Retail media networks have been set-up all over the world. It’s not just the US or Europe – there is lots of innovation in Retail Media Networks in Latin America, Asia, Australia, New Zealand – and we are going to profile some of them here on Internet Retailing.
This week’s profile is the biggest retail media network in Türkiye, Mimeda.
Mimeda, short for Migros Medya Data, is Türkiye’s first retail media company established by Migros, the leading supermarket chain in Türkiye.
Migros is a household name in Türkiye and is one of the biggest retailers with thousands of stores across the country. The business was founded in 1954 and now has millions of customers every week across banners like Migros, Macrocenter, Migros Sanal Market, Migros Hemen, Mion, Vaga, Oliz. There are store formats for every customer need ranging from supermarkets to hypermarkets from luxury grocery shops, electronics and cosmetic stores.
Mimeda In Detail
Mimeda aims to integrate retail consumer and purchasing data with media channels to deliver targeted advertising. The intention, like many retail media networks is to help advertisers reach the right customers through various retail channels. What is impressive about Mimeda is that they have lots of different channels already set-up, such as in-store digital screens, influencers, onsite and offsite advertising as well as social media – and have been working with these channels for years.
Mimeda’s full funnel retail media solutions include:
- In-Store Advertising: includes digital screens, entrance sensors, and checkout areas within Migros, Mion, and Macrocenter stores to capture customer attention at the point of purchase.
- Online Platforms: Migros banners such as Migros Sanal Market, Hemen Online, Vaga, Oliz, and Mobilet all provide eCommerce capabilities and extensive online retail media advertising opportunities.
- Migros TV: A digital platform featuring a variety of content such as cooking recipes, beauty care videos, and children’s programs, with over 410,000 YouTube subscribers and 20 million monthly views
- Offsite Platforms: Advertisers can use the Migros Group’s 1st party audiences on the open web and social media platforms to build mid-and upper funnel campaigns.
- M-Influencer: Connects brands with popular influencers to reach targeted audiences effectively.
Instore, online and offsite platforms are powered by M-Link, a custom-build adtech platform developed by Mimeda. Mimeda M-Link is one of the few retail media adtech capabilities in the Turkish market. Mimeda uses M-Link to educate digital teams and media planning teams about how to create and execute campaigns.
Migros Loyalty Programme
Migros has extensively invested in its customer loyalty programmes – called “Money”. There are now 19m active customers. The insights from the loyalty programme combined with the retail channel integration led to the birth of Mimeda.
Even before the term “retail media” became popular, Migros were working with many big FMCG brands , showing what was possible through CRM channels as well as instore implementation. Once Migros decided to separate the team and rebrand as ‘Mimeda’, many of these brands became the first customers of Mimeda, for example, Unilever, Loreal & many others.
Mimeda’s strongest channels are instore and CRM channels. For the past 3 years, the team heavily invested in establishing online channels ranging from banners and search products, making online channels an important part of their offerings.
Mimeda management
Mimeda is lead by Kına Demirel, a 25-year veteran of retail, data and marketing. Demirel previously managed Migros’s loyalty programme, Money, as well as its Migros marketing and media for more than 10 years.
Demirel believes that “for any FMCG CMO to succeed in the future, they must know the marketing dynamics of every sales channel. Retail sales channels such as stores to online, have been overlooked by marketing professionals and did not include it as part of media mix”.
Demirel points out the “the retail data powered by consumer data is far more powerful than any other source. For any FMCG brand, the real growth can only be through retail media”. Kına is an active brand ambassador for retail media in Türkiye as well as internationally, explaining to brands how to get the most benefits out of retail media.
Mimeda innovation
Mimeda has pioneered retail media in Türkiye by integrating media channels with retail data, creating a unique advertising ecosystem. Mimeda’s access to the Migros Money loyalty programme, with its 100% penetration into Turkish households, means that the retail media has extensive insight into Türkiye shoppers.
Mimeda has delivered many ‘firsts’ in retail media globally: the network was working with influencers for years – way before they appeared on any international retail media plan. They have even created events with some of Türkiye’s biggest popstars, creating advertising and sampling opportunities within an entertainment environment that local FMCG brands love.
Retail media in Türkiye
Overall advertising media spend is increasing year by year and digital marketing is a significant portion of media budgets. Advertisers place their budgets on social media and online video platforms leveraging the high local engagement rates on these platforms.
The Turkish retail market is huge, diverse and sophisticated. Digital Commerce is a fast-growing and significant part of everyday shopping. However, international players are missing from the picture: The absence of Amazon as a major competitor in Türkiye has allowed local companies like Trendyol and Migros to expand their services and customer base more effectively.
In addition to its physical stores, Migros has a substantial digital commerce business. Platforms like Trendyol and HepsiBurada have captured substantial market and mind share.
· Trendyol: One of Türkiye’s leading eCommerce platforms, offering a wide range of products from fashion to electronics. It has gained substantial market share by providing fast delivery and competitive prices. It is part of Alibaba Group.
· Hepsiburada: from the Turkish hepsi burada, “all of it/everything is here”), Hepsiburada is both a 1P and 3P marketplace platform with 30 categories including Electronics, Fashion, Home, Life, Garden, DIY, Personal care, Stationery with 160 million+ SKUs. It is quoted on the NASDAQ.
What next for Mimeda?
Mimeda and Migros are leading the charge in transforming Türkiye’s retail landscape through innovative retail media solutions and extensive market presence. Mimeda was created by Migros with the objective of building an independent retail media ecosystem for Migros and other retailers. To grow the market, Mimeda acts as a brand ambassador for retail media to the market as a whole by showing valuable insights into the integration of retail data with media channels.
Mimeda aims to continue expanding its capabilities by incorporating more advanced data analytics and expanding its network of retail partners. Mimeda already represents popular local retailers like E-bebek, Oliz, Mobilet, strong local retailers. Mimeda is improving its consumer knowledge with data science and AI learnings to ensure the retail media mix for brands is optimised.
Image: Josbert Lonnee via Flickr
