GrocerKey, the white-label eCommerce platform enabling brick-and-mortar retailers to build profitable businesses online, today announced the addition of Fareway as the latest retailer to join the GrocerKey Retail Media Network. Embedded into the GrocerKey platform, GK Retail Media turns on to drive incremental revenue for retailers, while offering brand and advertising partners a powerful combination of cross-channel media to engage target customers. On average with GK Retail Media, brand partners achieve 40% incremental growth and retailers gain a 90% increase in incremental promotional funds with the introduction of shopper marketing and digital budgets from brands.
GK Retail Media has experienced significant growth over the past 12 months, with hundreds of brands active across the network. “With GK Retail Media, regional and independent grocery retailers across the U.S. and Canada have access to new revenue-generating opportunities, previously only enjoyed by the largest retailers,” said Jeremy Neren, co-founder and CEO, GrocerKey. “We look forward to working with Fareway on their journey to deliver more value for their customers and brands, while creating novel ways to attract new shoppers and win more trips.”
Read More: OverlayAnalytics Wins The Global Snowflake Startup Challenge
According to Forrester Research, “brands spent at least $5 billion on retail media in 2020.” Tapping into retail media with independent and regional retailers is a growing opportunity for not just national brands, but also new and local brands, to engage with target consumers across retailers’ on-site digital properties and across off-site digital and social media. The result: more effective, efficient use of advertising budgets by engaging consumers with valuable offers and personalized communications, based on browsing and buying behavior.
Highlights of the GrocerKey Retail Media Network to drive brand awareness, consumer engagement and sales growth for brands and advertisers include:
- Ecosystem of connected media: Deliver personalized, brand-safe campaigns at scale across onsite, off-site, and owned media channels
- Data-driven targeting and insights: Engage existing customers and find new ones based on browsing and buying behavior. Products such as automated product listings and product recommenders encourage product discovery and repeat purchases
- Closed-loop reporting: Understand sales lift by connecting media investment to sales, enabling better business decisions during and after campaigns
- GrocerKey Managed Services: Expert support to create and activate tailored programs to achieve business goals and KPIs
Read More: AInnovation Completes Series D Financing, Further Focusing On Smart Manufacturing
“We’re excited to partner with GrocerKey to power our Retail Media program for brand partners,” said Aaron Irlbeck, SVP Digital Commerce, Fareway. “It is designed to give brands a streamlined way to share shopper programs with Fareway customers both on and off our Shop.Fareway.com platform – a great step forward toward building a leading digital grocery experience.”