Buy now pay later finance group Afterpay is launching its own retail media network in partnership with Yahoo DSP (Demand-Side Platform).
IPG, GroupM, Omnicom and Dentsu are part of Afterpay Media Network's initial rollout in Australia, which will allow advertisers to reach shoppers across the web and in-store.
The network in Australia, accessing Afterpay’s unique insights to connect with their target audiences, will initially focus on: Electronics, Fashion, Travel, Entertainment and Retail.
Morgan Stanley forecasts retail media spending in Australia on in-house/owned ad platforms to grow to $2.8 billion in 2027 from around $1 billion in 2022.
Afterpay Australia in 2023 helped facilitate $13.4 billion in total sales and connected 129,000 merchants with 3.5 million customers.
“We’re expanding upon our existing onsite ads business by launching an offsite audience extension solution with Yahoo DSP in Australia, enabling advertisers to reach Afterpay’s valuable audiences," said Marni Schapiro, Global General Manager of Advertising & Revenue at Afterpay.
"The Afterpay Media Network addresses industry challenges around fragmentation as advertisers will be able to seamlessly reach shoppers across multiple retailers with a single activation, and achieve closed-loop measurement, tying media exposures to sales outcomes.”
John McNerney, managing director of Australia and Southeast Asia at Yahoo, said commerce media networks are the fastest-growing segment in the industry, and the Afterpay Media Network is the first of its kind in this market.
"Advertisers want data that helps them reach the right audiences and understand how their digital campaigns influence actual purchases," he said.
Yahoo DSP is proud to help Afterpay unlock new revenue streams by providing advertisers with precise audience targeting and in-depth campaign measurement.”
Jessica White, CEO Australia, Kinesso, said the agency is passionate about what innovation in commerce can do for clients.
"The Afterpay - Yahoo partnership ensures a true full-funnel solution evangelising the branding opportunity commerce presents for our clients - not just performance. We’re naturally thrilled to be a launch partner," said White.
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