As reported this week in Forbes.com, IPG Media Lab along with our parent company, Mediabrands is joining forces with AOL to create the next generation of retail shopping tools. Our hope is to make it easier for shoppers to get the information they need to make smart choices while harnessing the best of traditional retail advertising with the latest in online and social media technology.
We want not only to build a better, smarter experience for consumer, but a more effective advertising vehicle for retailers themselves. With average circulation of larger newspapers on the decline (down nearly 8.7% according to an Audit Bureau of Circulations study) the media has spent much time wringing its hands over the future of print. What we donâ€™t talk about is what that might mean for retail advertisers. Retailers have spent billions of dollars over the years teaching shoppers to look in the Sunday newspaper for the latest news about whatâ€™s on sale in their city. Retailers have relied on print because it has a focused immediacy that online canâ€™t provide; it promotes timely sales, serves as a metaphor for the retail season and even educates sales people. Television, radio, and even banner ads have never been able to make up the difference from a low-tech free standing insert or full page ad in the daily and Sunday papers. As a result, for decades, very little has changed in the regular weekly newspaper insert, or the coupon mailers that go to American homes each week. Continue reading “Meet the next generation of retail shopping”