Suppliers to fund point-of-sale promos. 

 

Officeworks is part of plan by parent Wesfarmers to launch its own retail media businesses to help diversify revenue and improve profits.

 

According to a report in the Australian Financial Review, retail media describes the new sources of revenue retailers are unearthing by using their proprietary data to target shoppers with ads near the point-of-sale. The income comes from suppliers looking for a bigger in-store marketing presence.

 

Bunnings is reportedly seeking a technology partner for its planned retail media business. It already generates an estimated $150 million in trade marketing revenue annually. 

 

Officeworks and pharmacy chain Priceline also have plans for retail media, according to the AFR.