Future of retail media: disrupting the consumer purchase funnel
The sales funnel has been a cornerstone of marketing strategy since its inception in 1898. But transactions are becoming blurred, writes Jack Myers, media ecologist and founder, MediaVillage.
As technology transforms and enables the customers’ purchase journey, the concept of “top of funnel” awareness building and “bottom of funnel” transactions is becoming blurred, causing somewhat of a collapse.
Customers have information when and as they need it and, thanks to search, social and digital media in its entirety, they’re moving through the funnel faster than ever before.
With the rapid growth of online options accelerated over the past few years, traditional promotion and advertising approaches have been disrupted, requiring rapid response and innovation from marketers.
