NRS Digital Media Launches StrataSelect
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Insights
The launch of StrataSelect by NRS Digital Media represents a significant advancement in the retail advertising space. By moving away from a one-size-fits-all approach to in-store advertising, StrataSelect's hyper-targeting capability allows for a more granular and effective marketing strategy. The use of proprietary computational processes to analyze diverse data sets, such as store-specific scan data and consumer behavior, empowers brands to place their advertising content in front of the most receptive audiences.
This innovation has the potential to increase the return on investment (ROI) for brands that advertise through the NRS network. By ensuring that marketing efforts are not wasted on uninterested customers, StrataSelect could lead to higher conversion rates and ultimately, increased sales. From the perspective of the stock market and investors, companies that leverage such advanced targeting technologies may gain a competitive edge, potentially reflecting positively on their stock valuations.
StrataSelect's impact on NRS's financial performance could be substantial. The data-driven approach to in-store advertising could attract more brands to the NRS network, increasing the company's advertising revenues. Given that NRS operates across a vast network of 28,300 POS terminals with a reported $17.2 billion in sales over the past year, the scale at which StrataSelect operates could lead to significant incremental revenue.
Investors should monitor the adoption rate of StrataSelect among brands and its effect on NRS's overall financial health. The ability to offer targeted advertising at scale is a unique value proposition that could justify a premium on the company's services, potentially leading to expanded profit margins. However, investors should also consider the costs associated with developing and implementing such sophisticated technology and whether these are outweighed by the additional revenue generated.
The introduction of StrataSelect is a testament to the ongoing evolution of advertising technology, particularly in the retail sector. The use of advanced analytics and big data to enhance the resonance of in-store media is a trend that's gaining traction. StrataSelect's approach, which includes analyzing detailed demographics and consumer behavior, is at the forefront of this trend.
For stakeholders in the advertising and retail industries, understanding the capabilities and limitations of such technology is crucial. The ability to deliver hyper-targeted content at the point of sale can lead to a more personalized shopping experience, fostering customer loyalty. However, it's also important to consider privacy concerns and the ethical use of consumer data. Ensuring that data is used responsibly and in compliance with regulations is key to maintaining consumer trust and avoiding legal pitfalls.
StrataSelect Enhances Resonance of In-Store Retail Media with Hyper-Targeting
NEWARK, NJ, Feb. 26, 2024 (GLOBE NEWSWIRE) -- NRS Digital Media, a division of National Retail Solutions (NRS), today launched StrataSelect, an in-store retail digital media planning solution that enables brands to achieve data-driven, value-based, store targeting across more than 28,000 NRS digital screens hosted by an independent retailers nationwide.
Conventional in-store campaign planning treats all stores equally. But because customers differ from store-to-store in significant ways, conventional targeting consistently yields sub-optimal outcomes.
In contrast, StrataSelect utilizes a proprietary computational process to analyze diverse data sets including store-specific NRS retailer scan data, demographics, consumer behavior, geographic trends, and category and brand purchase data.
This deep data-driven approach enables brands to strategically place their messages in specific stores, creating meaningful connections that drive brand awareness, consideration, intent, and trial.
“StrataSelect transforms traditional media planning strategies by leveraging a detailed, contextual analysis of each of our retail stores’ customers,” said Eli Korn, Chief Operating Officer of NRS. “This hyper-targeted approach enables brands to build campaigns that resonate more deeply with their chosen target audiences, reaching the right audience at the crucial moment of decision. StrataSelect is another way that NRS Digital Media innovation empowers our advertising partners to achieve success in every campaign.”
Explore the limitless possibilities of targeted store selection with NRS Digital Media’s StrataSelect by contacting Brandon Thurber (bthurber@nrsplus.com) Vice President - Data Sales & Client Success, or Esther Hebbard (ehebbard@nrsplus.com) Sr. Director - Advertising Sales.
NRS POS Network
The NRS network comprises approximately 28,300 active POS terminals operating in approximately 24,500 independent retail stores. Its platform predominantly serves small-format, independent, retail stores including convenience stores, bodegas, liquor stores, grocers, and tobacco and sundries sellers. The network includes retailers in all 50 states and in 197 of the 210 designated market areas (DMAs) in the United States. Over the past twelve months, NRS’ POS terminals have processed
About National Retail Solutions (NRS):
National Retail Solutions operates the largest point-of-sale (POS) terminal-based platform and digital payment processing service for independent retailers nationwide. Retailers utilize NRS offerings to process transactions and effectively manage their businesses. Consumer packaged goods (CPG) suppliers, brokers, analytics firms, and advertisers access the terminal’s digital display network to reach these retailers’ predominantly urban, multicultural shopper base, and to harness transaction data-based learnings to identify growth opportunities and measure execution and returns on marketing investment. NRS is a subsidiary of IDT Corporation (NYSE: IDT).
All statements above that are not purely about historical facts, including, but not limited to, those in which we use the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate,” “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent IDT Corporation’s current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors. IDT Corporation’s filings with the SEC provide detailed information on such statements and risks, and should be consulted along with this release. To the extent permitted under applicable law, IDT Corporation assumes no obligation to update any forward-looking statements.
IDT Corporation Contact:
Bill Ulrey
william.ulrey@idt.net
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FAQ
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