Best Buy Canada Expands Reach of Its Retail Media Network
Best Buy Canada is extending its retail media network to serve third-party brands whose products and services it doesn’t directly sell.
Best Buy Ads Canada is teaming with e-commerce technology provider Rokt to enable non-endemic ads to present curated, time-sensitive offers and messages to customers on the confirmation page of its e-commerce site.
"Our partnership with Rokt gives us a new way to enhance the online customer experience by presenting shoppers with offers and messages that are relevant to them," Tara Wilkinson, director of strategy, Best Buy Canada, said in a news release. "Ad personalization is critical to the online customer experience. Rokt’s technology delivers superior ad engagement which speaks directly to relevance, and that’s why we chose to partner with Rokt — their offering is refreshingly unique."
Rokt uses machine learning to serve relevant offers to shoppers who are in the final stages of an e-commerce purchase, when they are most likely to convert.
RMS Canada
The Path to Purchase Institute is partnering with Loblaw Advance for its second Retail Media Summit Canada event. Industry leaders, innovators and experts in retail and advertising are gathering Feb. 19 in Toronto to discuss the latest trends, challenges and technologies shaping the future of omnichannel marketing and retail media in Canada and across the globe. Learn more here.
Leveraging Rokt’s technology, Best Buy Ads Canada is enabling non-endemic advertising partners such as Sirius XM, HelloFresh and DoorDash to present unique offers designed to drive customer loyalty and make the shopping experience more engaging overall.
"Best Buy is a trusted destination for all things consumer electronics and we're proud to launch this partnership in time for the holidays to enhance the shopping experience for the company's online customers," Laura Cosgrove, VP retail strategic partnerships at Rokt, said in the release. "By powering relevant messages from non-endemic brand partners, Best Buy can continue to engage its customers by bringing them relevant content."
Best Buy joins the growing list of retailers launching a similar opportunity for non-endemic brands with Rokt, including Ulta Beauty and Albertsons Cos.
Best Buy launched its retail media network in early 2022. The in-house media company is designed to help its suppliers provide shoppers with targeted and timely promotional messages based on customer insights and relationships. Best Buy said it interacts with its customers 3 billion times every year, both in-store and online.
In 2023, Best Buy began collaborating with TV streaming platform Roku, a move that allows the platforms to combine advertising data from Best Buy Ads with first-party information for targeting and closed-loop measurement from Roku.