Supermarkets Adding ‘Media Company’ to the Résumé
Other retailers won’t be outdone by Walmart’s media efforts. The Kroger Co.’s Kroger Precision Marketing launched in 2017 under its 84.51° data science subsidiary. Earlier this year, the Cincinnati-based retailer introduced a new sales attribution capability powered by Microsoft PromoteIQ to provide brands full transparency into media performance for in-store and online sales results attributed to advertising campaigns.
Kroger and 84.51° can capture large amounts of data from shoppers both offline and online, and can use this data to provide a more personalized shopping experience and a better idea of what advertising to what targeted customers will lead to the largest number of purchases.
Gary Millerchip, CFO of Kroger, has said that he expects Kroger Precision Marketing to experience 50% growth in 2020. That’s a lot of additional revenue in a year when many CPG companies had to halt or cancel advertising campaigns amid the onslaught of the coronavirus pandemic and its resulting out-of-stocks.