Cartology is adding more than 1,100 small and large format retail out-of-home screens to its shopper screen network across some of Australia’s most well-known retail destinations, in a new partnership with Vicinity Centres.
Beginning in 2024, the partnership will see Cartology install, maintain and manage over 1,100 digital small and large format advertising screens across 57 centres including Chadstone, Chatswood Chase, Emporium Melbourne and Queens Plaza, and regional centres across the country.
Cartology’s managing director Mike Tyquin said the new collaboration will build on the longstanding partnership between Vicinity and the Woolworths Group.
“Woolworths Supermarkets and BIG W stores play a critical role in the customer experience at many Vicinity centres and by extending the partnership to media, we add another dimension that connects brands with relevant customer audiences,” he said.
The collaboration sees Cartology’s total screen network grow to more than 5,300 digital screens.
The partnership between Cartology and Vicinity comes as retail media added more than $10 billion in revenue in 2023 according to GroupM’s latest ‘This Year Next Year’ report.
Despite being the smallest segment within digital, retail media revenue in 2023 is estimated to be $119.4 billion.
Looking ahead into 2024, retail media is forecasted to grow 8.3% and by 2028, retail media revenue is expected to exceed linear TV and CTV combined.
The report also forecasts that “Pure play” digital is expected to finish the year up 9.2%, better than the June forecast of 8.4% (excluding U.S. political advertising), excluding the digital extensions of traditional media such as CTV and digital out-of-home, but includes YouTube and TikTok.
Globally, GroupM is forecasting global ad spend growth to decelerate to 5.3% in 2024, showing an improvement in real terms, adjusting for inflation, yet still negative real growth.