The number of traditional retailers developing their online media platforms continues to grow, with giants such as Walmart, Target and Kroger investing substantially and profiting in return over the past couple of years. Now, today’s landscape makes food retailers both big and small even more attractive to CPG companies and advertisers to execute their media campaigns.
Grocery e-commerce sales have skyrocketed during the COVID-19 pandemic.
Key Takeaways
The surge in online shopping during the pandemic offers a huge opportunity for an alternative revenue stream in the grocery industry, which is characterized by tight margins and minimal growth.
Walmart, Kroger, Target and Albertsons are among the major retailers to roll out media platforms, either in-house efforts or partnerships with e-commerce advertising companies, to offer analytics for advertisers.
Independent grocers — even single-store operators — can avail themselves of similar services from providers such as Freshop.
August 2019 saw only $1.2 billion in online pickup and delivery sales, while August 2020 saw $5.7 billion, according to a Brick Meets Click/Mercatus grocery shopping survey. This surge — that was projected to take years instead of months — means a huge new audience for retailers’ digital properties and their supplier partners.
These new eyeballs offer a huge opportunity for an alternative revenue stream in an industry characterized by tight margins and minimal growth.
This story is from the October 2020 edition of Progressive Grocer.
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This story is from the October 2020 edition of Progressive Grocer.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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