Instacart Delivers Google Shopping Ads For Its CPG Partners, Powered By Its Retail Media Data
Portfolio Pulse from Benzinga Newsdesk
Instacart (NASDAQ:CART) has partnered with Google to offer Google Shopping ads powered by Instacart's retail media data to its CPG partners, including Danone's Oikos, Kraft Heinz brands, and Publicis Media's clients. This allows consumers to see ads for products and complete their shopping on Instacart with same-day delivery. Instacart's unique insights from a vast product catalog and retail banners enhance ad targeting. The company has expanded its advertising solutions, including new ad formats and measurement capabilities, delivering an average of over 15% incremental sales lift for brand partners.
January 09, 2024 | 2:01 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Instacart's partnership with Google to offer Google Shopping ads using its retail media data could attract more CPG partners and enhance ad targeting, potentially increasing the company's advertising revenue and market share in retail media.
Instacart's announcement of leveraging its retail media data for Google Shopping ads is likely to be seen positively by investors as it expands the company's advertising capabilities and could lead to increased revenue from its CPG partners. The use of first-party data for ad targeting is a growing trend, and Instacart's large catalog and consumer insights could give it a competitive edge. The positive early pilot results and the expected growth in digital retail media ad spend suggest a favorable outlook for Instacart's advertising business.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 100