Online retail media opportunities growing

As reported by MarketingWeek, data from Forrester Research shows the number of online shoppers in Western Europe is set to increase from 140 million to 190 million by 2014. This growth in online shopping is encouraging more retailers to create ecommerce and mcommerce sites to cater to the growing population of online and mobile consumers.

In an interview with MarketingWeek, Guy Phillipson, CEO of the Internet Advertising Bureau, said as retailers attract more consumers to their ecommerce sites, they will enhance their media opportunities and leverage technology to offer unique experiences for both consumers and brands.

"Online retailers are beginning to treat their sites as media owners," Phillipson told the source. "Where there are mechanisms to prompt you to put more things in your basket, then that is (a retailer) acting like a media owner."

Technology consulting firm Cognizant recently announced it will be working with Telefonica UK to develop new online applications that will improve sales and enhance customer service, just as Phillipson described. Through the partnership, Telefonica's ecommerce site will become more flexible and responsive to consumers' demands and market changes.