Revenue: More than 25% of Instacart’s over $3 billion in revenue last year came from its ads business, according to 2023 Q4 earnings. Ad revenue was up 18% year-over-year.
CVS Media Exchange
Unique ad proposition: Loyalty program of health enthusiasts
With 9,000 locations across the U.S., pharmacy chain CVS has a store within 10 miles of 85% of Americans. With 74 million members to its loyalty program, it has audience data powering “omnichannel campaign experiences with precise targeting that connects digital and in-store activations, closing the loop on measurement,” a spokesperson told ADWEEK.
What’s new in 2024: CVS Media Exchange (CMX), which launched in August 2020, is prioritizing transparency and measurement this year, partnering with Pinterest and LiveRamp on a clean room solution so advertisers can track sales on Pinterest.
The health-focused retailer is adding 25 new premium publishers to its partner list each quarter this year, including category-specific sites like Health, SHAPE and Healthline. In the app and on CVS.com, CMX launched new ad formats including sponsored product carousels, custom brand shop pages and push messaging.
Revenue: CMX declined to share revenue information.
Kroger Precision Marketing
Unique ad proposition: Robust in-house data science team
With a loyalty program that captures 96% of Kroger shoppers, the national retailer has a top RMN slot in the grocery category. Founded in 2017 following the acquisition of cross-channel media solution 84.51°, Kroger Precision Marketing works with over 2,000 consumer packaged goods (CPG) brands.
Over the last seven years, the retailer has built an in-house data science and advertising business with hundreds of employees, letting it build custom programmatic audiences, connect to demand-side platforms (DSPs) and CTV platforms, and operate a self-service ad platform used by thousands of brands with real-time measurement.
“Many retailers claim to have a retail media network, but all they’ve done is outsource the monetization of their commerce sites,” Brian Spencer, marketing director at Kroger Precision Marketing, told ADWEEK. “Brands need retailers to operate with the same rigor and standards as actual media companies.”
What’s new in 2024: Adding media partners and capabilities, and building out pre-curated audiences that let advertisers tap into purchase signals for lifestyle segments like fitness, parenting, travel, and pet parents, Spencer said.
Revenue: Kroger Precision Marketing declined to share revenue information, but noted that Kroger’s CEO highlighted the importance of its RMN during the company’s most recent earnings call.
Orange Apron Media (Home Depot)
Unique ad proposition: Owning the homeowners‘ category
Launched in 2018, Home Depot’s newly rebranded Orange Apron Media (formerly Retail Media+) has a virtual monopoly on homeowners and professional contractors, as well as more than 2,300 retail locations across the U.S. Roughly 80% of the retailer’s consumers own a home, compared to 66% of Americans overall.
What’s new in 2024: Orange Apron Media is building out its audience targeting capabilities and in-store and non-endemic offerings. Next month, the retailer is doubling its in-store digital network from 50 to 100 stores, and testing in-store audio for the first time. The retailer has partnerships with The Trade Desk and TelevisaUnivision and certifications with Meta and Pinterest.
Revenue: Home Depot declined to share revenue information.
