Wesfarmers’ Bunnings, Officeworks and Priceline retail chains plan to launch their own retail media businesses to help diversify revenue and improve profits.
Retail media describes the new sources of revenue retailers are unearthing by using their proprietary data to target shoppers with ads near the point of sale. The income comes from suppliers looking for a bigger in-store marketing presence.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
Sam Buckingham-Jones is the media and marketing reporter at The Australian Financial Review. Connect with Sam on Twitter.
