Albertsons issues framework for retail media networks
Albertsons Companies seeks to standardize how retail media networks operate.
Albertsons Media Collective, the retail media arm initially launched by the grocer to deliver branded ad content to its shoppers in November 2021, is sharing a preliminary framework to standardize specifications, methodologies, terminology and disclosures across retail media networks.
The first version of the framework introduced by Albertsons Media Collective concentrates on four areas: product characteristics, performance measurement, third-party verification and capabilities. Retail media networks provide retailers’ brand partners with direct promotional access to shopper. Typically, the networks deliver targeted ads to segmented consumers via channels such as in-store digital displays, as well as online advertisements and connected TV. They emerged from the grocery sector, which remains the primary vertical where retail media networks are found.
The framework will be finalized after pressure-testing industry-wide priorities and ensuring executional feasibility. Guided by an advisory group, this framework will also expand and evolve further to support key initiatives by the Interactive Advertising Bureau (IAB).
The Retail Media Standardization effort is open to industry stakeholders to join this initiative.
“While retail media is booming, the lack of standardization has produced an unnecessarily complex, inefficient and costly ecosystem. For retail media to achieve its full promise, we must tackle the issue of standardization head on,” said Kristi Argyilan, senior VP of retail media for Albertsons Companies. “To ensure the survival of this industry, we must come together toward a greater goal. We believe this framework will serve as a starting point for creating a unified approach to retail media standardization. Setting a new gold standard is the first stepping stone to revolutionizing how advertisers, agencies and retail media networks work together.”
Albertsons offers advertisers targeted media opportunities
Albertsons Media Collective is designed to open up native display and sponsored product inventory throughout the company’s websites. Media opportunities on the platform include advertising placements on Albertsons-owned properties such as its homepage, department, category, sub-category, email, search, app, and pharmacy, as well as on Albertsons’ off-site targeted ad placements.
Brand campaigns provide CPG advertising partners with access to positions across Albertsons Companies’ websites and apps. Total audience includes over 100 million consumers across the country, including more than 2,200 store locations and over 27 million members of the company’s Just for U loyalty program.
See Albertsons Media Collective’s new frameworks whitepaper.