Retailers are reporting good results from new retail media advertising tools offered by Meta.
A month after the company launched Managed Partner Ads Lite and local inventory ads, retailers who have deployed these solutions have seen a lift in sales, Modern Retail reported Friday (April 14).
For example, Dollar General said Managed Partner Ads Lite — which lets retailers create ads on Meta’s platforms,Facebook and Instagram — has enabled brands to connect with its customers through ads on those platforms.
“DGMN can now help brands understand their true return on ad spend through attribution-based measurement, helping them validate their marketing investments,” a Dollar General spokesperson told PYMNTS March 29.
Meta itself said Walgreens partnered with a consumer packaged goods (CPG) brand and used the advertising tool to boost its sales of health remedies by 3.9% and skin care products by 2.5%.
The Managed Partner Ads Lite tools leverages consumer insights from retailers’ data, enables retailers to work with brands on advertising, according to the Modern Retail report.
The local inventory ads tool — which delivers ads focused on driving omnichannel sales for both retailers and brands — uses data about the inventory in stores to advertise those products to local consumers, the report said.
Other merchants are also banking on retail media to fuel omnichannel customer engagement.
For example, French retail giant Carrefour unveiled plans in November 2022 to launch a global retail media platform in a joint venture with French multinational advertising and public relations agency Publicis.
The new platform will build on Carrefour Links, which is designed to allow the retailer’s advertising partners to leverage customer data for more personalized campaigns.
Carrefour and Publicis said at the time that their new venture has “the ambition to rally multiple new retailers, to build an unparalleled network of inventories and accelerate the development of retail media in Europe and Latin America.”
Grocers, too, have tapped retail media, with BJ’s Wholesale Club announcing in December 2022 that it is launching BJ’s Media Edge, a Microsoft PromoteIQ-powered advertising initiative offering analytics-informed web, mobile and social media marketing solutions to brands.
“This new program builds upon our existing digital marketing offerings with a customizable solution for brand partners to influence our members at every stage of their purchase journey, all while driving measurable returns,” BJ’s Chief Digital Officer Monica Schwartz said at the time.
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