Ocado Retail is extending its use of retail media technology to enable its suppliers to manage their media campaigns on its website.
The grocer, a joint venture between Marks & Spencer and Ocado Group, is extending an existing partnership with ecommerce advertising platform CitrusAd to create a retail media and insights platform for its website. The technology is designed to help retailers monetise their digital shelf-space while enabling suppliers to to launch digital campaigns at the point of purchase.
At first, brands will be able to launch new products, supported by paid-for personalised ad campaigns, directly into the Ocado website using the new platform and to measure the results of their campaigns. Over the next 12 to 18 months, all Ocado suppliers will be invited to join the retail media and insights platform. At first it will serve only part of the Ocado media inventory, but the aim is for all media inventory to be on the platform by 2022/23.
Christina Hawley, chief commercial officer at Ocado, says: “Our partnership with CitrusAd is a key moment in how we work with and support our suppliers. The platform will allow us to better serve our suppliers, helping them to manage and optimise their media campaigns, leveraging campaign data, such as return on investment. CitrusAd’s market-leading technology, alongside our Crunch insights platform, will ultimately make it easier for our suppliers to put their products in front of more customers and build their business with Ocado."
Ocado says the platform is art of its data strategy, and offers suppliers the ability to see their performance in context with the full range of their competitors.
Kim Ludlow, head of UK at CitrusAd, says: “We are excited to be expanding our partnership with Ocado Retail, which brings together two leading technology companies in their respective fields. We will continue to deliver a powerful technology platform that will help Ocado Retail monetise and personalise its website and deliver more value to its partners. It means any supplier, regardless of size or ad spend, has an opportunity to get in front of shoppers and engage with digital audiences. This provides a huge boost for brands wanting to raise their profile and grow their business.”