Fareway Stores has partnered with GrocerKey to power the grocer's retail media program for brand partners. (Photo Source: Facebook)
Fareway Stores Inc. is the latest retailer to join the GrocerKey Retail Media Network. Embedded into GrocerKey’s white-label e-commerce platform, GK Retail Media drives incremental revenue for retailers while offering brand and advertising partners a combination of cross-channel media to engage target customers. On average, GK Retail Media brand partners experience 40% incremental growth and retailers see a 90% increase in incremental promotional funds with the introduction of shopper marketing and digital budgets from brands, according to GrocerKey.
GK Retail Media has grown significantly over the past year, with hundreds of brands now active on the network.
“With GK Retail Media, regional and independent grocery retailers across the U.S. and Canada have access to new revenue-generating opportunities, previously only enjoyed by the largest retailers,” noted Jeremy Neren, co-founder and CEO of Madison, Wis.-based GrocerKey. “We look forward to working with Fareway on their journey to deliver more value for their customers and brands, while creating novel ways to attract new shoppers and win more trips.”
Features of the GrocerKey Retail Media Network are as follows:
An ecosystem of connected media that delivers personalized, brand-safe campaigns at scale across on-site, off-site and owned media channels.
Data-driven targeting and insights to engage existing customers and find new ones based on their browsing and buying behavior; products such as automated product listings and product recommenders encourage product discovery and repeat purchases.
Closed-loop reporting to enable brands to understand sales lift by connecting media investment to sales, leading to better business decisions during and after campaigns.
GrocerKey Managed Services offering expert support to create and activate tailored programs to meet business goals and key performance indicators.
“We’re excited to partner with GrocerKey to power our retail media program for brand partners,” said Aaron Irlbeck, SVP digital commerce at Boone, Iowa-based Fareway. “It is designed to give brands a streamlined way to share shopper programs with Fareway customers both on and off our Shop.Fareway.com platform – a great step forward toward building a leading digital grocery experience.”