Digital transformation company EPAM Systems has announced a strategic partnership with Google Cloud to address the complexities faced by retailers in scaling their retail media business.
The collaboration is aligned with EPAM’s Industry Value Network initiative and aims to develop a suite of retail media accelerators specifically designed to overcome challenges related to efficiency, scalability, and functionality.
Composable cloud accelerators for retail media
EPAM’s Retail Media Orchestration Toolkit, created in collaboration with Google Cloud, introduces a set of composable cloud accelerators.
This toolkit allows retailers to enhance their operations by efficiently working with multiple technology vendors through a unified platform.
By leveraging Google Cloud’s scalability and analytical capabilities, along with a network of retail media software vendors, retailers can avoid the need to build in-house solutions.
Addressing the growing importance of retail media
As online shopping continues to surge, retail media has emerged as the fastest-growing segment in the advertising industry, holding the potential to generate substantial annual revenue.
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EPAM’s Retail Media Orchestration Toolkit addresses the current fragmentation in this space, offering a solution to create higher-quality advertising experiences with improved measurement and targeting capabilities.
Key features of the Retail Media Orchestration Toolkit
EPAM’s Retail Media Orchestration Toolkit brings several essential features to the table, including:
- Multichannel reporting: The toolkit consolidates automated campaign metrics from various platforms into a single dashboard, streamlining reporting for retailers.
- Omnichannel measurement: Automated measurement tools help brands understand the incremental sales and revenue impact of their retail media investments across diverse channels and platforms.
- Advanced audience creation: Leveraging analytical tools within Google Cloud, brands can create powerful, predictive audiences across channels and platforms, enhancing targeting capabilities.
- Brand and consumer insights: The toolkit provides in-depth insights into category share, consumer profiles, purchase channels, and basket composition, aiding brands in planning more effective campaigns and increasing media investments.
David Billings, VP and global head of Media Practice at EPAM, expressed satisfaction with the collaboration, emphasising its role in helping retailers scale their retail media business without substantial capital investments.
Pallab Deb, managing director of Solutions and Industry Value Networks at Google Cloud, highlighted the partnership’s contribution to accelerating digital transformation in the retail industry.