In this edition, we debunk the myth that retail media is only useful for major CPG brands, plus we break down Simon Property Group's new RMN, Target's paid loyalty program and new hires at Hy-Vee and Macy's.
Hi, there! Welcome back to Unfold, the biweekly newsletter from the retail media experts at Threefold. After a chilly and dreary few months here in New York City, we’re finally enjoying warmer and sunnier weather as winter nears its end. As we hit mid-March and usher in spring, we know things will continue to heat up in retail media with major events on the horizon.
Speaking of events, Shoptalk is underway, and our CEO Samuel Knights , Co-Founder Matthew Lee and Managing Director Sean Crawford have all landed in Vegas and are attending the show. We’re excited to have several parts of the action. Last night, we held an exclusive dinner for retailers, and tonight is the Threefold-sponsored Retail Media OG Party, an event from our friends at the Path to Purchase Institute. If you’re in Vegas, there’s still time to RSVP and attend.
To refresh: Every two weeks, we’ll meet right here, on the Threefold LinkedIn page, to discuss what’s happening in the ever-changing world of retail media. Plus, our experts will provide key context and insights backed by our 15 years of experience working in commerce marketing. What’s more, we’ll also tackle a pervasive retail media myth to end misconceptions about our industry.Â
As always, there’s much to discuss, so let’s dig in.
This week, we’re debunking the myth that retail media is only effective for the biggest CPG brands.
The truth of the matter: Retail media offers opportunities for brands of all kinds across categories. And there’s a massive, untapped market for private-label investment in retail media. We predict private-label investment will grow in retail media, especially as private-label works to maintain market share in periods when consumers are less concerned with cost. If prices fall, consumers may return to purchasing more name-brand CPG products, but if private-label brands can remind consumers they offer a quality product at an attractive price point, they can find success in any economic environment. Enter retail media.
Once consumers try private-label goods, our experience tells us they’re more likely to become repeat consumers. Retailers already do the heavy lifting in promoting their name, and additional retail media at the point of purchase can drive awareness and push shoppers to experiment with store brands. Our team at Co-op Media Network, for instance, has activated retail media campaigns for its private-label brands, unlocking sales and proving ROI.
On that note: Partnership Director Amber Roberts will deliver a presentation on March 21 at PLMA’s Annual Meeting and Leadership Conference about how retailers and private-label brands can leverage retail media to reach shoppers beyond price.
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About Threefold
Founded in 2008, Threefold is the world's leading Retail Media Network (RMN) specialist, headquartered in both New York and London. As part of the SMG agency network, which employs over 250 retail media experts, Threefold's primary mission is to unlock incremental CPG budgets, curate media campaigns that supercharge sales and elevate its retail partners into top-tier omnichannel media owners, spanning in-store, off-site and online.
Threefold's services include consultancy, evaluation, and a white-label in-house solution that has seen the agency build, run and operate over 10 Retail Media Networks to date. In the UK, Threefold runs and operates Walgreens' Boots Media Group and Morrisons Media Group, and additional live partners include major retailers like Asda, The Co-op and The Very Group.