In the latest episode of IMO, Brianna Mersey, Media.Monks Associate Director of Data, sat down with Marc Laurent-Atthalin, VP Data & Digital Media at Reitmans, and Zamira Khamidova, Director of Data North America at Media.Monks, to discuss what it took to shift the traditional retail business into a modern data stack capable of enabling marketing use cases. Throughout the conversation, they shared insight into how to set your data foundation up for success, the importance of aligning stakeholders across the business, and the need for a “test and learn” mindset. If you missed the episode, we’ve got you covered—watch it in full below.

Reitmans was able to adopt such advanced analytic methods because the team had already established a strong foundation of data, making it easy to implement models that were more reactive to customer behavior and transaction histories. Marc and Zamira offered advice on how to select which data sources to start with (opt for rich, actionable data sets that give you lots to work with) and how to ensure that data is clean and reliable.

Marc also shared the importance of aligning with internal stakeholders to gain buy-in and chart the path forward. “It’s important to build a clear vision and strategy initially and communicate it properly, and then use data to build your case,” Marc said. By tying data objectives with business outcomes, his team was able to prioritize use cases and deliver results quickly, then test and iterate from there. For example, building a 360-degree view of the customer provided insights to drive conversion, fulfilling the key business need to propel growth.

When it comes to initiatives like these, treating your partner as an extension of your team is key. “Collaboration is hugely important,” Zamira said. “When it comes to data, there are lots of questions on the context—especially with historical data, so it was important for us to have two-way communication and hear back on any questions we had.” This level of regular communication also helps with further collaboration as the engagement evolves. 

So, where is Reitmans headed next? You’ll have to watch above to find out—including the brand’s plans around Web3, which is set to transform the brand-customer relationship even further. And if you’re eager for more insights from Media.Monks subject matter experts and our partners, mark your calendar for the next episode of IMO later this month.

Retail media networks are when retailers establish an advertising platform on their own digital platforms—kind of like in-store advertising, but in digital format. This creates a new revenue stream for retailers by monetizing their first-party data through the launch of ad products. Though all of this is conceptually clear—every retailer wants to increase its revenues—the market is still reluctant to implement this solution. Retail companies either rely on selling their products and services rather than tapping into ad monetization, or they lack the right infrastructure and skills to build and run retail media networks. For most retailers, the latter is the issue. Some stick to what they know, whereas others outsource the work.

The Business.Monks—Media.Monks’ business consulting category—focus on uniting strategy with experimentation, value creation with performance, and consulting methodologies with agency crafting. Given the high potential, it’s time to start building your retail media network, here’s why.

5 reasons why retailers should set up their retail media network.

RMN provides a new and very profitable revenue stream. “We’re talking about a new revenue stream with a margin between 60-90%, so it’s huge,” says Cacau Lima, Business Consulting Manager for the Business.Monks in São Paulo. Just look at Amazon Ads—in 2021, it reached over $31b in revenue, which is nearly 5% of Amazon’s total revenue. Additionally, RMN has a huge impact on the bottom line, with Onsite Campaigns yielding up to 90% of EBITDA.  

Advertisers want clear-cut solutions. Digital marketing is all about measuring the impact in sales. Though brands can measure clicks and impressions, the bottom line impact has always been estimated. With RMN, however, advertisers have the ability to measure bottom line conversion and optimize their media spend based on the increase in sales.

This solution is growing really fast. Today, $1 in every $6 is spent on media networks, and in about two years, it is projected to represent 20% of all digital media spend, according to Insider Intelligence. Currently, 82% of CPGs have already invested in Amazon Ads, while only 39% has invested in the second biggest retailer. This shows us that there are huge opportunities to increase investments in RMN. 

It’s all about the data. Since third-party cookies have crumbled, RMN is the sweet treat that both retailers and advertisers need. Through ad monetization with RMN, retailers can gain new insights into their customers’ behavior and interests, elevate their first-party data strategy, and engage audiences by giving relevant recommendations that suit their needs. As for advertisers, they can access the retailer’s precious first-party data and gather important information. 

We’re in the era of Everywhere Commerce. As CX and brand experiences become ever bigger and better, it’s crucial for advertisers to have control over how to engage with their consumers in every digital touchpoint. RMN ultimately creates the space and opportunities for advertisers to do so. On top of that, this business solution is beneficial to retailers, advertisers and consumers alike. “Between brand awareness and conversion, there’s typically a messy middle. RMN creates a one-stop shop, allowing customers to find a brand, get to know its history, and then convert in one go,” says Galera. 

Translating skills into solutions.

“In order to solve complex problems, we need to be able to speak different languages—that of media, social, data, and so on. So, we’ve built a team that can speak all these languages by mixing experts from different professional fields, who together give shape to an unbelievable diversity of mindset and innovative thinking,” says Helena Curado, VP Business Consulting LATAM, Media.Monks. 

To secure future success in this space, businesses—both retailers and brands—need to adapt to the ever-changing landscapes of commerce and consumer behavior, and it’s best to do it sooner than later. Taking the leap can be scary, but just take a look at the numbers—they show it will be worth it.

Think of, let’s say, a multinational holding company with about six subsidiaries in retail and banking, operating in seven countries with physical stores and both website and app platforms. Not all subsidiaries are present everywhere, and not all platforms use the same language. Now imagine wanting to unify all of that into a scalable system that provides updated, accurate information about your consumers—processed through reliable metrics that allow you to get a better grasp of their needs and interests. Not exactly child’s play, is it?

Our partners at Falabella, one of the largest retail companies in Latin America, were faced with that exact challenge in their ambition to develop their technological capabilities and strengthen their logistics to support the rapid growth of their online sales. The ultimate goal was simple: to better serve customers through personalized solutions and increase the company’s overall efficiency. The path to get there, though, required considerable expertise in the use and implementation of data. 

Growing Its Technological Muscles

Falabella’s flagship department stores, as well as its shopping centers and supermarkets, have crowned it the largest retail company in Chile, and one of the most important ones in Latin America. But while this long-standing brand was built on the foundations of a traditional physical store, the importance of having a strong online presence has never eluded them. 

Today, Falabella is in pursuit of becoming one of the region’s top ecommerce players. In other words, to take the relevance it’s built in the physical world and replicate it in the digital space. But to become the go-to ecommerce platform for a variety of needs, it had to integrate its four pre-existing platforms and their data into a single marketplace and a measuring system.

Our Head of Data Growth, South Cone, Walter Rebollo, was there to support them on that journey. “We put together a dedicated team that worked side by side with the brand’s, serving as a technological muscle,“ he says.

For a company of this magnitude, any technological miscommunication between properties could hinder the accuracy of their data analysis, which explains the need for a foundational transformation. “Our team of analytics experts, consultants and engineers helped the brand design measurement plans that were aligned throughout the organization. They developed dashboards, documentation, manuals and provided technical support for their implementations,” adds Rebollo.  

It’s More Than Just Statistics

In addition to serving as the technological muscle, the team introduced the brand to a more analytical and data-driven mindset. After all, being cognizant of the potential that lies in one’s first-party data is the first step towards building a sharpened customer experience. And it’s not about playing with statistics to see what sticks. Think of first-party data as a source of truth that illustrates our customers’ personalities and behaviors; a roadmap of sorts to support your audience across the entire customer journey.

Javier Fernández Morales, Falabella’s Regional Head of Performance & Growth, puts it plainly, “As one of the sites with the highest traffic in the region, our first-party data is a key asset in order to provide a better shopping and browsing experience.

In retail, consumers expect an omnichannel experience that’s tailored to them. They want to be able to switch between app, web and devices across the purchase journey from start to finish. We designed the analytics framework to capture that information, creating a setup that eased the understanding of how audiences behave and what they are interested in. 

“The digital transformation of Falabella encompassed a bunch of steps that led to the final goal,” explains Gastón Fossati, our VP of Data Growth SPLA. “For example, the implementation of the web ecommerce funnel for all countries, assessments to define the attribution model to be used, baking in machine learning for audience prediction, the implementation of enhanced conversions in Google Analytics and a monthly consulting service to work on the Firebase project for the app, among other things.” 

An Empowered Team Leads to Fast Decision-Making

Beyond providing a seamless customer experience, having a single measurement system aligned throughout the organization can be as helpful internally as it is for customer-facing interactions. Think about it: refined measurement leads to effective automated models, which can then save the team time and energy. “From a backend standpoint, having a better data management system has made it possible for us to develop a well-executed product scalability model,” says Fernández Morales. By allowing marketing technology tools to be executed with greater agility, we empower specialists to make better decisions, faster.

That said, the development of an integrated measurement system from the ground up is not something that happens overnight. In this year-long project—which stemmed from a three-year partnership—both teams worked in lockstep to create a measurement strategy according to each unit’s goals, integrate Google Analytics and train the brand’s team to act upon the information. “Our approach is one of democratizing knowledge, so we always make sure we’re not just delivering but also teaching our partners how and why we do what we do,” says Rebollo. 

Throughout that process, both teams blended with one another to the point where there was almost no distinction between each. “I find it truly remarkable that we’ve created a single team with not only a common goal but also a shared spirit,” says Lorena Alva Salazar, Head of Growth & Martech at Falabella.

Today, they can bank not only on a solid, unified team, but also on reliable metrics that are immediately available for quick decision-making. The phase-out of third-party cookies poses no threat, and they are in fact better prepared to forge a closer relationship with consumers. First, an integrated framework and multiple data collection points provide invaluable information on their consumers. And second, the brand can now empower users to choose how much information they want to share, thus safeguarding their privacy.

A consumer journey study is research conducted through direct interaction with or observations of your target consumers by way of interviews, field studies, focus groups and other methods that can help you better understand your customer’s path to purchase. Beginning with initial purchase inspiration to the final stages of product purchase and post-purchase product usage, a well-crafted study will illuminate purchase trigger behavior and influential touchpoints, and help guide the marketing team with actionable insights that can better influence those touchpoints along that path. 

The study can also help identify gaps in the consumer purchase funnel to help marketing turn product considerers into product buyers. For example, you might ask participants in your study why they decided to purchase a competitor’s product instead of your own to identify the main purchase barriers for your product and uncover potential solutions to overcoming these barriers.

Ready to initiate a consumer journey study? Here are some things to consider.

The Dos (and Don’ts) of Conducting a Study

The questions that you and your team decide to ask in a consumer journey study should help you better understand how to connect with your target consumer and pave the way for an ongoing relationship. Many common questions focus on purchase triggers (i.e. the reasons behind deciding to purchase a new item), different shopping channels (i.e. in-store and online channels), and satisfaction with the newly-purchased product. Oftentimes, it will also be important to gather demographic data about your key shopping segment (such as age, gender, parental status and household income) to better understand who is actually purchasing your products.



Let’s look at some best practices for launching and executing a consumer purchase journey study. These best practices are based on our own experience working with our clients and are designed to help you navigate the complex consumer journey landscape.



Focus on primary decision makers. In many households, it’s common for one or two people to be in charge of purchase decisions, such as a parent on behalf of his or her children. In this scenario, the parent would be considered the primary decision maker, not the children. In your consumer purchase journey study, it’s important to ask survey respondents about their role in the purchase decision-making process because you want to understand the purchase triggers and most influential shopping touchpoints of those who will ultimately decide whether or not to purchase your product. 

Consider long-term versus short-term purchase behaviors. The COVID-19 pandemic rapidly reshaped the retail landscape and transformed many consumers' typical purchase behaviors. For example, according to eMarketer, “click and collect” sales (i.e. sales of products purchased online and picked up in-store) increased 106.9% in 2020. However, not all of these COVID-driven changes are likely to stick, and it’s important to determine what behaviors are likely long-term versus short-term. For example, you can ask survey respondents in your study how they anticipate purchasing a product or service a year from now and compare that to how they have recently purchased a product or service. 

Understand the attributes and behaviors of those who considered, but did not purchase, your product. In your research, you will likely identify a few consumers who considered your product but ultimately did not purchase it. What happened? Why did the shopper decide to buy a competitor’s product? By understanding the attributes and behaviors of those who considered but ultimately did not purchase your product, you can identify potential product features or capabilities that might convert some of these considerers into purchasers. 

Conduct your consumer purchase journey study on a recurring basis. As the retail landscape continues to evolve, there will always be new channels and influential shopping touchpoints that emerge, such as livestream video shopping channels on Amazon and the recent emergence of in-app shopping on TikTok. Depending on your team’s resources and capabilities, consider running a consumer purchase journey study on an annual or semi-annual basis in order to capture the ongoing changes in your target consumer’s purchase journey. 

Partner with retailers and manufacturers to implement consumer journey findings at the retail level. Given that global eCommerce retail sales grew 27.6% while overall retail sales declined 3.0% in 2020, it’s no surprise that the websites of retailers and manufacturers are some of the most important and influential shopping touchpoints. Consumers turn to these channels to learn about products, read customer reviews and compare items. Once you have completed your consumer purchase journey study, consider sharing these insights with your key retail partners in order to implement these best practices at the retail point of sale.

By implementing these best practices in your next consumer journey study, you’ll strengthen your brand or product’s relationship with your target shopper and identify new ways to connect with your key consumers. Instead of being on a “road to nowhere,” you’ll have a clear roadmap of your intended consumer’s path to purchase.

Considering a consumer journey study? Our team of experts can help.