Retail solution Venvee and Zitcha announce ‘first of its kind partnership’
Zitcha and retail tool Venvee have secured “a first of its kind partnership that empowers retailers and brand advertisers to create more targeted, effective and measurable advertising campaigns”.
The announcement:
Retail media platform Zitcha and US-based Venvee have joined forces to give retail media networks a game changing solution, closing the loop on in-store retail media measurement with a first of its kind partnership that empowers retailers and brand advertisers to create more targeted, effective and measurable advertising campaigns.
Venvee, a pioneer in using spatial AI for retail media networks to understand and activate audiences and measure campaign performance based on in-store behaviour, and Zitcha will own the in-store retail environment, giving retailers and brands an actual view on the impact of digital screen advertising in premise.
With omnichannel retail media predicted to be worth US$60 billion globally by the end of 2024, in-store sales account for 90% of all sales worldwide. The integration of Venvee’s rich shopper journey data with Zitcha’s sales and conversion data means advertisers have a clearer understanding on the return of their digital advertising spend to make more informed investment decisions.
Troy Townsend, Zitcha CEO said: “The collaboration with Venvee is a major advance for in-store retail media, representing a significant milestone in Zitcha’s digital screen ad solution. It closes the loop on reporting the impact and effectiveness of in-store advertising, which has traditionally been harder to evaluate than onsite and offsite retail media activity.
“Retailers and advertisers needed a solution to create targeted and measurable in-store advertising campaigns. With Venvee’s technology integrated into our platform, they now have it, including the capability to better evaluate the performance of their ads, seamlessly integrate data into their omnichannel strategies and optimise their campaigns.”
Venvee’s technology helps assess the impact of specific ads on shopper behaviour, such as increased engagement with advertised products and capturing pre-purchase intent at scale.
James Bauer, CEO, Venvee said: “With the combination of Zitcha’s planning, activation, and online measurement, and Venvee’s in store audience generation and measurement, retailers can now have an out of the box retail media product without a digital dependence. This enables an entirely new market of retailers to serve their brands in a way that is functional at any scale.”
Using advanced AI, Venvee creates a virtual 3D model of the store called a ‘digital twin’, then anonymously collects the full in-store journey of each individual shopper through retailer’s security cameras from entry to exit, inclusive of the shoppers’ precise locations, interactions with products, advertisements and other store features.
Zitcha’s partnership with Venvee follows its partnership with Broadsign that seamlessly allows brand advertising partners to simply view inventory availability, book campaigns and review campaign performance on in-store digital networks.
Source: TAG PR
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