One of the highly-publicized shifts in consumer behavior during COVID-19 has been an increase in online shopping, with experts predicting that up to 30% of global retail sales will come from digital channels this holiday season. To capitalize on this shift, marketers are turning to effective and measurable ecommerce channel advertising to reach active shoppers in online stores. Since 2017, Kenshoo has been pioneering this space and enabling a growing list of major retailers, including Amazon and Walmart, to bring their advertising offerings to brands at scale.
Sponsored Product Advertising on Target
With nearly 1,900 stores in the U.S., Target is one of the country’s biggest retailers. Target reaches millions of guest profiles backed by 30M weekly in-store shoppers and even more visiting Target.com, to shop, browse, or plan their next Target trip. Target’s digital business is also on the rise, with 155% digital sales growth in Q3 in 2020. Via its media company, Roundel, Target offers an ecommerce channel advertising solution to help brands better connect and engage shoppers with non-disruptive, native ads. Roundel applies Target’s rich customer insights to create smart, personalized campaigns that connect its guests to information and offers they’ll find most relevant.
Shoppers are clicking on those ads and finding them useful. According to Roundel, in Q2, average conversion rates on sponsored product ads increased by 22% quarter-over-quarter with average ROAS increasing by 17% during the same period. This is a unique opportunity for brands to increase reach, foster loyalty, and drive higher ROI from advertising with a growing audience of shoppers, many new to ecommerce.
Kenshoo + Roundel
Using the Criteo Retail Media platform API, Kenshoo and Roundel empower brands to now reach more customers and maximize digital sales with biddable sponsored product ads on Target.com. It reflects the increasing advertiser interest—and investment—in ecommerce advertising and helps to expand an open retail media ecosystem for the fastest growing marketing channel in the world.
Kenshoo is a unified platform for brands and their agencies to plan, manage, and measure Target, Walmart, Amazon, and Instacart advertising, alongside paid search engine and social media programs, in one place. Kenshoo’s advanced, enterprise-grade solutions leverage real-time market signals to drive data-driven insights and optimize performance at scale. The platform powers 1M+ campaigns and $7B+ in annualized advertising spend for 2K+ advertisers including Kimberly-Clark, Diageo, and LG Electronics.
Who is your technology partner for the holidays?
The world of marketplace advertising is rapidly changing the shape of online shopping and providing ecommerce marketers with new opportunities. Kenshoo can help you reach active shoppers with one platform for launching and scaling advertising success across the biggest and most important online retailers.
Leading brands and agencies depend on Kenshoo’s retail intelligence platform to holistically plan, activate, and measure performance advertising at scale.
Contact us today to set up a quick demo to see how we can help you make the most of this year’s holiday season.