The retailer looks to open new opportunities for brands to connect with consumers through personalized, omnichannel experiences.
Lowe's is partnering with Yahoo to expand its capability to connect advertisers with its customers.
The leading home improvement retailer launched Lowe's One Roof Media Network, a retail media service designed to provide a portfolio of omnichannel advertising services, in October 2021. The platform includes data-driven insights integrated with analysis of consumer behaviors and home category trends, as well as customized advertising products.
Now, Lowe’s is collaborating with Yahoo to make the tech giant’s demand-side platform (DSP) and Yahoo ConnectID sustainable identity solution available to brands participating on the One Roof Media platform. One Roof Media users can leverage Yahoo services including digital out-of-home (DOOH) and additional third-party supply available through the Yahoo Exchange.
Lowe’s intends the move to open new opportunities for brands to connect with consumers through personalized, omnichannel experiences beyond its owned and operated platforms, as well as the ability to drive in-depth campaign measurement and sales attribution. In developing the One Roof network, Lowe's partnered with retail media technology and service providers CitrusAd and Criteo.
Retailers open customers to targeted ads
While in-house retail media networks have proven popular in the grocery vertical, retailers in other verticals have also joined the trend. For example, Kohl’s recently expandedthe capabilities of Kohl’s Media Network (KMN), its in-house retail media agency, to provide brands, vendors and partners an extended portfolio of omnichannel media services.
And Walmart recently rolled out a demand-side platform for suppliers and their media and ad agencies in time for the 2021 holiday season. Initially announced during the introduction of the Walmart Connect media platform in January 2021, the Walmart demand-side platform (DSP) is a collaborative effort with independent demand-side platform The Trade Desk.
In January 2022, Best Buy rolled out Best Buy Ads, an-house media company designed to help its suppliers provide shoppers with targeted, timed promotional messages based on its customer relationships and insights.
In August 2021, Best Buy began enabling advertisers to use Criteo’s cross-retailer, self-service platform to reach BestBuy.com and BestBuy.ca shoppers in the U.S. and Canada. Through sponsored products, the platform helps Best Buy customers further discover and purchase products.
Other big-name national retailers that have launched similar digital third-party ad networks in the past couple of years include Family Dollar, Walgreens, and CVS.
Target launched its Roundel ad network in 2019 as a tool for CPG brands to create personalized digital ad campaigns aimed at Target customers. Roundel helps advertisers connect directly with Target's customers through personalized, relevant marketing messages across Target's owned platforms and hundreds of select off-platform channels.
“Our Yahoo partnership is emblematic of the 360 partnerships we are intentionally developing at Lowe’s One Roof Media Network,” said Abi Subramanian, VP and GM, Lowe's One Roof Media Network. “It fosters unforgettable audience experiences without limits, giving the brands we serve exactly what they need to inspire and engage with their audiences at every stage of their path-to-purchase.”
“We are excited to partner with Lowe’s One Roof Media Network and bring brands and advertisers more meaningful and omnichannel engagement opportunities throughout the consumer purchase journey,” said Elizabeth Herbst-Brady, chief revenue officer, Yahoo. “As we continue to make significant investments in the media network space, this partnership showcases the value of Yahoo’s unified ad tech stack, first-party data, and identity investments when it comes to powering media networks for leading brands in retail and beyond.”
Based in Mooresville, N.C., Lowe's more than 2,200 home improvement and hardware stores.