In a significant development in the tech world, Australian retail media platform Zitcha has launched a major partnership with international out-of-home advertising platform Broadsign.
This collaboration is set to empower retailers to maximise the potential of their in-store digital display networks while simultaneously offering their advertising partners the ability to view, select and book available in-store inventory. They can also review their campaign performance in conjunction with the retailer's other media channels.
This cooperative endeavour between Zitcha and Broadsign seeks to optimise the global in-store retail media market realm. The fusion of their respective technologies allows retail brands and their advertising partners to develop comprehensive on and off-site retail marketing strategies. Furthermore, they can better utilise the retailers' first-party data for more effective targeting of consumers and attribution reporting.
The significance of this integration should not be underestimated as, even today, 80% of purchases are still made in physical shops, while retail media is projected to reach $125.7 billion in 2023. This strategic alliance means a clearer understanding of returns on advertising spend (ROAS).
Troy Townsend, CEO of Zitcha, shed light on the potent potential of in-store retail media, "The ability to operate in-store screens and report on transactions, akin to other marketing channels, will be a revolutionary step for brands contemplating how to allocate their out-of-home budgets."
Troy Townsend added, "Combining Zitcha's consolidated retail media platform and our native Broadsign integration, global retailers seeking an extensive retail media solution can enhance their in-store screens. This will catalyse an increase in revenues and sales for their respective advertising partners."
Adam Green, SVP of Strategy at Broadsign, echoed Townsend's sentiments, asserting that, "Out-of-home and retail media are converging, and our collaboration with Zitcha enables us to dismantle the obstacles to a more encompassing retail media advertising experience."
Adam Green continued, "Our mutual efforts will assist retailers and advertisers to capitalise on omnichannel advertising across retail media network inventory, inclusive of in-store displays. It allows them to engage audiences en route to - and at - the point of sale while providing retailers with a streamlined method to monetise their in-store display networks."
Broadsign, an out-of-home advertising technology, collaborates with retail magnates across the globe, including Auchan, Ahold Delhaize, Coles, and Woolworths, to expand, manage and sell digital and static out-of-home inventory through automated software, intelligent campaign tools, network operations, and programmatic advertising.
This partnership between Zitcha and Broadsign is the latest in a series of significant collaborations for Zitcha. Most notably, they recently announced a partnership with Meta to incorporate the Managed Partner Ads API into their retail media platform. This integration aims to facilitate and enhance connections between advertisers and off-site audiences on Facebook and Instagram at a large scale.