The media retail market in Romania will exceed 10 million euros in 2024

The media retail market in Romania will exceed 10 million euros in 2024, increasing by more than 30 percent compared to the previous year, according to the analysis of Footprints AI, a Romanian technology company that develops and markets an advanced media retail platform. In 2023, the media retail field attracted investments of around 7.5 million euros in Romania.

The anticipated advance is reflected in the growing number of retailers developing and consolidating their offerings, scaling their dedicated teams, and allocating budgets for revenue scaling investments.

Footprints AI develops a solution that enables dynamic targeting based on the consumption behavior of retail customers, providing a constant improvement of the shopping experience for consumers and an efficiency of monetization of advertising investments at least 3 times higher for brands compared to other platforms, including Google and Meta, and classic media (radio, TV).

Last year, the costs of retail brands with Search Media and with social media, for the same results (traffic or conversions), increased by about 34 percent – 36 percent, compared to the year 2022. In the next 5 years, retail media will reach a share of approximately 25 percent of digital advertising budgets compared to social media and Search Media.

Footprints AI is currently working with 15 retailers in their Retail Data Monetization processes and ended last year with 3x revenue from 2022. This year, the company aims to expand its portfolio, especially with mid-sized retailers from various sectors, including food, automotive, financial services, etc. The focus regions for expansion are the US, Western Europe, the Nordics, the Baltics and MENA.

Footprints AI development plans in 2024 will be supported by budgeted investments worth 500,000 euros, which will be directed into marketing and sales operations supporting the company’s partnerships with UST, Microsoft, and others.

“This year, we will focus on launching the platform in new geographies and industries through and with partners. In this direction, we have entered a global partnership with UST, the second largest integrator of digital marketing solutions and services in the US, which marks an important step in our Go to Market strategy and opens multiple opportunities for expansion. This type of collaboration will enable retailers to implement and scale their Data Monetization projects more quickly and efficiently,” says Dan Marc, Founder and CEO, Footprints AI.