Coles has put Coles Radio account up for tender to other media networks.
👉 Background: If you know Coles, then you probably know Coles Radio - it’s their very own radio station that plays banger after banger as you’re shopping through the store.
👉 What happened: Now, after 10 years partnering with Nova, Coles has put Coles Radio account up for tender to other media networks like Southern Cross Austereo and ARN.
👉 What else: It's all part of their plan to expand the revenue that they can generate from retail media.
💡Welcome to the wonderful world of retail media - this is where brands use the data they have about their consumers to personalise offers, deals and general products.
💡With more sophisticated systems, suppliers may now be able to choose to advertise their products in a single Coles store, or area. And this opens up the world to even more suppliers advertising across the country with targeted advertising.
💡And the retail media is large already - estimated to have been worth $1 billion in 2022. But with advancements in tech, it's believed it could be worth $3 billion by 2026. So clearly, Coles sees some value in its Coles Radio.
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