Lidl’s owner Schwarz Group has entered a partnership with advertising technology firm The Trade Desk to help boost its retail media business.
The partnership, inked between the firm and the retail giant’s advertising division Schwarz Media aims to use the German discounter’s online shop to reach consumers and measure the success of advertiser’s campaigns on the open internet.
Through this new partnership, advertisers will be able to measure the influence of digital ads on direct sales and therefore optimise campaigns in close to real time.
According to forecasts by IAB Europe, retail media is becoming one of the fastest growing sectors within the digital advertising industry, with a revenue potential of €25 billion (£21 billion) by 2026.
As a result, the advertising impact on the fast-growing connected TV and digital out-of-home channels can also be measured and optimised more effectively.
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The Trade Desk chief strategy officer EVP Samantha Jacobson said: “Retail media presents an opportunity for marketers to embrace data-driven advertising on the open internet, with the goal of providing them with better targeting and performance measurement.
“Through our new partnership with Schwarz Media, advertisers can now activate this rich retail data that will enable their campaigns to reach the right audience, while providing measurement to demonstrate the impact of their marketing activities.”
Schwarz Media general manager Robert Jozic added: “Retail media takes marketing on the open internet to a new level, offering consumers real added value through the display of significantly more relevant advertising.
“It is our ambition to implement this development in accordance with the detailed German data protection requirements and to align it with significantly higher standards than usual in the market.”
“We are pleased to be working with The Trade Desk, who are pioneers in the industry.“
It comes as a number of retailers expand their retail empires, such as Tesco’s partnership with technology solutions company Givex to launch a programme to digitally transform its UK cafés.