Co-op has partnered with data platform LiveRamp to better connect brand advertising with relevant shoppers and boost its retail media business.
Using LiveRamp’s platform, Co-op would be better able to “leverage its rich first-party member data to enhance the targeting sophistication of paid digital media” the retailer said.
As a result, brands using Co-op retail media would be able to “reduce their media waste” by focusing advertising spend on shoppers more likely to engage with them.
“At Co-op, we’re investing in our retail media business to ensure we’re connecting our members to the missions and categories they engage with and for our partner brands to have the insight they need to succeed in the omnichannel customer journey,” said Kenyatte Nelson, chief membership & customer officer at Co-op.
The partnership meant “we can manage everything in our own media sales house with easy activations and this new partnership will enable brands to deliver the best customer experience to Co-op members and customers, resulting in better campaign success” Nelson added.
A number of factors are pushing up demand for retail media opportunities – including the upcoming ‘cookiepocalypse’ in 2023, when Google Chrome is due to phase out third-party cookies, and the appeal of the first-party data held by supermarkets such as EPoS and loyalty data, which allows advertisers to be more targeted in their marketing efforts.
Co-op said last year it had delivered close to 2,000 campaigns and worked with 450 brands.
The business in April overhauled its membership offering – including a £240m investment across the next five years on deals exclusively for members – which has since tripled weekly sign-ups and now boasts more than 4.8 million active members.
“Rich first-party datasets will form the backbone of Co-op’s retail media offering, presenting huge opportunities for brands to drive growth and return on their advertising spend,” the company said.
LiveRamp has several clients in the grocery space – including Walmart, Carrefour, Danone, Kimberly-Clark and Boots.
Co-op had “massive potential to unlock in its first-party data” said Hugh Stevens, MD UK at LiveRamp.
“We’re delighted to be partnering with them as the business expands their retail media with privacy-focused data collaboration that everyone in the Co-op ecosystem will benefit from, helping brands to better understand their customers’ needs, market to them more effectively and truly understand the efficacy of their investment,” he added.
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