Ad Tech Insights
Thrive Market Joins The Ad Business
The story: Thrive Market, the membership-based online grocer known for its focus on natural and sustainable products (and likely familiar from their 1.5M members and various social media sponsorships), has officially entered the retail media space with the launch of its own ad business. The company is leveraging Instacart’s Carrot Ads technology, allowing brands to place ads directly on Thrive Market’s website and app. Thrive joins a growing list of retailers - including Sprouts Farmers Market and Northest Grocery Inc. - that are utilizing Instacart’s ad solutions to build their own retail media networks.
In the coming months, Thrive Market’s brand partners will be able to run campaigns using Instacart’s sponsored product and display ad solutions. Brands will also have access to self-service tools, and those already running Instacart Ads will automatically extend their reach to Thrive’s platform, engaging its health-conscious audience. For consumers, Thrive Market’s chief merchandising officer, April Lane, highlighted how this partnership can help members “find products that fit their family’s needs, reducing the cognitive load and making shopping easier.”
The takeaway: Thrive Market’s entry into retail media highlights the increasingly significant role e-commerce platforms play as advertising powerhouses and this partnership is part of a broader trend where niche grocers and marketplaces are embracing ad platforms.
Extra Industry Insights
The Interactive Advertising Bureau (IAB) released an update to their 2024 Outlook Study. Here are the findings:
- Media buyers are revising their ad spend forecasts, now projecting an 11.8% increase for the year, up from the 9.5% forecasted in November 2023.
- Connected TV (CTV) is expected to see the most growth among media channels, with a projected increase of 18.4%, followed by social media at 16.3%, and paid search at 13.1%.
- Retail media is continuing its upward trajectory, with YoY growth now projected at 25.1%, up from the previously estimated 21.8%.
- Cross-channel measurement remains a top concern, especially for large advertisers, as media convergence continues to accelerate.
Kevel Catch-Up
PUBLISHED: Kevel Blog “Key Takeaways From ATS London”
Earlier this September, ATS London gathered over 600 professionals from 17+ global markets for a day filled with insights and expert-led sessions. One of the highlights was Kevel’s panel, “Is In-Housing Your Retail Media Ad Tech The Path To Success?”, led by Neil Cameron, Kevel’s VP of Marketing.
Check out our full article here for all the insights and takeaways.
Keep Learning
WATCH → In one of the most highly-anticipated sessions of the year, The Trade Desk CEO, Jeff Green, joined Ciarán O'Kane on stage at ATS London. Green discusses how TTD remains a programmatic trailblazer, Google, CTV, and so much more.
READ → On Tuesday, the rideshare company Lyft announced a new slew of partnerships to boost its measurement capabilities for ads across its network.
LISTEN → It’s a misconception that Redditors categorically dislike advertising, says newly hired VP of Ad Product Management Jyoti Vaidee. In fact, 60% of Redditors want brands to participate in communities, so long as their interactions are relevant and respectful. (Listening time: 52:35).
