JB Hi-Fi has launched Australia’s first consumer electronics retail media network in partnership with Retail MediaWorks. The move allows the company to expand its reach to shoppers while securing additional profit through the sale of advertising. JB Hi-Fi operates more than 200 stores across Australia, offering a wide range of consumer electronics and home entertainment products. Retail MediaWorks specialises in establishing and scaling retail media networks for major retailers.
Retail media networks function by allowing retailers to sell marketing and advertising space to brands on their websites, apps, and within their physical stores. These networks utilise customer data to facilitate highly targeted advertising campaigns. According to investment bank Morgan Stanley, this category is valued at $1.6 billion.
Retail MediaWorks chief executive John Georgas stated that JB Hi-Fi is one of Australia’s most influential retailers, adding that this partnership is a reflection of the future direction of retail media. He also mentioned they are building a data-led omnichannel platform that will deliver measurable outcomes for brands and long-term growth for the retailer.
The partnership aims to create a scalable platform that benefits both advertisers and JB Hi-Fi by leveraging data-driven advertising strategies. This positions JB Hi-Fi to capitalize on the growing retail media market and enhance its revenue streams.
