The pandemic pushed the e-commerce and recommerce industries to greater heights due to the digital shift in consumers’ shopping behaviours. Thus, the rise of retail media became more evident in the marketing and advertising space — and has since evolved to meet the changing needs of consumers and brands alike.
In the new instalment of ‘What’s NEXT 2023: Interview Series’, MARKETECH APAC sat with JJ Eastwood, managing director at Carousell Media Group, to delve deeper into the retail media space. In the conversation, Eastwood provided his insights on how retail media has evolved, what’s next in advertising, and Carousell Group’s role in it.
Beginning the conversation, Eastwood shared that the company was made to make it easier for people to sell things faster and vice versa, for buyers to have a more seamless purchasing experience. To this, Carousell’s founders found the solution: bringing best-in-class features in e-commerce into the secondhand or recommerce space.
After almost a decade, Carousell Media Group was established – the marketplace’s advertising arm – which was targeted at connecting brands and advertisers to tens of millions of active users across Carousell Group’s family of brands.
Speaking about the role of retail media in the marketing and advertising industry, Eastwood said that the former’s number one goal is to help brands acquire new customers and increase sales.
To give an example, he said, “We want to show our consumers who come to Carousell this really nice blend between preloved items and brand new items and give them the choice. And we do that by showing the ads from our advertisers.” He also added that Carousell Media Group helps brands amplify their first-party data strategies.
But amidst all these, Eastwood said that there’s much more to look forward to from the company to trailblaze a continuous evolution in the retail media advertising space – which includes enhancing existing advertising products with machine learning capabilities.
Hear more about Carousell Media Group and retail media by watching the full interview HERE.
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