Convenience Retail Media Drives Sales and Awareness

  • Co-op’s retail media generates a fourfold sales increase
  • Positive halo effect on surrounding grocery shops
  • Research by Circana reveals key brand sales metrics
  • Global beer brand campaign saw a 12% rise in Co-op stores and 3% uplift in non-Co-op halo stores

Co-op has experienced a fourfold increase in sales due to its convenience retail media, according to research conducted with Circana. The study revealed a positive halo effect on both Co-op stores and nearby grocery shops. This can lead to long-term incremental sales uplifts of up to four times the initial sales. By analyzing campaign activations and store attributes, Circana built statistically significant test and control panels for Co-op and surrounding stores. The findings showed percentage increases in sales value, incremental sales, and return on ad spend. Co-op’s Dean Harris stated that retail media can generate higher incremental sales by influencing brand purchase decisions in non-Co-op stores through larger pack sizes in supermarkets.

Factuality Level: 8
Factuality Justification: The article provides relevant information about Co-op’s research with Circana on convenience retail media and its positive impact on sales. It includes data from a specific campaign and quotes from Dean Harris, head of media network at Co-op. The article is focused on the main topic without any significant digressions or irrelevant details.
Noise Level: 3
Noise Justification: The article provides relevant information about Co-op’s research on convenience retail media and its impact on sales, both in their stores and surrounding grocery shops. It also includes quotes from a representative of the company. However, it could benefit from more detailed explanations and examples to support the claims made.
Financial Relevance: Yes
Financial Markets Impacted: Co-op and surrounding grocery shops
Financial Rating Justification: The article discusses the positive sales impact of Co-op’s convenience retail media on both its own stores and nearby grocery shops, which can affect the financial performance of these businesses. This has implications for advertising strategies and revenue generation in the retail sector.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: No extreme event found in the text

Reported publicly: www.retailgazette.co.uk