Belk in retail media network partnership
A regional Southeast department store retailer is teaming up with a third-party platform to connect brand advertisers with its customers.
Belk is partnering with retail media platform provider Criteo to launch its retail media arm, the Belk Media Network. The network enables national brands in the apparel, accessories, beauty and home categories to send targeted promotions to shoppers across Belk's owned-and-operated properties.
The retailer will utilize sponsored products and onsite display, with plans to expand to additional formats in 2025. Access to Criteo's technology and Belk's first-party data will allow brands and ad agencies to target Belk’s audience segment of high-earning, predominately women shoppers.
"Belk is thrilled to be partnering with Criteo, an industry leader with extensive experience building retail media networks from the ground up, to help connect advertisers with our engaged and loyal customer base," said Neal Sheridan, VP of Belk Media Network. "Through this partnership and the launch of the Belk Media Network, our brand partners will be able to reach and engage with consumers at the digital point of purchase, increasing visibility and driving sales ahead of a very crowded holiday shopping season."
The department store chain is leveraging Criteo's Comemrce Yield retailer monetization platform to provide participating brands and ad agencies access to its inventory and data for display and sponsored product ad campaigns.
Brands and ad agencies can also plan, activate, and report on campaigns in real-time and with closed-loop reporting via Criteo's Commerce Max demand-side platform.
Belk is rolling out its new retail media network on the heels of reducing its outstanding debt by more than $950 million and having lenders, including funds associated with global investment firm KKR and Hein Park, take controlling interest in its business from Sycamore, which acquired Belk in 2015 for $3 billion.
[READ MORE: Belk reduces debt by nearly $1 billion; has new owners]
"We are excited to power the Belk Media Network and support how national brands optimize their omnichannel campaigns to drive measurable commerce outcomes," said Sherry Smith, executive managing director for the Americas at Criteo. "Our technology will equip brands and agencies to maximize their investments across Belk's digital properties and identify opportunities for growth in the ever-evolving retail landscape."
Headquartered in Charlotte, Belk Inc. operates nearly 300 stores and Belk Outlet locations spanning across 16 Southeastern states and has a digital presence.
