The Co-op has launched a retail media network to boost advertising opportunities for brands, claiming a UK first for the convenience sector.
Dubbed the Co-op Media Network, it brings together Co-op’s in-house team and long-term agency partner Threefold – an SMG agency who are the largest operator of retail media networks in the UK – under one recognisable brand identity.
It means brands will now be able to “strategically connect” their goods and services to interested Co-op shoppers in offsite digital media channels, ensuring “the right messages are received by the right customers”, SMG said.
This will enable brands to improve their media efficiency by focusing their advertising spend on shoppers that are more likely to engage with their products, it added.
“As the importance of retail media continues to grow within the broader marketing mix for brands, SMG’s proprietary software product, Plan-Apps, will help brands investing in Co-op Media Network to gain a comprehensive understanding of performance and measure the high ROI that convenience media can drive. We’re so excited to see this come to life,” said SMG CEO Samuel Knights.
Co-op chief membership and customer officer Kenyatte Nelson said: “This is a momentous move for Co-op and one that will solidify our position in the retail media sector. Co-op is a leader in the convenience market and we will use our strengths to replicate our successes as a media owner.
“Co-op’s nationwide network of frequently-shopped, smaller stores drives increased opportunities for brands’ advertising campaigns, and the unique impulsive nature of convenience shopping missions creates untapped occasions for brands to grow their sales.
“Convenience shopping and supermarket shopping are different purchasing occasions and brands will see greater sales and brand building benefits by executing media against both.”