IAB Australia has launched an e-learning program, foundations of retail media developed by IAB Australia’s Retail Media Working Group to provide the local market with the education on the fast-growing retail media sector.
This course comes as GroupM’s latest ‘This Year Next Year’ report predicted retail media will grow 8.3% in 2024. The report also forecasts that by 2028, retail media revenue is expected to exceed linear TV and CTV combined.
Foundations of Retail Media is a self-guided e-learning program that will take learners approximately two hours to complete. It will cover the historical context of retail media, an overview of the retail media ecosystem, the types, and formats of retail media, as well as targeting capabilities, use of data, the retail media value chain and future trends.
The program is offered free of charge to IAB member organisation and is suitable for agencies, retailers, marketers, and ad tech companies. It is the fifth module of IAB’s foundational industry training program, which also includes foundations of digital audio buying, foundations of programmatic DOOH buying, foundations of digital ad fraud and foundations of market mix modelling
Gai Le Roy, CEO of IAB Australia, said the Retail Media Work Group has been focused on providing the industry with education to help the market have a common understanding of the retail media sector.
“This new e-learning modules has been developed by the leading experts from a wide range of organisations and builds on the Retail Media Glossary of Terms released in September.”
In 2024 the Retail Media Working Group will be roll out additional education modules, a local retail measurement guide and another wave of the Retail Media State of the Nation study.
IAB Australia’s Retail Media Working Group includes representatives from Amazon, Cartology, Coles360, CitrusAd, Criteo, Endeavour Group, Google, Hatched, IPG Mediabrands, Microsoft, OMD, oOh!media, Pubmatic, The Trade Desk, Vudoo, Yahoo, Zenith Media, Zitcha.
See also: GroupM: Australian ad spend growth to remain flat with 0.9% lift in 2024