Exclusive Q&A: Hy-Vee explains retail media network strategy
Regional Midwest grocery/convenience chain Hy-Vee Inc. is connecting advertisers with shoppers across multiple platforms.
Chain Store Age recently spoke with Jess Enos, senior VP of retail media at Hy-Vee, about the retailer’s recently launched full-scale retail media network, RedMedia. Hy-Vee RedMedia is designed to allows the company’s advertising partners to reach specific consumers across multiple channels, with the goal of creating robust omnichannel marketing campaigns.
RedMedia enables advertisers to reach shoppers through Hy-Vee digital platforms, in-store advertising (including in-store audio supported by Vibenomics), and brand-safe sites. Participating brands can then hone their messaging based on purchasing behavior and brand preferences, creating a personalized shopping experience for customers.
Enos discussed the rationale for Hy-Vee’s decision to enter the retail media network space, as well as the benefits it provides and her view of the broader landscape.
Why did Hy-Vee decide to launch a retail media network?
The retail media landscape is changing at a rapid pace, and our customer needs are more diverse than ever before. Customers have come to expect a more personalized shopping experience.
And we have offered advertisers ways to digitally connect with our customers for quite some time, but never had done so from a formal retail media perspective. Our development of the RedMedia network solves for that. It's a way for us to deepen the relationships we have with our supplier partners and create new, powerful ways for them to connect with our customers, whether that's in-store or online.
Why did you decide to partner with Vibenomics to help support your network?
We often talk about making shopping fun and engaging for our customers, all while helping them find solutions while they're in store. In-store audio technology from Vibenomics plays into this concept of bringing retail theater to life for our customers, and we have seen that it helps shape and influence customer decisions in the store.
Are there future plans for your retail media network that you can discuss?
Hy-Vee’s teams have put a lot of work into refreshing our advertising and marketing technology stack and our reporting capabilities. You'll also see us in the coming months continuing to expand our offerings from the in-store perspective.
What are your thoughts on the current state of the retail media network landscape?
The retail media network industry is still in a tremendous growth mode. It's also really complex as more networks seem to come online every month. And there seems to be a very big focus on standardization, attribution and measurement.
So it really goes back to this challenge for retailers to think and act more like media companies. It gives Hy-Vee as a retail media network provider to be on the cutting edge and differentiate ourself. I think we will continue to see other retailers enter the market, especially from a super-regional perspective.
Editor’s Note: Headquartered in West Des Moines, Iowa, Hy-Vee Inc. is an employee-owned corporation operating more than 280 retail stores across eight Midwestern states – Iowa, Illinois, Missouri, Kansas, Nebraska, South Dakota, Minnesota and Wisconsin.