The Kroger Co.‘s retail media advertising business, Kroger Precision Marketing (KPM), has teamed up with sell-side advertising platform Magnite to expand its media offerings into the realm of connected and online TV.
Through the new partnership, KPM’s first-party data is now available to be packaged with Magnite’s omnichannel advertising inventory, which has a heavy emphasis on connected TV (CTV) but spans a range of digital formats including display and online video as well. This means that advertisers can now purchase CTV and video inventory enriched with KPM first-party data through the buy-side tool of their choice. Magnite currently reaches 80 million CTV households in the U.S. and nine out of 10 viewers of ad-supported TV.
“With people consuming more TV hours through connected devices, brands need access to retail sales data in the programmatic CTV environment,” said Michael Schuh, VP of Media Strategy and Program Development at KPM in a statement. “We’re excited to be working with Magnite to provide brands with a centralized access point to video and CTV inventory. We expect this collaboration will help solve for supply fragmentation and bring scale for CPG advertisers who are looking to activate on CTV.”
Partnerships like this represent the true potential of retail media, where first-party shopper data from retailers is used to better target advertising in third-party environments. “Optimizing to transactions — that’s the unlock here,” explained Quentin George, Partner at McKinsey in a recent Retail TouchPoints report examining the growing retail media space. “What gives retail media networks an advantage over almost every major media owner is that you have transactions involved.”
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Magnite also recently announced a deal with LG Ads Solutions to bring ACR data (which links linear and CTV data to give advertisers a more complete view of their ad exposure) and inventory from LG smart TVs together with Magnite’s offering. “Infusing premium CTV inventory with Kroger’s first-party retail data will be a huge opportunity for advertisers and we’re supportive of this trend across the retail media landscape,” said Raghu Kodige, CEO of LG Ads Solutions in a statement. “Expanding access to CTV audience data and unifying it with purchase data in privacy-compliant ways will support improved planning, activation and measurement.”
To learn more about retail media, check out our full guide here.
