Thrive Market Gets in the Retail Media Mix
Thrive Market, a membership-based online grocery store focused on natural, organic and sustainable products, has entered the world of retail media with the launch of its own ad business.
The company, which claims more than 1.5 million members, is leveraging Instacart’s Carrot Ads technology to run and sell ad placements on its own e-commerce site and mobile app. The goal is to create a more personalized member experience and drive value for the brands on its platform, according to a media release from Instacart.
Thrive Market joins the likes of Sprouts Farmers Market, Northeast Grocery Inc. (the parent company of Price Chopper/Market 32 and Tops Friendly Markets) and other retailers that are using Instacart’s ad solutions and sales capabilities to build and grow their own retailer media networks on their owned assets.
“This partnership redefines how our members can find products that fit their family’s needs, reducing the cognitive load and making shopping easier with Instacart’s Carrot Ads solution,” April Lane, Thrive Market’s chief merchandising officer, said in the release.
In the coming months, Thrive’s brand partners will be able to run campaigns leveraging Instacart’s sponsored product and display ad solutions on Thrive Market’s website and app.
- Sponsored product ads showcase an item in highly visible locations throughout the shopper journey, such as a department collection, with a clear “Sponsored” designation.
- Display ads allow more creative space for advertisers to tell their brand story and drive discovery. They appear at the top of the search results when users search for a related product or term or are influenced by a customer's past behavior.
Brand partners will also be able to target specific campaigns to users shopping on Thrive Market. Brands can also access self-service tools to set up, manage and monitor their campaigns, as well as optimized bidding options to drive specific business goals, such as acquisitions and sales. These self-service capabilities are particularly useful for emerging brands available on Thrive Market. Advertisers will also have access to metrics, including attributed sales and ROAS.
In addition, brands already running Instacart Ads campaigns will automatically extend their reach to include Thrive Market’s e-commerce experience as a way to enhance exposure and engage more relevant audiences. Emerging and innovative brands particularly can use the network to grow awareness and inspire trial among Thrive’s health-conscious consumers.
“Retail media has emerged as one of the ad industry’s fastest growing media channels because of its performance for advertisers and personalization for consumers,” Instacart’s chief business officer, Chris Rogers, added. “We’re proud to extend our ad technology to Thrive Market and bring [its] vision for a retail media network to life with Carrot Ads. Our new partnership will offer brands of all sizes a powerful, scaled ad platform to connect directly with Thrive Market’s engaged audience.”
