Vericast, Intel Partner On Context-Driven Retail Media Networks Solution
June 27, 2023 by Dave Haynes
The marketing solutions firm Vericast has partnered with Intel on what’s described as a new, programmatically-enabled digital in-store retail media network, having come out of a trial deployment in 50 c-stores.
The solution pairs Vericast’s “intelligent targeting technology” and Intel’s Edge software platforms “to deliver contextually relevant advertising and product information throughout the shopping experience. The collaboration is part of a larger effort to modernize retail and tap into the digitization of the physical store, noted as the next advertising industry megatrend.”
The pilot was a two-week test running eight different ad spots on in-store digital displays and beverage cooler screens in Dallas and New Orleans. “The purpose,” says PR, “was to validate the technologies and system, capture data and discover learnings in a real-world environment.”
The campaign delivered an estimated 350,000 verified customer impressions; captured zero-party data, or data that a consumer intentionally shares with a brand; tracked sales by SKU; measured consumer sentiment; and more. About 85% of consumers who visited a custom landing page created for the pilot opted in to provide data.
The in-store network leverages Vericast’s new privacy-centric contextual advertising solution to deliver relevant digital ads to consumers as they shop and measures their behavior with proprietary campaign data analytics. The hardware consists of multiple-sized display and cooler screen panels that transformed traditional surfaces into digital smart screens. These surfaces utilize IoT sensors and computer vision technology to capture anonymized analytics and enable Vericast to measure consumer engagement in real-time.
“The digitization of in-store signage and its use in programmatic advertising is a natural extension of Vericast’s commitment to relevant, responsible and measurable omnichannel impact,” says Hans Fischmann, VP Product Management at Vericast. “Vericast provides the technology and know-how to engage with any consumer at any point on the path to purchase, whether online, on-the-go or in-store – all while adhering to and respecting consumer privacy demands.”
Recent figures estimate that retail media has grown into a nearly $40 billion market reaching primarily digital audiences. Yet in-store audiences are even larger. Among 13 leading brick-and-mortar retailers in the U.S., 11 had bigger in-store audiences than online, with the average store audience being 70% larger, according to Placer.ai and Comscore Media Metrix Multi-Platform data.
Vericast has recently expanded its in-store retail media network with multiple regional grocery chains, fast casual restaurants, and a 1,700-store commitment from a global convenience store brand.
The provided visual shows a conventional flat panel display mounted on a chiller door, but a Vericast video suggests a real deployment would involve transparent LCD doors, as well as other in-store displays.
I can’t imagine a retailer being happy with conventional screens that would block the view inside a chiller compartment, but I can also appreciate using proper transparent LCDs customized to fit would have been a huge cost.