Co-op Unveils Co-op Media Network, Paving the Way for Precision Advertising in Convenience Shopping

Co-op Unveils Co-op Media Network, Paving the Way for Precision Advertising in Convenience Shopping

(IN BRIEF) Co-op has unveiled the UK’s inaugural retail media network within the convenience sector, aiming to assist brands in accessing broader audiences and enhancing advertising relevance for its customer base. The Co-op Media Network combines the company’s in-house team with its longstanding agency partner Threefold, creating a unified brand identity. By leveraging its extensive network of frequently visited small stores, Co-op seeks to offer brands increased visibility for their advertising campaigns and tap into the distinctive impulsive nature of convenience shopping. This initiative expands Co-op’s media capabilities, enabling brands to strategically connect with convenience shoppers and optimize their advertising spend.

(PRESS RELEASE) MANCHESTER, 31-Jan-2024 — /EuropaWire/ —  Co-op, a British consumer co-operative with a group of retail businesses including food retail and wholesale, insurance, legal services, and funerals, has made a groundbreaking announcement today, unveiling the UK’s inaugural retail media network in the convenience sector, designed to assist brands in reaching broader audiences and enhancing advertising relevance for its shoppers.

As the leading convenience retailer in the UK, Co-op has introduced the Co-op Media Network, a strategic collaboration between its in-house team and its long-term agency partner, Threefold, an SMG agency that is the largest operator of retail media networks in the UK. This partnership aims to unify the brand identity of Co-op’s media initiatives.

The Co-op Media Network is poised to deliver a groundbreaking proposition that leverages Co-op’s unique strengths, rooted in the scale of its operations and the distinct nature of convenience shopping, distinguishing it from traditional big-box retailers.

Kenyatte Nelson, Chief Membership & Customer Officer at Co-op, expressed, “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.”

Co-op boasts a nationwide network of frequently visited smaller stores, providing brands with increased visibility for their advertising campaigns. The impulsive nature of convenience shopping missions presents untapped opportunities for brands to boost their sales. It’s worth noting that convenience shopping and supermarket shopping represent different purchasing occasions, with brands benefiting from executing media strategies targeting both.

Samuel Knights, CEO at SMG, emphasized, “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.”

In an era where retail media’s significance continues to grow within the broader marketing mix for brands, SMG’s proprietary software product, Plan-Apps, will aid brands investing in the Co-op Media Network. This tool will provide a comprehensive understanding of performance and the ability to measure the high return on investment that convenience media can deliver.

The newly formed Co-op Media Network Group’s advanced capabilities will empower brands to connect their goods and services with interested Co-op shoppers in offsite digital media channels. This approach will enable brand advertisers to enhance their media efficiency by focusing their advertising spend on shoppers more likely to engage with their products.

As the second most-visited grocer in the country, the convenience retailer boasts a nationwide footprint with nearly 2,400 convenience stores across the UK. In addition to its physical presence, Co-op operates a rapid delivery ecommerce business, an insurance arm, and maintains a loyal customer base.

Media Contact:
bryan.bell@coop.co.uk

SOURCE: Co-operative Group Limited