👉 Background: Bunnings is the iconic Australian hardware store with the so-bad-they’re-kinda-good-jingle-heavy-ads. And who can forget the iconic snags that haven’t changed in years. Over the past decade it has grown into an absolute BEHEMOTH, with its revenue almost reaching $19 billion in the last financial year.

‍👉 What happened: But Bunnings isn’t just about hammers and hose fittings anymore—it has plans to build a retail media empire after it has started to roll out LED screens across its stores. These screens are showcasing products of its hardware suppliers... in exchange for a tasty fee of course.

‍👉 What else: The LED screens will be placed in key strategic positions around their stores, a bit like how Woolies, Coles and Chemist Warehouse do this too. With the retail media industry growing RAPIDLY, Bunnings wants a piece of the growing pie.

What's the key learning?

💡Retail media has become the latest shiny new tool in the retail shed. It's the new way to expand revenue out of existing stores by using data to target shoppers right where they shop.

💡Analysts reckon this retail media industry is already worth more than $1.6 billion in Australia:

• Woolworths earned $550 million from its digital business, which has grown 34% in the past 4 years
• Coles earns around $250 million from retail media
  
• Chemist Warehouse earns a juicy $600 million from retail media per year
  

💡So Bunnings’ owner, Wesfarmers, is thinking - we've got to get a slice of this retail media. And there's no better place to test the waters than with trusty old Bunnings.