Brands will be able to harness data from Singapore’s leading food and grocery retailer via a programmatic media platform for the first time.
FairPrice Group (FPG), Singapore’s leading food and grocery retailer, and global advertising technology leader, The Trade Desk, announced on 15 November an industry-first partnership to provide brands on The Trade Desk’s platform with insights on the impact of their digital advertising campaigns across offline and online sales channels. In addition, such brands will be able to reach FPG’s customers on the open internet, beyond FairPrice’s owned media platforms.
The partnership marks the first time that FairPrice Group’s pseudonymised sales conversion data will be available within a programmatic media buying platform, the company said in a media statement.
With an extensive network of more than 570 touchpoints, FPG reaches over 90 percent of households in Singapore. The new partnership allows brands to reach an engaged customer base of more than 2 million NTUC Union and Link Members, including over 700,000 FairPrice app users. Brands and media agencies will be able to directly measure how digital ad campaigns are driving both in-store and online sales within FairPrice stores. Through these measurement insights, brands can make near real-time enhancements to their ad campaigns that can be optimised in a way that was not previously possible. Furthermore, the partnership makes it easier for brands to reach and engage with relevant FairPrice consumers across the open internet, in the fastest-growing digital channels, such as over-the-top (OTT), music streaming, mobile apps, gaming, and websites.
The pandemic accelerated Singaporeans’ appetite for online shopping and drove a renewed appreciation for in-store experiences. While FairPrice’s online transaction value surged by four times that of offline transactions in the last 12 months, 67 percent of FairPrice’s online customers are shopping offline as well, underscoring consumers’ omnichannel path to purchase behaviour.
Alvin Neo, Chief Customer and Marketing Officer, FairPrice Group said, “Through this partnership, FairPrice Group aims to help brands unlock meaningful opportunities to better connect with our customers. As we enter the era of consent-based marketing, we look forward to working with The Trade Desk to harness the power of retail data to gain better insights to reach and serve consumers in relevant and beneficial ways.”
The announcement comes as consumer privacy takes centre stage, and brands and media agencies continue to look for ways to prove the return-on-investment of their ad campaigns. With the phasing out of device identifiers and soon-to-be cookie deprecation, new data sources are critical as the industry looks to preserve the value of relevant advertising. The recent increase in e-commerce and loyalty programmes has created an opportunity for FPG to leverage its valuable shopper data in service of brands that want to better connect with consumers.
“Given the complexity of the modern consumer, brands will need to take an omnichannel approach that supports a true shopping experience and navigates the path to purchase with consumers,” said Mitch Waters, Senior Vice President, Australia, New Zealand, Southeast Asia and India, The Trade Desk. “By integrating FairPrice Group’s retail data available for the first time with The Trade Desk platform, we are helping brands reach FairPrice customers across the open internet, and closing the loop between advertising activity and in-store and online action.”