What web3 means for CPGs, and how Adsta can help.
Technology is constantly evolving, and CPGs have no option but to keep a constant eye on the future. Typically these innovations prompt subtle changes, and quick adjustments are enough for brands to stay relevant. But every so often the digital landscape undergoes a true paradigm shift that forces everyone to rethink how they engage with the internet.
Since being founded in 2020, Adsta has provided CPGs with cutting-edge digital advertising solutions. As a national retail media network, Adsta has earned a strong reputation for predicting upcoming trends in the digital space. As the next wave of the internet dramatically changes the grocery industry, Adsta is on the ground floor ready to help CPG brands reach customers.
What is Web3?
Simply put, web3 refers to the next stage of the internet. It exists as a decentralized digital ecosystem built on blockchain technology. The easiest way to explain what web3 offers is to think about how the internet has changed over time.
- Curated sites that people visit to read information
- No social engagement
- Point, click, and read
Web2 (2005- Today):
- Sites host users in exchange for data
- Primarily used for engagement with one another
- Click, read, and write
- Decentralized, users control their own data
- Primarily used for blockchain technologies
- Click, read and write, and own digital assets
The primary innovation that web3 offers is the ability for users to own and control digital spaces. This not only removes ownership of data from large tech companies but actively provides increased security for users.
What It Means for the Grocery Industry
At first glance, web3 seems like it might be problematic for CPGs. After all, web2 works to constantly accumulate personal data, making it easy for brands to plan advertising strategies. But this is not always received well by customers. Recent data suggests that 54% of consumers object to being targeted based on their online activity.
Web3 transforms the ways brands do outreach. Instead of being bombarded with advertisements based on their activity, users freely choose which brands they want to engage with. And because their data is protected, the negative feelings associated with data collection become a moot point. Brands are free to focus their attention on the consumers that actually want to engage with them, which provides more concrete leads for sales.
What It Looks Like
Web3 is still in its infancy, so its full potential is still slowly being revealed. But there have been exciting glimpses showing how brands can utilize the space. Whether it be minting their own NFTs that unlock access to exclusive deals or creating opportunities for customers to own moments from events that brands sponsor. As of now, the possibilities seem endless.
There are also exciting opportunities unfolding inside the metaverse. For CPGs this means figuring out ways to put products on the shelves of digital retailers and even purchasing real estate inside the metaverse to host events or place advertisements. For retailers, this means creating digital versions of their stores that sell products that are delivered to customers.
How Adsta Can Help
Adsta has always operated on the frontlines of innovation, disrupting the grocery industry and creating new ways for brands and retailers to find success in the retail media landscape. It’s this mentality that first led Adsta to web3 and the exciting possibilities that exist in this space.
It’s true that web 3 is still in its early days, but brands are already taking advantage of this new technology and establishing themselves. Adsta recently published a whitepaper laying out the evolution of web3 and providing detailed information about its potential for CPGs and independent grocers.
Click the link below to read our whitepaper and learn more about the exciting opportunities web3 can provide