Kroger’s advertising division is discovering the joy of retail media plus addressability means fewer ad impressions can generate the same sales impact.
“For two years now, we’ve seen that we have the ability to use that level of precision at scale,” according to Cara Pratt, SVP of Kroger Precision Marketing at 84.51°. “We can deploy 51% fewer ad impressions and deliver the same sales impact for brands. That’s a level of performance that has a layer of effectiveness tethered right into it.”
E-commerce households are seeing double-digit growth, higher basket values, and more instances of discovery in the online ecosystem, said Pratt in this video interview with Beet.TV.
$55 billion was forecast to be spent on US retail media in 2024, though that figure is expected to grow north of $100 billion in the next three years, representing a 20% annual growth rate.
For Pratt, the key to this growth is performance. “As we …