CitrusAd’s API Attracts Media Spend to Leading Grocers on GroceryOne
CitrusAd, a leader in retail media technology, unveiled GroceryOne, a digital platform that connects leading grocers across the U.S. – enabling brands and agencies to manage retail media campaigns with national coverage from a single source. Brands can engage with the nation’s most loyal grocery shoppers across multiple retail accounts on GroceryOne. With the most trusted first-party retailer data to reach high-intent shoppers – GroceryOne is the smarter way to win in retail media.
GroceryOne is set to double in size by the end of 2023. Currently, it represents massive retail sales of $60B, 71% higher than grocery sales via Instacart – which in the midst of the pandemic, was reported to be on track to process more than $35B in grocery sales as of April 2020. GroceryOne's growing sales strength spans both online and in-store which is a significant difference from Instacart's online-only grocery sales. GroceryOne’s sales power is even higher than the grocery sales of Instacart, Amazon.com and Whole Foods combined. Amazon.com and Whole Foods annual grocery sales totaled $18B as of mid-December last year, which represents 2.4% of the $750B U.S. grocery market according to research firm Numerator.
Brands can engage with high-intent shoppers throughout the path to purchase to drive sales with sponsored search/product ads, banners, brand pages and more. CitrusAd’s open API has allowed marketplace enterprises such as Pacvue to directly integrate, enabling CPG companies and their agencies to buy through convenient methods they already utilize. CitrusAd’s technology is known for its relevancy engine that leverages retailer’s first-party data to make ads more personalized and thus more effective, providing better return on ad spend (ROAS). GroceryOne helps brands manage and scale that technology, providing nationwide coverage to reach shoppers buying groceries online and at nearly 2.5K grocery stores. All GroceryOne media is linked directly to consumer purchases, reported by each retailer in real-time for transparent, closed-loop measurement. Analytics are provided on each brand’s campaign dashboard and can be viewed for any of the retail accounts on GroceryOne, for any SKU.
Retailers on the GroceryOne platform benefit from expanded reach and instant access to advertising agencies and brands that utilize the platform for national coverage. Attracting ad dollars through the platform results in incremental media revenue for the retailers while increasing store sales and growing product categories at the same time.
GroceryOne has a high average order value (AOV) of $156 and brands have the ability to choose branded or generic words for keyword search terms. Some of the many benefits include a low barrier to entry even for new and starter brands. CitrusAd offers a convenient managed service or a self-serve platform. Campaigns have proven to drive both online and in-store sales and grow lifetime customer value. Through CitrusAd’s relevancy algorithm, brands reduce ad waste by serving to shopper audiences that have a higher likelihood to purchase that particular product at that particular time. Key insights are made possible through the retailer’s first-party data while CitrusAd’s technology allows real-time activation on big-data at scale. Additionally, and perhaps even more impressively, they have a built-in out-of-stock feature that prohibits your ad from appearing if your product is not available for purchase at the store where the customer is shopping. That is a safety net of sorts, so you are not spending money on ads if you cannot get a return. Nor is a retailer placing your ad, and wasting the media space if they don’t have your product to sell.
“CPG advertisers now have a platform designed around the grocery industry. An easy execution to reach millions of shoppers generating higher visibility in the shopper mindset with closed-loop analytics that measure ROI in real-time by retailer. Relevant, retail media is working. Short-term it is helping brands impact regional online and in store sales. Longer term it is helping grow lifetime customer value in a vast omnichannel manner,” said Lauren Malaguti, VP, GroceryOne Media Sales at CitrusAd.
Many experts expect retail media ad revenues to top $50 billion this year surpassing YouTube and Netflix. In line with CitrusAd’s vision, it was recently announced that offsite media will also be available via the CitrusAd unified platform, powered by Epsilon which can be tied directly to retail sales with measured ROI. For more information on the leading, single-source for grocery industry retail media, visit grocery.one