CVS adds in-store audio to retail media network offering
CVS is letting its advertising partners deliver programmatic audio ads to shoppers in its stores.
In an email to Chain Store Age, CVS said its CVS Media Exchange (CMX) retail media network is partnering with global advertising technology The Trade Desk and audio out-of-home (OOH) advertising company Vibenomics to offer new self-service audio ad placement capabilities within CVS store aisles.
Beginning Tuesday, Nov. 12, 2024, select CMX advertising partners will gain expanded programmatic control to reach CVS shoppers in 6,900 stores across the country with expansion to additional locations in the coming months.
Eligible advertisers can buy and manage omnichannel campaigns with geo-targeting, seasonal and dayparting strategies, as well as inventory targeting, to deliver 30-second audio messages through an existing seat at The Trade Desk.
According to CVS, shoppers who hear in-store audio ads are 90% more likely to consider purchasing the product compared to those who do not recall hearing the ads.
"This presents an incredible opportunity for both our shoppers and advertiser partners, enriching the in-store shopping experience even further with relevant messaging as customers browse the CVS aisles," said Parbinder Dhariwal, VP and GM at CVS Media Exchange. "With the largest retail pharmacy footprint in the country, this launch is part of our broader commitment to investing in our in-store offerings and delivering more digital product discovery opportunities."
As part of the collaboration, Vibenomics will aggregate audio inventory into the programmatic advertising space. The Trade Desk will function as the demand side platform (DSP), making CMX inventory available to advertiser partners and overseeing real-time bidding.
"Vibenomics has a front row seat as retail media rapidly transforms the digital in-store experience,” said Paul Brenner, senior VP of global retail media & partnerships at Vibenomics, a Mood Media Company. “Across the industry, we are witnessing technology adoption that will drive new insights into shopper engagement and influence. CVS has a unique advantage with its ability to reach health, wellness and beauty shoppers.”
Following the initial launch of a self-service programmatic ad offering earlier this year, CVS has added more digital screens in high-traffic areas, updated digital signage on end caps across stores, and displayed content on new and popular products through shelf tags, printed coupons, and digital coupons in stores while reducing in-store signage.
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Headquartered in Woonsocket, R.I., CVS Health operated 9,406 CVS Pharmacy stores across the U.S. as of Jan. 22, 2024.
