Ocado has launched a groundbreaking retail media service, signalling a significant shift in its business strategy. The service aims to provide brands with measurable growth opportunities using sophisticated advertising methods. It features tools for campaign management and analytics, fostering a data-driven advertising environment. The initiative seeks to enhance personalised customer experiences through various media channels. Ocado is positioning itself as a leader in UK grocery advertising innovation.
Ocado has taken a bold step forward by launching its innovative retail media service, which it describes as “a new chapter in its journey”. This initiative, known as Ocado Ads, is designed to offer brands the ability to “drive measurable growth”. At its core, the service is built to provide customers with more relevant advertising and tailored experiences.
Ocado Ads will deliver a comprehensive suite of campaign planning and management tools. In collaboration with retail media platform Zitcha, these tools will enable advertisers to plan and manage their campaigns effectively. The service will encompass advertising options across a variety of channels, including onsite, offsite, social media, and connected television, ensuring broad audience reach.
A defining feature of Ocado’s new service is the integration of insights and analytics, facilitated by Ocado’s Beet platform. Advertisers can access these analytics to refine their strategies and improve campaign performance. Moreover, Ocado’s NPD Lab stands out as it promises “the fastest NPD in the UK”, providing a competitive edge to advertisers seeking to test and evaluate new product developments.
In a statement, Jack Johnson, Head of Ocado Ads, emphasised the company’s commitment to challenging the traditional retail media norms. He stated, “Ocado Ads is raising the bar for retail media.” Johnson encouraged partners to embrace this new service as a key growth engine, highlighting Ocado’s history of innovation and disruption in the industry.
The UK retail media market is poised for substantial growth, with ad expenditure predicted to exceed £4 billion this year. This figure is forecasted to nearly double by 2027, marking the UK as the leading market in Western Europe. Ocado’s latest venture places it at the forefront of this burgeoning industry, ready to capitalise on the shifting dynamics of grocery advertising.
Ocado’s introduction of its retail media service highlights its strategic focus on innovation and customer-centric advertising in the retail sector.
