Retail Media Radar: July
Each month we look at retail innovation and best practice around the world. Here is a small selection of great examples that we’ve seen in recent weeks.
1. MAD//Fest focus on Retail Media
MAD//Fest is an annual marketing, advertising, and technology festival that showcases the latest in marketing innovation with presentations and panel sessions from major retailers and CPG brands
This year, there was an even heavier focus on Retail Media with some key insights from the retail media teams at Tesco, Ocado, Sainsbury’s and Boots
The key retail media insights were focussed on:
Putting the customer first is critical in Retail Media thinking – it’s not simply about media sales.
As a result, integrated campaign planning is becoming a key focus to ensure that Retail Media campaigns cover the entire shopper experience.
Organisational structure within both the Retailer’s and CPG’s teams was a key topic of discussion with the critical need to bring commercial, consumer and media thinking into the integrated plan. Therefore, there is a real need for buying, marketing and retail media teams to work in collaboration.
The on-going need for standardised measurement and attribution – this critical for retailers being able to access bigger CPG brand budgets and demonstrate ROAS.
More information: https://www.madfestlondon.com/insights/
2. Tesco and Group M form ‘landmark’ retail media partnership
Tesco Media and Insight Platform has signed a first-of-its-kind retail media deal with media company GroupM.
It signifies a landmark in retail media, combining Tesco's customer insights and GroupM's media expertise to create more effective and innovative marketing solutions covering a range of on-site, off-site and connected in-store opportunities.
GroupM will benefit in numerous key areas in retail media across data, insights, and strategic planning, which will enable its clients to harness the power of retail media – in all its forms – for measurable commercial advantage.
Additionally, a new in-store screen partnership – the first of its kind – will tap into the ever-evolving Tesco Connected Store. It will also ensure GroupM clients have early access to new innovations and a direct feedback loop into the product ad propositions team, where it can help shape future offerings. This move is likely to further elevate the status of in-store digital media as a powerful brand-building channel in its own right and help Tesco access incremental CPG brand budgets.
More information: https://www.marketing-beat.co.uk/2024/06/27/tesco-retail-media-news/
3. Currys Retail Media Network: now offering Connected TV (CTV) advertising
Currys Retail Media Network has expanded its deal with Titan OS. Titan OS partners with TV manufacturers such as Philips & JVC and enables them to serve targeted ads to consumers via Connected TVs (CTV)
Currys’ suppliers, such as Apple, Samsung, Sony etc can now use Currys Connected Media (CCM) to reach consumers with intelligently targeted ads whilst watching a streaming TV service.
Titan OS serves up brand safe, premium ad formats, such as homepage banners and instream ads delivered alongside premium content.
Ads served on these TVs will be targeted using a combination of viewing data from Titan OS and consent driven data from Currys and its partners.
CTV advertising is one of the channels opening up to Retail Media owners to reach consumers on the biggest screen in the home.
More information: https://www.currysplc.com/news-media/press-releases/2024/currys-connected-media-adds-connected-tv-capability-with-titan-os-partnership/
4. Co-op Retail Media Case Study and Halo effect on larger supermarkets
One of the key case studies presented at MAD//Fest was from the Co-op who found that their recent retail media initiative had led to a fourfold increase in immediate sales across its stores and neighbouring grocery shops.
Partnering with Circana, Co-op's research revealed a significant halo effect, boosting brand awareness and long-term sales for advertised products.
A high-profile campaign involving a global beer brand saw a 12% sales increase in Co-op stores and a 3% rise in non-Co-op stores. This demonstrates the effectiveness of retail media in influencing purchasing decisions and driving incremental sales with a long-term impact on consumer behaviour.
More information: https://www.retailgazette.co.uk/blog/2024/07/co-op-retail-media/
5. CVS tests self-serve retail media offering
CVS Media Exchange (CMX), CVS’ retail media network, is trialling a new self-service platform for advertisers in partnership with The Trade Desk.
While managed services will remain available, the self-service option is designed to enhance access and transparency, giving brands more control over their on- and off-site campaigns and measurement.
This new service will also enable advertiser partners to better reach CVS ExtraCare shoppers across off-site channels, including programmatic display and connected TV.
More information: https://www.retailtouchpoints.com/topics/digital-marketing/new-cvs-self-serve-retail-media-offering-aims-to-help-brands-move-at-the-speed-of-commerce
6. Instacart offers shoppable YouTube ads for FMCG/CPG brands
The online grocery platform Instacart is offering its first-party retail media data on YouTube with the aim of driving even more shoppable reach for its retail media network advertisers.
The move will enable certain brand partners to engage and convert consumers watching YouTube directly to buy products for same-day delivery.
This builds on Instacart’s wider retail media collaboration with Google Shopping (rolled out earlier this year) to deliver ads for its CPG partners, making use of Instacart’s first-party retail media data.
Brands such as Danone and Nestlé USA were among the first to pilot. Instacart’s AI-powered merchandising combines nutritional preferences, past purchases and real-time trend data to connect with high-intent consumers across Google’s properties and facilitate purchases via Instacart.
One of the ads can be watched here: Instagram Clorox YouTube ad
