According to retail technology expo, the Co-op Media Network brings together the Co-op’s in-house team and its long-term agency partner Threefold, part of the SMG agency, which is the largest operator of retail media networks in the UK, to create one recognisable brand identity.
The group said the retail media network aims to help brands “reach new and wider audiences”, while “improving advertising relevancy” for its shoppers.
The new network strives to capitalise on the Co-op’s strengths relating to the “scale of its operations” and the uniqueness of convenience retail compared to the larger retailers.
It will also allow brands to have better opportunities to connect their goods and services to Co-op customers in offsite digital channels while focusing their advertising spend on shoppers that are most likely to engage with products.
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 to see 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.”
According to retail technology expo, SMG chief executive Samuel Knights added: “This moment marks a true evolution in Co-op’s media capabilities. There’s now an ever-growing opportunity for brands to strategically connect with a distinct group of convenience shoppers with precision, ensuring the right messages are received by the right customers.”
Source: Retail Week