Hy-Vee has partnered with Citrus Retail Media, a digital ad platform that helps monetize retailers' ecommerce and increase supplier product sales via sponsored search. Hy-Vee is the first U.S. retailer to work with Citrus.
Through the platform, suppliers will compete in a live auction for prime product positioning and targeted banner ad placements on Hy-Vee's site. Self-service options also allow suppliers to promote products through Hy-Vee and measure their success in real time.
"We are dedicated to providing an excellent customer experience while helping all of our suppliers grow ecommerce sales," said Kurt Hasson, group VP of ecommerce at West Des Moines, Iowa-based Hy-Vee. "Citrus checks all the boxes for us – it’s scalable, secure, easy to integrate, and delivers personalized experiences for our customers while providing a highly targeted, performance-based digital advertising tool for suppliers that are both large and small.”
According to Citrus, whose U.S. headquarters is in New York, CPGs have seen an average ROI in grocery at 2,000 percent and conversion rates above 60 percent.
“We are excited to have a grocery industry leader such as Hy-Vee as our first retailer launching in the U.S., which is one of the fastest-growing ecommerce markets in the world,” said Brad Moran, Citrus CEO. “We look forward to our technology contributing to their success and growth by helping to monetize its online presence and further improve the customer experience they provide."
Hy-Vee Inc. operates more than 245 retail stores across eight Midwestern states and has more than 80,000 associates. It ranks 12th on Progressive Grocer’s 2018 Super 50 list of the top grocers in the United States.