In-store media boosts promotions at The Co-operative
Research commissioned by The Co-operative shows that multi-media in-store activity can boost the additional sales uplift from promotions by an average of 25 per cent.
An independent econometric study, which analysed the additional sales generated over a two-year period in food stores operated by The Co-operative, showed that retail media communications attributed incremental sales of £13.4m.
Of all the leading food retailers, The Co-operative runs the most sophisticated retail media operation offering third party suppliers more than 40 different media channels.
The study, which was conducted by Data2Decisions on behalf of The Co-operative, showed that in-store radio was the most successful in-store channel registering 30 to 40 per cent higher uplift per £1 media value than the other measured channels.
Of the £13.4m incremental sales, radio accounted for £5.3m followed by shelf talkers which generated £4m compared with all the other channels, such as shelf wobblers, in-store sampling, till screen adverts, direct mail and leaflets accounting for £4.1m.
Susan Beetlestone, Head of Commercial Marketing at The Co-operative, said: “These results confirm what we have long suspected that in-store media is extremely cost-effective.
“Our media centre offers brands a unique opportunity to reach millions of regular shoppers and members, and this analysis shows that our in-store channels can deliver powerful results for advertisers.
“Retail media is an emerging route to market versus the more traditional channels, such as TV and press campaigns, and it’s good to see The Co-operative at the forefront of these developments.”