Best Buy Canada, Place Exchange Team Up to Boost In-Store Ad Space
Best Buy Canada and Place Exchange have partnered to bring digital retail media in-store.
Place Exchange, independent supply-side platform (SSP) for programmatic out-of-home (OOH) media, is working with the retailer to enable advertisers to programmatically access thousands of premium digital screens throughout hundreds of Canadian stores.
Now advertisers can tap into Best Buy Canada’s in-store retail media network, Best Buy Ads, to reach the 50 million consumers who visit the stores each year.
The in-store screens are placed at highly visible locations to engage shoppers. These include video monitor walls, checkout areas, customer service stations and the appliances department. Advertisers to access this inventory through various programmatic buying options, including open auction and private marketplace deals directly within integrated omnichannel and OOH demand-side platforms (DSPs).
With 84% of total retail sales still taking place in physical stores, according to Statista, advertisers are turning to in-store media to engage consumers in the physical world throughout the path to purchase.
"We are excited to bring this opportunity to advertisers just as we head into the busiest shopping season of the year," Tara Wilkinson, director of strategy for Best Buy Canada, said in a media statement. "Until now, our programmatic retail media offerings were limited to digital advertising on BestBuy.ca. Through this first-of-its-kind partnership in Canada, advertisers will now be able to engage with our tech enthusiast shoppers in-store, while they are discovering new products and right at the point of purchase. It’s an exciting evolution in how brands can reach customers through retail media networks."
"Best Buy Ads Canada joining the Place Exchange network marks a significant advancement in retail media in Canada. We’re delivering a unique offering for advertisers seeking to engage tech enthusiasts and other valuable consumer segments with high purchase intent," Nick Bennett, SVP of partnerships at Place Exchange, said in the release. "The ability to combine the growing footprint of in-store retail media with other programmatic channels within the DSPs buyers already use will empower brands to build comprehensive, highly targeted, and measurable campaigns that resonate with today’s connected consumers."