Footprints AI: Romania's Retail Media Market to Exceed 10 million Euros in 2024

The Romanian retail media market is expected to exceed 10 million euro in 2024, an increase of over 30% compared to the previous year, according to an analysis by Footprints AI, a Romanian technology company that develops and markets one of the most advanced retail media platforms in the world. In 2023, the retail media sector attracted investments of around 7.5 million euro in Romania.

The anticipated growth is reflected in the increasing number of retailers who are developing and consolidating their offerings, scaling their dedicated teams, and allocating investment budgets to scale up revenues.

Footprints AI develops a solution enabling dynamic targeting based on consumer behaviour in retail, offering a constant improvement of the shopping experience for consumers and at least three times more efficient monetization of advertising investments for brands compared to other platforms, including Google and Meta, and traditional media (radio, TV).

Last year, retail brands’ costs for Search Media and Social Media, for the same results (traffic or conversions), increased by about 34% – 36% compared to 2022. In the next five years, retail media is expected to represent about 25% of digital advertising budgets compared to Social Media and Search Media.

Footprints AI currently works with 15 retailers in their Retail Data Monetization processes and ended last year with revenues three times higher than in 2022. This year, the company aims to expand its portfolio, particularly with medium-sized retailers from various sectors, including food, automotive, financial services etc. The regions in focus for expansion are the USA, Western Europe, the Nordic Countries, the Baltic States, and MENA.

Footprints AI’s development plans in 2024 will be supported by budgeted investments of 500,000 euro, which will be directed towards marketing and sales operations supporting the company’s partnerships with UST, Microsoft, and others.

“This year, we will focus on launching the platform in new geographies and industries through and together with partners. In this direction, we have entered a global partnership with UST, the second-largest integrator of digital marketing solutions and services in the USA, marking an important step in our Go to Market strategy and opening multiple opportunities for expansion. This type of collaboration will offer retailers the opportunity to implement and scale their Data Monetization projects more quickly and efficiently”, says Dan MARC, founder and CEO, Footprints AI. With Footprints AI’s solution, retailers can launch their own retail media networks in just three months.

In 2023, Footprints AI launched, in three months, in partnership with Profi and alongside the Retail Media Hub (RMH) integrator, the most extensive retail media network in Romania. Brands that place advertising in this network can expect a monetization efficiency of 3-5 times higher compared to collaborations with other advertising networks, including new media platforms – Google or Meta – and traditional media – radio or TV.

Footprints AI’s solution is perfectly adapted for any industry and geography where retailers wish to use real-time data to know and target their audience based on behaviour.

Footprints AI’s technology is now widely accessible to all SMEs in Romania, thanks to the partnership between the company and the cash register provider Danubius. Together, Footprints AI and Danubius launched last year the retail media network with the broadest geographical coverage in Romania. This initiative allows all offline merchants, regardless of size and industry, to become players in the media market and diversify their revenues.

Investments in retail media will exceed budgets allocated to TV and CTV

Footprints AI is present, through clients and partnerships, in Romania, the Baltic States, UAE, and the USA. Last year, the company opened its first office in the USA, in Silicon Valley, and anticipates gaining its first client in the American market within the next two months.

In 2024, the USA will continue to be the largest retail media market in the world.

In the next 4-5 years, globally, investments in retail media will surpass those in TV and CTV (connected TV) advertising. This estimate takes into account the expansion of the potential customer base for retail media platforms, targeting medium-sized companies to complement their portfolios in various verticals, such as electronics and beauty, as well as in the financial sector.

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