Dunnhumby Launches Retail Media Platform
Dunnhumby Sphere
“Retailers are finding out that building their own retail media business is complex,” Julie Jeancolas, head of media and customer engagement products, Dunnhumby, said in the news release. “The retail media ecosystem is highly fragmented, making platforms difficult and expensive to develop. This often means that the value of data gets trapped, with some third-party data platforms serving unusable data to brands and agencies, which undermines the point of a self-service platform.”
Tesco’s Dunnhumby has launched an end-to-end retail media platform dubbed Dunnhumby Sphere.
Dunnhumby Sphere includes a number of fully integrated modules that take users to brand insights, campaign and media booking,audience targeting, forecasting and measurement across a range of retail media channels.
The platform was built with a focus on data science to allow retailers to monetize with advertisers and track the long-term impact of retail media on the consumer experience, according to a news release. Advertising partners will benefit from “enhanced collaboration” and the ability to plan, book, measure and pay for campaigns across online and in-store channels.
As a “modular solution,” Dunnhumby Sphere also enables retailers to incorporate their existing retail media technologies, allowing retailers to in-house operations.
Dunnhumby Sphere is already used by Tesco in the U.K. to power several of the retail media offerings part of the Tesco Media and Insight platform, which was recently launched in the U.K. to help Tesco suppliers and agencies engage with customers and understand their evolving needs.
Dunnhumby Sphere also offers access to simple AI-powered audiences to predict the likelihood a customer will buy any given product, resulting in up to twice the return on ad spend (ROAS) when compared to standard descriptive segmentation models, according to the company.
The platform's cross-channel customer profile enables retailers to monitor the impact on customer lifetime value, loyalty and basket size, while also considering shopper need changes through in-depth and closed-loop measurements.
Dunnhumby Sphere will launch in several stages, with modules including digital, store media, digital onsite and sponsored products to follow throughout 2022.