Currys taps into retail media boom with ad platform

Currys has become the latest brand to enter the global retail media market, challenging the likes of Tesco, Boots, Sainsbury’s and Superdrug for a slice of the predicted $141.7bn (£115.8bn) sector.

The Currys Connected Media network has already signed up a host of advertisers, including Samsung, Acer and Hisense, in order to better understand, reach and engage with millions of customers both online and in-store.

The retailer claims the platform will allow partner brands to access the 80% of UK households who regularly shop at Currys; on average it serves over 8.5 million customers a week.

The network will tap into the firm’s first-party customer data and insight, powering a range of new advertising options which allow brands to directly engage and influence customers at the point of purchase.

The ground-work for the new platform was laid in October 2021 when Currys launched its first ever UK loyalty scheme, offering customers access to discounts and benefits. The move coincided with the relaunch of the business and the demise of the Currys PC World, Carphone Warehouse, Team Knowhow and Dixons Carphone brands.

Last year, it hailed the implementation of Salesforce’s CRM technology solutions to support its omnichannel transformation, claiming it now has a single, 360-degree shared view of every customer.

The retail media network is powered by the Currys Tech Insights platform, driving insights through advertising platforms Tech Hunters (offsite) and Tech Buyers (onsite).

Tech Hunters is built on technology provided by Publicis-owned Epsilon and is claimed to increase the reach available to Currys’ advertising partners right across the web. Meanwhile, Tech Buyers – which is built on Criteo’s retail media platform – brings brands closer to the point of sale on key pages, delivered right before the digital check-out.

Tech Hunters also gives Currys’ brand partners the ability to use real-time, SKU-level data to tie digital campaigns into in-store sales.

Advertising placements geared towards boosting brand awareness and consideration will also be available, with display and video ads on higher traffic pages coming soon.

With over 300 stores across the UK, brand partners can also unlock in-store advertising prompts, with a range of ad spaces available across thousands of screens in stores and placements on Currys Radio in the near future.

Currys chief data officer Susie Moan claims that no other retailer in the UK is better placed to connect brands with tech-shopping consumers than Currys, as no other company can match its omnichannel customer touchpoints.

She added: “Currys Connected Media combines this unique position with best-in-class insight and targeting technology to create a market-leading retail media network that allows brands to more intelligently understand, engage and sell to shoppers than ever before… and we’re delighted to partner with some of the most prestigious tech brands out there.”

The opportunity for UK firms to offer retail media spend was first flagged up in 2019, when DunnHumby Media predicted that grocery retailers alone could claw in an extra £1.7bn worth of revenue by using the customer data and insights they already have under their noses to monetise their owned media. Since then, most major UK retailers have jumped into the advertising market.