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CPG companies feel confident that AI will play a role in retail media
Cooler Screens commissioned a poll of nearly 200 CPG advertisers on their perception of AI
Supermarket News Staff
March 6, 2024
2 Min Read
Cooler Screens commissioned a poll of nearly 200 CPG advertisers on their perception of AI and the role it will play in retail media networks, both online and in-store.GETTY IMAGES
Cooler Screens has published a new survey exploring CPG advertiser’s attitude toward AI and retail media. The study, first released at Cooler Screen’s AI-centered in-store retail media conference, Innovation Summit, aimed to answer a question: As brands invest in retail media, how might another hot investment area, AI, impact and optimize their retail media investments?
To better understand that, the company commissioned a poll of nearly 200 CPG advertisers on their perception of AI and the role it will play in retail media networks, both online and in-store. The study, conducted between Jan.1-5, had the following findings:
AI’s impact on retail media networks
When asked how AI might impact the value of retail media networks for CPG advertising, the majority of respondents said it will be “significant”:
53% of respondents believe AI will significantly enhance targeting and ad relevance
37% feel AI's impact will be moderate, improving some aspects but not transformative
9% think traditional methods will remain dominant or AI adoption will be slow
1% are unsure about AI's role at this stage
AI’s role in analyzing in-store shopping behavior
In total, 89% of respondents said that AI will play a role in analyzing and leveraging in-store shopping behavior. The full breakdown is as follows:
45% say AI will assist, but human analysis will remain primary
44% believe AI will be essential for real-time data analysis and shopper insights
10% consider in-store data too complex for current AI capabilities
1% have no opinion on AI's effectiveness in this context
AI in customization and personalization
When asked how AI might affect the customization and personalization of retail media for shoppers, more than half said it would deliver “highly personalized” experiences:
52% predict AI will enable highly personalized shopper experiences
34% foresee some improvement in personalization, but challenges remain
11% think personalization through AI is overrated with limited use
4% need more information to assess AI's role
AI’s significance in integrating online and offline data
AI will be key to bringing together the retail industry’s fragmented online and offline datasets, said respondents:
54% view AI as crucial for seamless integration of online and offline data
29% find AI helpful but not essential, as other tools can also manage data integration
15% have privacy concerns about AI integration
2% are indifferent or unsure about AI's impact
AI’s effect on efficiency and ROI
When asked if AI could increase the efficiency and ROI of retail media campaigns, 84% anticipated a positive effect, with the full breakdown being:
45% anticipate AI will significantly boost efficiency and ROI
39% expect a moderate improvement in efficiency, with uncertain ROI gains
13% believe there will be minimal effect on efficiency and ROI gains are overstated
2% are uncertain about AI's impact.
AI influencing retail media for CPG advertisers
Respondents were split on whether or not AI would usher in “disruptive innovation” or be part of a more “gradual evolution”:
42% believe disruptive innovation in AI will lead to innovative strategies
41% see AI as part of gradual, not radical, changes
14% feel AI's role is minor compared to other technological advances
2% find it difficult to predict AI's influence on future trends
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