Kroger Precision Marketing has added Snapchat to your network retail media with the goal of allowing advertisers to use Kroger’s own data to target consumers with Snap or Story ad campaignshas reported Insider Intelligence. kroger continues like this with its clear commitment to the retail media. The company also recently announced the addition of TV and video inventory to its network.
According to a study published last year, Snapchat has more than 363 million daily active users with a global purchasing power of 4.4 trillion dollars (4.2 trillion euros) and reaches more than 75% of young people aged 13-34 in more than 20 countries, representing more than 50% of global advertising spending. In addition, it is anticipated that Snapchat advertising revenue will reach 2,230 million dollars (2,178.15 million euros) this year, 15% more.
Given the rise of retail media, Kroger is not the only one that is betting on this discipline. Everyone from Walmart Y Lowe’s until DoorDash, are advancing in Retail Media in order to capitalize on brands’ reliance on consumer data. This is a good time for companies since, according to the latest studies, it is expected that advertising spending in Retail Media reaches 37,390 million dollars (36,520.78 million euros) this year and will experience double-digit growth through 2024.
A few weeks ago, kroger announced its intention to buy albertsons in an agreement that values the company at 24,600 million dollars (24,969.88 million euros), one of the largest agreements in the history of the supermarket sector in the United States. A possible merger that makes tremble Walmart and which, according to analysts, would give rise to one of the main ‘players’ in the sector of retail media. But, Kroger’s first foray into Retail Media came in 2015 when he acquired Tesco’s data analytics business, Dunnhumby USA.
The grocery store continued to expand its network by launching its precision marketing division in 2017 to serve targeted ads on its websites and apps. Along these years, kroger has boosted its Retail Media division by making its data much more accessible to brands, building partnerships with platforms like Roku and Pinterest, among others. In fact, last year, Kroger revealed that he was working with approximately 2,000 brands.
Nowadays, Walmart, Amazon and instacart dominate the Retail Media sector with a market share of 25.5%, 22% and 20.6%, respectively, according to Insider Intelligence. Now the Kroger and Albertsons merger it would create a fourth market leader with more than 13% market share.