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May 23: Retailers must share media performance data to succeed

In this edition, we're debunking the myth that retailers can succeed in the media world without robust data collaboration. Plus, we're breaking down retail media news from Expedia, CVS, Walmart and more.

Retailers must share media performance data to succeed
Unfold is the biweekly newsletter from the retail media experts at Threefold.

Hi there, and welcome back to Unfold, the bi-weekly newsletter from the retail media experts at Threefold. We’re coming to you from New York City, where the rainy days of spring have already begun to subside in favor of the hot and sunny summer, as we gear up to recognize Memorial Day on Monday.

While the last month has been quiet on the events front, we’ve had no problem keeping busy. Last week, we published our first ever Unfold: Fireside Chat, a quarterly video series recapping retail media events and trends. Don’t forget to watch that discussion, featuring CEO Samuel Knights, Managing Director Sean Crawford, Partnership Director Amber Roberts and Marketing Manager Connor Perrett, for a refresher on everything from Shoptalk to Retail Media Summit Canada. 

Programming note: Have you registered for Threefold’s new webinar series, The Power of Three? The first episode, all about the complex world of retail media measurement and data, streams June 13 at 11 a.m. ET. Get all the details and register to attend here.

For good measure, let’s recap. Twice monthly, join Threefold’s retail media experts here on LinkedIn for Unfold, where we add key context to retail media news and, as a bonus, debunk a pervasive myth about retail media. 

Sit back, relax and Unfold with Threefold! 

In this edition of Unfold, we’re debunking the myth that sharing data is something to fear. All too often, we hear that retailers (and other businesses and organizations that hold rich first-party data) are unwilling to share their data, fearing that in doing so, they will lose their competitive edge. There is, of course, reason to be cautious, but the truth of the matter is that data collaboration is essential to driving retail media into the future. 

The potential of first-party customer data is immense, especially in the digital realm in the era of cookie deprecation. But, collaboration and partnership are just as essential as the data itself. Businesses must unite to aggregate their first-party data, make it addressable and enhance the customer experience both in the physical and digital retail realms. True data collaboration enables retailers and brands to leverage data to craft relevant, meaningful and measurable advertising opportunities, boosting ad revenue, CPG sales and creating a more wholesome shopper journey. Data collaboration enables advertisers to better understand audiences and more precisely target them when planning campaigns.

That’s not to say all data should be shared without safeguards, both from a business perspective and a consumer privacy angle. At Threefold, we’ve spent 15+ years building and operating Retail Media Networks in the UK, where there are stricter laws about consumer data than in North America. But in our experience, retailers and other organizations that hold powerful first-party data stand to maximize profits if they share it where and when it’s appropriate. To alleviate privacy concerns, for instance, retailers and other businesses with media networks must onboard adtech solutions that offer tools like Data Clean Rooms, allowing robust data collaboration in a way that protects consumer privacy. 

The good news is, the market is starting to realize this. There has been a significant uptick in data partnerships in the retail media space, as we highlighted in the previous edition of Unfold. Kroger, for instance, recently partnered with Yahoo! to offer its first-party data to advertisers using Yahoo’s DSP. More of this is to come because, without true collaboration, it won’t be possible for Retail Media Networks to compete.

Read the entire newsletter by subscribing on LinkedIn.

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 380 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, Co-op Media Network, Morrisons Media Group, ASDA's LS Eleven Media Services and retail media for The Very Group.


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