Homeplus is pushing ahead with its Retail Media Network (RMN) business in earnest, seeking to secure competitiveness in the digital advertising market. The company announced on the 30th that it has signed a service contract with Moloco , a machine learning-based advertising solution company, for its retail media advertising business.
Retail media networks are a structure that uses digital platforms (apps, websites, offline stores, etc.) owned by distributors to execute advertisements and generate revenue through this. It is gaining attention because advertisers can execute targeted advertisements according to the time of the consumer’s purchase decision, and distributors can realize customized marketing for customers in addition to advertising revenue.
Homeplus plans to build a customized advertising platform that strengthens the connection between its affiliated brands and consumers based on data from approximately 11 million My Homeplus members. Through this, the company plans to foster RMN as a new revenue model and accelerate its digital transformation strategy.
Meanwhile, Moloco, founded in 2013 by machine learning experts from Google and Amazon, provides AI-based advertising automation and monetization solutions. It supports advertising optimization and monetization for global commerce companies and app publishers, and currently has branches in 13 countries, including the U.S., Korea, Japan, and Singapore.
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