What's Happening?
Ocado, a prominent online retailer, is advancing its offsite media strategy to increase advertising reach for brands. The company has developed a strategy anchored in first-party, purchase-based audiences
that can be activated across the open internet. Since 2023, Ocado has partnered with The Trade Desk, allowing advertisers to use Ocado's audience data to target and optimize across connected TV (CTV) and digital out-of-home (DOOH) advertising, with closed-loop attribution linked directly back to grocery outcomes. This approach aims to reduce fragmentation by integrating Ocado data into tools and environments that buyers already use, enhancing the effectiveness of media buying.
Why It's Important?
Ocado's strategy represents a significant shift in how online retailers can leverage data to enhance advertising effectiveness. By integrating with established media buying platforms and using first-party data, Ocado is able to offer advertisers a more targeted and efficient way to reach consumers. This approach not only benefits advertisers by improving return on ad spend (ROAS) but also positions Ocado as a leader in the evolving landscape of retail media. The strategy could set a precedent for other retailers looking to maximize the value of their customer data in advertising.
What's Next?
As Ocado continues to refine its offsite media strategy, it is likely to expand partnerships with more media companies and advertisers. The success of this strategy could encourage other retailers to adopt similar approaches, potentially leading to a broader shift in how retail media is conducted. Additionally, the integration of Ocado's data with media buying platforms may lead to new innovations in targeted advertising and consumer engagement.
