In-House Retail Media is a Golden Opportunity for the Right Partners
More and more retailers are bringing their retail media in-house. Walmart, Ahold Delhaize, Kroger, Best Buy, Costco and, most recently, Dollar General are among the big names to exert more control over retail media sales and targeting.
Does bringing retail media in-house mean the end of partnerships? Not at all. But it does mean retailers are looking for different kinds of partners.
To start their retail media businesses most retailers had no problem working with third-party partners like Criteo and Meta to monetize their first-party data. The money flowed. But retailers – and especially retail loyalty teams – began to ask if the programs sold by these third-party partners were really in their best interest? Do they serve the needs of customers? Do they promote loyalty?
Ecrebo is a good example of the new flavor of retail media partner that empowers retailers to make their in-house retail media plans succeed.
At the Retail Media Summit in May, Rohit Dua, VP of Loyalty Portfolio Management at Loblaw, presented a case study on how Loblaw uses Ecrebo’s receipt-marketing technology to enhance its retail media efforts in two important ways.
First, by using Ecrebo to effortlessly add personalized QR codes to paper receipts, Loblaw is acquiring and activating loyalty app users with unprecedented efficiency. Dua explained that with Ecrebo, non-digital loyalty members can be converted to loyalty app users for one-tenth the usual cost. Similarly, he said that lapsed loyalty app users can be reactivated at essentially no cost simply by adding a QR that deep-links to an app offer the lapsed user is likely to find attractive.
Second, Dua explained that offers punched with QRs on receipts enjoy at least a 15% higher redemption rate. With these results in-hand, Loblaws is now selling the on-receipt callouts to brands for a premium.
“We’ve been using Ecrebo chain-wide for over a year,” said Dua. “It’s been very good for our retail media business. It’s led to more app users using the app more often. That gives us more retail media inventory to sell. And, it helps us deliver superior results for our brand partners.” Dua went on to say that the on-receipt QRs are precisely targeted with help from Eagle Eye, another valued retail media partner.
Because retail media is technically and operationally complicated, retailers will always need capable partners. The move to in-housing is a golden opportunity for solution providers like Ecrebo who offer tools that retailers can self-sufficiently use to grow their retail media businesses, keep tight control over their first-party data, and execute relevant marketing programs that promote customer loyalty.
Learn more about how Ecrebo can cost-effectively grow your retail media inventory. Contact Mike Grimes. Visit www.ecreboinc.com.
