LiveRamp Partners with Co-Op to Enhance Retail Media
To improve its retail media offering, LiveRamp, the top data collaboration platform, announced an alliance with Co-op, one of the biggest consumer cooperatives in the United Kingdom. The collaboration will increase member and brand relevance. Moreover, it will make use of its extensive first-party member data to raise the level of complexity in paid digital advertising targeting. Additionally, more targeted advertising across its grocery insurance and fast-food delivery companies will benefit members. Therefore, by concentrating their advertising expenditure on customers who are more likely to interact with them, firms employing Co-op retail media would be able to reduce their media waste.
LiveRamp – Co-op partnership for advanced retail media advertising
The member-owned company will be in a better position to support its assortment of suppliers by giving them more chances to connect with Co-op shoppers who are interested in their brands through off-site retail media channels. As the second-most frequented grocery chain in the nation, Co-op has more than 2,400 convenience stores across the U.K. It is a fast-growing e-commerce operation and has a devoted following of customers. These suppliers will benefit from a decrease in media waste. Demand for retail media opportunities is increasing due to a multitude of issues, including the impending cookie apocalypse in 2023. The appeal of first-party data held by supermarkets, such as EPoS and loyalty data, which enables advertisers to be more targeted in their marketing activities, is likely to phase out third-party cookies in Google Chrome.
Read More: LiveRamp – Epsilon Pave Way for Privacy-Compliant Advertising
The Co-op’s recent retail media overhaul
The Co-op collaborated with 450 businesses and nearly 2,000 campaigns in 2022. Additionally, the company redesigned its membership program in April and claimed to save customers up to £300 annually using the program. Since then, weekly sign-ups have tripled, and it now has more than 4.8 million active users. Several companies, including Walmart, Carrefour, Danone, Kimberly-Clark, and Boots are among LiveRamp’s clients in the supermarket industry. The core of Co-op’s retail media offering will be rich first-party datasets, providing enormous opportunities for companies to spur growth and increase the effectiveness of their advertising expenditures. The retailer’s first priority is protecting the interests of Co-op members while exercising due diligence in data ethics and data privacy. LiveRamp’s data collaboration platform allows for privacy-conscious data sharing without revealing any personally identifiable information.
Here’s what they said
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 its 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.
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