Co-op’s Convenience Retail Media Shines
- Co-op convenience retail media is four times more effective than larger campaigns
- Small stores have twice the visibility and triple the attention compared to large stores
- Retail media is the second most effective channel for brand recall
- In-store advertising now seen as a dual-purpose channel for short-term sales and long-term growth
A study by Co-op and Lumen Research revealed that convenience retail media in smaller stores is four times more impactful than campaigns in larger supermarkets. Smaller Co-op stores, around 2,000sq ft, offer twice the visibility of advertising, triple the attention, and quadruple brand recall compared to larger stores (14,000sq ft+). The research used eye-tracking glasses to monitor shopper behavior and found that retail media is the second most effective channel for brand recall, surpassing traditional methods like out-of-home, online banners, and social. Co-op’s Kenyatte Nelson said in-store advertising now drives both short-term sales and long-term growth.
Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about the study conducted by Co-op and Lumen Research on the impact of convenience retail media compared to larger stores. It presents the findings of the study, including statistics and quotes from a relevant source. However, it contains some minor repetitive information and includes a brief mention of unrelated news at the end.
Noise Level: 3
Noise Justification: The article provides relevant information about the effectiveness of retail media in smaller convenience stores compared to larger supermarkets and highlights a study conducted by Co-op and Lumen Research. It also mentions Tesco’s store wrap advertising with PepsiCo as an example of retail media growth in the grocery sector. However, it briefly diverts into unrelated information about Haribo opening a new store without providing any significant insights or relevance to the main topic.
Financial Relevance: Yes
Financial Markets Impacted: No
Financial Rating Justification: The article discusses the effectiveness of retail media in smaller convenience stores compared to larger supermarkets, which could impact advertising strategies and potentially influence marketing budgets for companies. It also mentions Tesco’s store wrap advertising deal with PepsiCo. These topics are related to financial matters as they involve marketing and advertising investments.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: No extreme event found in the text.
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