Quotient Launches Promotion Amplification Platform with Another Major US Grocer
Quotient (NYSE: QUOT) has expanded its partnership with a major U.S. food and drug retailer to introduce a promo amplification tool on their retail performance media platform. This tool assists consumers in saving money while connecting consumer packaged goods (CPG) brands with targeted audiences. According to Quotient's data, CPG advertisers typically run over 2,000 temporary price reductions (TPRs) weekly, with 90% remaining unseen by shoppers. The aim of the new tool is to increase visibility for these offers, thereby enhancing in-store and online sales.
- Expansion of partnership with a major U.S. retailer enhances market reach.
- Introduction of promo amplification tool is expected to increase consumer engagement and sales.
- Addresses the visibility issue of TPRs, potentially increasing brand exposure.
- None.
Quotient (NYSE: QUOT), the leading digital media and promotions technology company, today announced an expansion of their partnership with one of the largest food and drug retailers in the United States, to introduce a promotion (“promo”) amplification tool to their retailer performance media platform. The new tool helps consumers save money in thousands of grocery stores, while connecting CPG brands with engaged shopping audiences. Promo amplification taps retail point-of-sale and loyalty card data to automatically target the right consumers with available temporary price reduction (TPR) offers, featuring custom creative from the CPG brand.
“On-sale items are the quintessential promotion to drive trial and loyalty and offer shoppers maximum value. Introducing promo amplification to an existing retail ad network helps expose more shoppers to offers on products they love to drive in-store and online sales, and deepens their relationship with their grocer,” said Steven Boal, CEO and founder of Quotient.
According to Quotient internal data, on average, CPG advertisers run over 2,000 TPRs each week to drive in-store sales at grocery retailers. Of those TPRs, only ten percent are visible in the retailers’ traditional, weekly circular. As a result, shoppers may not be aware of all the on-sale items available, and brands and retailers may miss an opportunity for incremental store trips, potential new trial and increased basket sizes. Promo amplification aims to rectify the up to
About Quotient
Quotient (NYSE: QUOT) is the leading digital media and promotions technology company that creates cohesive omnichannel brand-building and sales-driving opportunities to deliver valuable outcomes for advertisers, retailers and consumers. The Quotient platform is powered by exclusive consumer spending data, location intelligence and purchase intent data to reach millions of shoppers daily and deliver measurable, incremental sales.
Quotient partners with leading advertisers and retailers, including Clorox, Procter & Gamble, General Mills, Unilever, Albertsons Companies, CVS, Dollar General and Peapod Digital Labs, a company of Ahold Delhaize USA. Quotient is headquartered in Mountain View, California, and has offices across the US as well as in Bangalore, Paris, London and Tel Aviv. For more information visit www.quotient.com.
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FAQ
What is the new tool introduced by Quotient and its purpose?
How many temporary price reductions do CPG advertisers run weekly according to Quotient?
What percentage of TPRs are visible in retailers' traditional weekly circulars?
How does the promo amplification tool work?
What is the significance of the partnership expansion for Quotient?
