Shop Premium Outlets, the premium and luxury goods destination powered by mall operator Simon Property Group, has announced the launch of a retail media network in partnership with Mirakl Ads.
The initiative will enhance visibility and sales for Shop Premium Outlets sellers while delivering personalized advertisements to millions of online shoppers worldwide. Leveraging Mirakl’s AI-powered sponsored product ads, sellers can seamlessly advertise on the platform in minutes, reaching a global audience of discerning shoppers.
With over 300 curated sellers and brands such as Adidas, Coach Outlet, Hugo Boss, and Mulberry, the platform offers customers an extensive selection of premium and luxury items at affordable prices. By integrating Mirakl Ads into its marketplace strategy, Shop Premium Outlets aims to empower sellers to accelerate growth while maintaining the integrity of the shopping experience.
“The launch of our new retail media network demonstrates Shop Premium Outlets’ commitment to an exceptional experience, not just for our customers, but for the hundreds of curated brands we partner with on our eCommerce marketplace,” said Neel Grover, CEO of Shop Premium Outlets.
According to Insider Intelligence, worldwide retail media spend is expected to reach US $ 140 billion this year, constituting one-fifth of total digital ad spend. With retail media sales boasting a 70 per cent to 90 per cent gross margin rate, this initiative represents a lucrative opportunity for retailers to capitalize on higher-margin activities. Group M predicts that by 2028, retail media spend will surpass TV ad spend.