- The Home Depot has named Melanie Babcock as vice president of its Retail Media+ and monetization business, according to a Tuesday press release shared with Retail Dive.
- Babcock will manage the company’s supplier experiences and drive new sources of advertising revenue, profitability and sales in her new role. The retailer launched Retail Media+ in 2019 to offer suppliers media buying opportunities on Home Depot’s owned properties and offsite media channels.
- Babcock has been with the company since 2013. She most recently served as the company’s vice president of integrated media, a role in which she helped to launch and grow Retail Media+.
The Home Depot joins other retailers, including Walmart and Dollar General, in developing advertising businesses in-house. While Dollar General cultivated advertising partners like General Mills, Unilever and Hershey’s, the retailer aims to attract brands seeking rural shoppers. Separating its ad revenue for the first time, Walmart reported in its 2022 Q4 earnings report that its ad business generated $2.1 billion in revenue.
But as The Home Depot and other retailers carve out share in the ad market, Amazon remains a leader in the space. The e-commerce behemoth has more than a third (37%) of the market share in the retail media ad market, according to a MediaRadar analysis released in March.
The Home Depot is dedicated to continuing to grow our Retail Media Network and Melanie’s leadership along with our unique data and program offerings will set us up for continued success,” says Molly Battin, senior vice president and chief marketing officer. “We are committed to providing a best-in-class experience, not only for the supplier partners we work with, but our customers as well.”
Though retailers are trying to court advertisers, some brands have been reluctant to spend money on retailer ad networks. Per a January report from the Association of National Advertisers, 88% of brands feel that they are somewhat or heavily influenced by retailers to purchase ads on their in-house networks. Less than half (42%) of advertisers said they view retail ad spending as both a helpful tool and a cost of doing business.