Co-op has teamed up with data collaboration platform LiveRamp to “turbocharge relevancy for members and brands in its first-party marketing and retail media offering”.
The platform will enable the convenience retailer to leverage its first-party member data to enhance the targeting of paid digital media, offering shoppers more relevant advertising across its grocery, insurance and food delivery businesses.
The partnership will also support Co-op’s supplier base with more advanced opportunities to connect their brands to shoppers in offsite retail media channels. The company noted that the system would enable these suppliers to reduce their media waste by focusing their advertising spend on shoppers who are most likely to engage with their brands.
Co-op recently overhauled its membership offering and now has over 4.8 million active members. First-party datasets form the backbone of Co-op’s retail media offering, presenting “huge opportunities” for brands to drive growth and return on their advertising spend.
Kenyatte Nelson, chief membership & customer officer at Co-op, said, “At Co-op, we’re investing in our retail media business to ensure we’re connecting our members to the missions and categories they engage with and for our partner brands to have the insight they need to succeed in the omnichannel customer journey.
“With LiveRamp, we can manage everything in our own media sales house with easy activations and this new partnership will enable brands to deliver the best customer experience to Co-op members and customers, resulting in better campaign success”.
Hugh Stevens, MD UK at LiveRamp, added, “Co-op is a well-established and diverse business with massive potential to unlock in its first-party data. We’re delighted to be partnering with them as the business expands their retail media with privacy-focused data collaboration that everyone in the Co-op ecosystem will benefit from, helping brands to better understand their customers’ needs, market to them more effectively and truly understand the efficacy of their investment.”