate my contract with Gander as interim COO.”
“I am incredibly proud of what the team has accomplished over the last seven months – evolving our expertise and establishing a strategy for channel integration partnerships.”
He added: “Gander's mission to help people find the perfect food at a discount while preventing food waste at retail embodies a higher purpose. I wish our teams in the Isle of Man, Australia and Brazil the best as they continue the momentum we've built together.”
“I will continue to support Gander as a brand advocate and work with our partners to expand our mission of preventing waste in retail.”
Corcoran's career also includes roles as retail director for Sainsbury's and vice president of international for Whole Foods Market.
He now takes up a new role as Chair of the Isle of Man Chamber of Commerce’s Charity Forum.
Tom Adams leaves Cash App to become CTO of Dutch payments company Adyen
Tom Adams will join Adyen as chief technology officer (CTO), succeeding Alexander Massey, whose term ends later this year after a decade building the fintech company.
“As we look to the opportunities ahead, we see that we are in a key position to help solve the ongoing complexities we see in the payments industry,” said Pieter van der Does, co-founder and co-CEO of Adyen.
“Tom has extensive experience building and leading global engineering organizations and driving product innovation at scale, and we look forward to his contributions as we further advance the benefits of our single platform.”
Adams joins from Block's consumer business, Cash App, where he served as head of engineering for four years.
As CTO, he will oversee the strategic and technical vision for Adyen's single platform across payments, data and financial products.
Headless, composable commerce platform specialist Fabric appoints new CRO and CCO
Fabric announced the appointments of Matt Kaminski as chief revenue officer and Jay Topper as chief customer officer.
The company's headless, configurable commerce platform, applications and APIs support merchandisers, operators and developers within brands and retailers in creating more modern commerce experiences.
Customers include Chico's, Debenhams, Pier1 Imports and Crate&Barrel.
Kaminski comes to Fabric from Power Factors where he served as chief sales officer, and prior to that spent eight years at Salesforce, most recently as vice president of enterprise sales.
Topper previously worked at Chico's FAS, where he most recently served as Chief Digital Officer, and at FTD, where he served as Chief Digital Officer and EVP Chief Technology Officer.
The two will strengthen Fabric's executive team alongside Christelle Flahaugh, who was appointed EVP and chief marketing officer in November.
Prior to joining Fabric, he served as SVP of Brand, Growth and Experience at Automation Anywhere, Head of Marketing at FortressIQ and Chief Marketing Officer at Host Analytics.
