Hy-Vee Launches Retail Media Division
Hy-Vee has unveiled a new retail media network at the recent Groceryshop 2023 event. Dubbed Hy-Vee RedMedia – a nod to the grocer’s signature color – the solution allows partner brands to connect with shoppers across a variety of platforms.
As with other retail media solutions, the goal is personalized engagement with shoppers at different points on their shopping journey. Omnichannel marketing strategies can be deployed on Hy-Vee’s digital platforms and via in-store advertising and brand-safe sites.
[Read more: "Younger Shoppers Opening Up Omnichannel Experimentation"]
Hy-Vee touted the fact that its diverse organization offers several opportunities for tailored interactions between brands and customers. The company teams with suppliers across its grocery, wine and spirits, pharmacy, specialty healthcare, dietetics, banking, manufacturing, construction and its digital-driven ventures like Hy-Vee Aisles Online, WholeLotta.com, VCRx.org and RedBox Rx.
“Retail media is outpacing traditional marketing and will be a game changer in consumer marketing,” explained Jason Farver, president of Hy-Vee RedMedia. “Leveraging insights allows companies to be smarter and more strategic with their marketing dollars, while also improving the customer experience by reaching the right customer at the right time with the right product offering.”
Hy-Vee’s RedMedia network is powered by the in-store digital ad platform Vibenomics, an Indianapolis, Ind.-based enterprise solution provider that is now part of Mood Media. Paul Brenner, SVP of retail media and partnerships at Vibenomics, agreed that a perfect storm of trends and circumstances came together at Hy-Vee. “On one side, it’s the customer experience – it has to be decluttered. On the retail media side, it’s the brand expectation,” he said.
Technologies continue to improve to allow Hy-Vee and others enhance the shopping experience, he added. “The big change is that the technology providers in retail media networks are trying to include in-store as part of their plans," Brenner noted, adding, "You have to make it easier for them (shoppers) to buy at the end of the day.”
Employee-owned Hy-Vee operates more than 285 retail stores across eight Midwestern states, with sales of more than $13 billion annually. The West Des Moines, Iowa-based company has a team of more than 80,000 employees and is No. 36 on The PG 100, Progressive Grocer’s 2023 list of the top food and consumables retailers in North America. PG also named Hy-Vee a 2023 Top Regional.
