Monetisation can simplistically be described as the action of taking an asset and turning it into money, which during these tough times when retailers need to look at all aspects of their businesses clearly represents an opportunity to derive additional revenues.
One area of monetisation that is all too often overlooked is in fact easy to embrace; secondary revenue. Now considered an essential part of a business, secondary revenue is especially important because it can help companies diversify their sources of total revenue.
Which types of secondary revenue should be considered? And how can this be executed to realise commercial contribution?