IAB Europe releases retail media measurement standards

The Interactive Promoting Bureau (IAB) Europe has published its measurement standards for retail media in Europe. This offers brands a framework to measure the effectiveness of their digital promoting campaigns. It’s a primary step in IAB Europe’s plans to create industry standards for retail media.

IAB Europe is a world association that represents the digital promoting and marketing ecosystem. Media, technology, marketing firms and other international IAB’s are members of the association. It goals to advertise industry cooperation and supply frameworks and industry standards.

Ads on online stores and marketplaces

Retail media is a comparatively recent phenomenon. It entails available promoting space at retailers. Consider ads in search results, on overview pages and product groups. These ads are shown on the web sites of online stores or in shopping apps.

Amazon generated 15 billion dollars by selling promoting spaces within the last quarter of 2023.

One other example are ads on online marketplaces. Amazon is already actively selling ad space, in Q4 last yr it generated almost 15 billion dollars by selling those spaces. This was a rise of 27 percent in comparison with a yr before.

Workgroup began last summer

Last summer, IAB Europe established a workgroup that can create standards for this industry. That is an effort to professionalize the market. The association has now released its measurement standards. It will give advertisers more insight into what the investment into the promoting campaign is getting them. Their media agency will receive data on reach, attribution and other campaign insights.

Metrics covered

To this point, the measurement standards cover primary media metrics (like impressions and viewability) to be sure that digital retail media ads follow the identical standards as other digital ads. It also covers attribution metrics, to ensure that brands can compare their promoting investments with a typical lookback window and iROAS definition.

Some standards for extra insights have also been set. Nevertheless, the association still wants to incorporate more and can proceed working on a broader set of standards. It already has released a roadmap for its plans in the remaining of this yr.

‘Crucial media solution’

“Within the advancing landscape of digital promoting, Retail Media emerges as a vital media solution, yet its potential was hindered by challenges akin to the shortage of standardization. In response to IAB Europe research, only half of buyers currently recognize the efficiencies of Retail Media and seek consistent measurement and standards”, said Jessica Wegner, VP Latest Business & Retail Media at Douglas Marketing Solutions.

‘Moving beyond traditional KPIs will unlock retail media’s true efficiency.’

“To unleash the complete power of Retail Media, addressing this critical gap through standardized measurement methods is paramount. Moving beyond traditional KPIs like ROAS or CPC, the concentrate on standardization, particularly in media and attribution measurement, holds the important thing to unlocking its true efficiency.”

‘Fostering transparency’

“With the publication of the primary set of European Retail Media Measurement Standards, we affirm our dedication and commitment to providing industry stakeholders with a sturdy framework that ensures consistency across the ecosystem and enables Retail Media to thrive. These standards not only establish much-needed uniform metrics but additionally foster transparency, making room for greater innovation and investment on this space”, said Townsend Feehan, CEO of IAB Europe.