Vericast, in partnership with Intel, is deploying a novel digital in-store retail media network as part of a larger effort to digitalize the traditional shopping experience.
The newly designed system underwent a two-week pilot test across 50 independently owned convenience stores in Dallas and New Orleans. During the trial, eight different advertisements were displayed on various in-store digital displays and beverage cooler screens for a renowned beverage company. The goal of this pilot program was to verify the effectiveness of the new technology and gain insights from real-world interactions.
Approximately 350,000 customer impressions were registered during the campaign, providing a wealth of data. In addition, the system collected zero-party data, a type of data willingly shared by customers with brands. The test also measured sales by SKU, gauged consumer sentiment, and much more. It’s worth noting that about 85% of customers who visited a custom webpage created for the pilot chose to share their data.
Vericast’s technology uses privacy-focused contextual advertising to offer relevant digital ads to customers as they shop. It also measures consumer behavior through its proprietary campaign data analytics. The installed hardware consists of display panels and cooler screens of various sizes, converting traditional surfaces into digital smart screens. Using Internet of Things (IoT) sensors and computer vision technology, these screens capture anonymized analytics and measure consumer engagement in real time.
According to recent estimates, the retail media market is now worth nearly $40 billion. Vericast’s in-store network attempts to tap into the enormous in-store audience, which recent data suggests is on average 70% larger than the online audience. Vericast plans to extend its network to additional regional grocery chains, fast casual restaurants, and is set to include a global convenience store brand with over 1,700 locations.
