Grocery Giant Amplifies Advertising Capabilities
- Iceland partners with GIG Retail for enhanced retail media offering
- Thousands of digital screens to be added in Iceland and Food Warehouse shops by 2025
- Former buyer Adam Smith promoted as head of retail media
- Grocery giant collaborates with software firm Stratacache for additional screens
- Iceland Retail Media claims ‘one of the most extensive, full-funnel retail media portfolios’ in market
- Potential to reach 9 million shoppers
- Iceland joins Co-op and Tesco in investing in retail media offerings
Iceland, a leading grocery retailer, is strengthening its retail media proposition through a partnership with marketing agency GIG Retail. The company plans to install thousands of digital screens in Iceland and Food Warehouse stores by 2025, complemented by a purpose-built platform for managing the initiative. GIG Retail will facilitate non-endemic brands to launch campaigns targeting Iceland’s shoppers, with Smart Energy GB already live on its website. Following the establishment of its first dedicated retail media team earlier this year, Iceland has promoted former buyer Adam Smith as head of retail media for end-to-end functions across shops, online channels, and brands. Smith expressed excitement about the collaboration, stating it would deliver strong results for suppliers by introducing innovative methods. Additionally, Iceland Retail Media anticipates reaching nine million shoppers with its extensive full-funnel portfolio upon full network activation. The supermarket will host a retail media conference on May 13 to attract more partners. Iceland joins Co-op and Tesco in investing in retail media offerings.
Factuality Level: 8
Factuality Justification: The article provides accurate and relevant information about Iceland’s partnership with GIG Retail to enhance its retail media proposition, including details on their plans for digital screens and collaborations with other companies like Stratacache. It also mentions the supermarket’s retail media conference and compares it to similar moves by Co-op and Tesco. However, there is a brief mention of Frasers Group at the end which seems unrelated to the main topic.
Noise Level: 3
Noise Justification: The article provides relevant information about Iceland’s partnership with GIG Retail and its plans to expand its retail media proposition. It also mentions the supermarket’s collaboration with Stratacache for adding more screens in its shops. However, it lacks in-depth analysis or long-term trends exploration, accountability, scientific rigor, and actionable insights.
Financial Relevance: Yes
Financial Markets Impacted: No
Financial Rating Justification: The article discusses Iceland’s partnership with GIG Retail to expand its retail media proposition, which includes adding digital screens in its stores and setting up a purpose-built platform. This is related to the supermarket industry and could potentially impact companies within that sector.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: No extreme event mentioned in the article
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