Co-op has today announced the launch of the UK’s first Retail Media Network in the convenience sector to help brands reach new and wider audiences while improving advertising relevancy for its shoppers.
The UK’s leading convenience retailer has launched the Co-op Media Network to bring together Co-op’s in-house team and its long-term agency partner, Threefold – an SMG agency who are the largest operator of RMNs in the UK – under one recognizable brand identity.
The Co-op Media Network will deliver a new proposition that capitalizes on Co-op’s strengths relating to the scale of its operations and the uniqueness of convenience shopping, compared to traditional, big-box retailers.
Kenyatte Nelson, Chief Membership & Customer Officer at Co-op, said: “This is a momentous move for Co-op and one that will solidify our position in the retail media sector. Co-op is a leader in the convenience market and we will use our strengths to replicate our successes as a media owner.”
“Co-op’s nationwide network of frequently shopped smaller stores drives increased opportunities to see for brands’ advertising campaigns, and the unique impulsive nature of convenience shopping missions creates untapped occasions for brands to grow their sales. Convenience shopping and supermarket shopping are different purchasing occasions, and brands will see greater sales and brand-building benefits by executing media against both.”
Samuel Knights, CEO at SMG, shared: “This moment marks a true evolution in Co-op's media capabilities. There's now an ever-growing opportunity for brands to strategically connect with a distinct group of convenience shoppers with precision, ensuring the right messages are received by the right customers.
“As the importance of retail media continues to grow within the broader marketing mix for brands, SMG's proprietary software product, Plan-Apps, will help brands investing in Co-op Media Network to gain a comprehensive understanding of performance and measure the high ROI that convenience media can drive. We're so excited to see this come to life.”
The evolved capabilities of the newly formed Co-op Media Network Group will enable brands to have advanced opportunities to connect their goods and services to interested Co-op shoppers in off-site digital media channels. Enabling brand advertisers to improve their media efficiency by focusing their advertising spend on shoppers who are more likely to engage with their products.
As the second most-visited grocer in the country, the convenience retailer has a nationwide footprint with almost 2,400 convenience stores across the UK, a rapid delivery e-commerce business, an insurance arm and a loyal customer base.
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.
SMG is by far the UK’s largest player in the accelerating retail media space combining un-matched retail media investment expertise Capture, the market-leading retail media management technology platform Plan-Apps and Threefold the leading consultancy and managed service provider for retail media networks in the UK and North America.
As an independent retail media pioneer SMG’s data expertise and technology innovations are driving the growth and evolution of connected commerce and in-store retail media space, offering true omnichannel capabilities. Now one of the fastest-growing British media and technology companies, SMG works with more than 800 CPG brands and operates retail media networks for Asda, Boots, Co-op, Morrisons, The Very Group and Signet.
Co-op is one of the world’s largest consumer co-operatives with interests across food, funerals, insurance and legal services. Owned by millions of UK consumers, the Co-op operates almost 2,400 food stores, over 800 funeral homes and provides products to over 5,000 other stores, including those run by independent co-operative societies and through its wholesale business, Nisa Retail Limited.
Employing almost 60,000 people, the Co-op has an annual turnover of over £ 11 billion and is a recognized leader for its sustainability, social goals and community-led programs. The Co-op exists to meet members’ needs and stand up for the things they believe in.