UK-based online grocery platform Ocado and Australian retail media platform CitrusAd have expanded their partnership to help suppliers grow their businesses.
The partnership aims to bring together the best grocery delivery and retail media technology and help brands and media agencies plan, purchase and optimise their media campaigns.
The platform will allow brands to launch self-managed sponsored products directly onto Ocado’s website and evaluate the results of their campaigns. It will also optimise customers’ experiences by showing them personalised advertisements.
The companies have announced that all suppliers will be invited to join the platform over the next 12-18 months.
Ocado chief commercial officer Christina Hawley said: “Our partnership with CitrusAd is a key moment in how we work with and support our suppliers.
“The platform will allow us to better serve our suppliers, helping them to manage and optimise their media campaigns, leveraging campaign data such as return on investment.
“CitrusAd’s market-leading technology, alongside our Crunch insights platform, will ultimately make it easier for our suppliers to put their products in front of more customers and build their business with Ocado.”
CitrusAd UK head Kim Ludlow said: “We are excited to be expanding our partnership with Ocado Retail, which brings together two leading technology companies in their respective fields.
“We will continue to deliver a powerful technology platform that will help Ocado Retail monetise and personalise its website and deliver more value to its partners.
“It means any supplier, regardless of size or ad spend, has an opportunity to get in front of shoppers and engage with digital audiences.
“This provides a huge boost for brands wanting to raise their profile and grow their business.”
A joint venture between Marks and Spencer Group and Ocado Group, Ocado Retail is responsible for Ocado.com and Ocado Zoom.
Last December, Ocado increased its full-year profit forecast by 35% for the last quarter of the year.