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The retail media business of Kroger is expanding talent and capabilities to improve shopping experiences and increase advertising performance.
CINCINNATI, OH / ACCESSWIRE / June 28, 2023 / Kroger Precision Marketing (KPM), the retail media business of Kroger powered by 84.51°, is building the next generation of advertising technology in-house. The new KPM advertising platform will accelerate the ability for retail data to improve shopping experiences while also making it easier for advertisers to activate, measure, and optimize campaigns.
The new self-service platform will initially encompass Kroger's existing product listing ads and onsite display advertising. It will later power KPM's entire retail media service portfolio.
"Retailers are creating the consumer-first future of advertising," said Cara Pratt, Senior Vice President of Kroger Precision Marketing. "We know we need to remove friction from the retail media buying process. Building a new foundation of integrated technology empowers brands and agencies to maximize retail media's potential. Together, we will deliver a more convenient, personalized, and inspirational shopping experience."
Retail media emerged with fragmented advertising systems for different media channels. By building an in-house advertising platform, KPM will offer a more unified marketing strategy between various on-site and offsite media channels. The new platform will also pave the way for greater interoperability with other media activation and management software.
As a self-service advertising platform, initial capabilities will allow clients to:
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Reach relevant audiences using search-based insights and custom ad groups.
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Design, iterate, and activate creative messages within the platform.
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Customize and save multiple creative templates by brand and product.
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Optimize all campaign elements including budgets, messaging, and flighting.
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Build reports and boost performance against deterministic retail data - including sales lift, household penetration and unit lift.
All advertisers will be able to transition to the new platform before the end of 2023. Advertisers using third party management tools from Pacvue, Skai and Commerce IQ may still manage inventory through those platforms. Additional integrations will be announced in the future.
While other digital media companies have contracted in 2023, KPM has been adding talent to build the new advertising platform. New roles have included product, engineering, data science, compliance, media operations, and client success teams. The growth spotlights Kroger's commitment to retail media innovation.