Our recent white paper dove into the data to explore some of the ways that retailers and advertising partners can harness foot traffic analytics along with other location-based metrics to maximize retail media networks and create substantial win-win opportunities. Below is a taste of our findings. For the full report, click here.
Finding the Right Markets with C-Stores
One of the primary benefits that retail media networks offer advertisers is the potential to reach customers so close to the point of purchase. And with huge fleets covering vast areas of the country, convenience stores are extremely well-positioned to meet this need.
In October 2022, 7-Eleven announced the creation of Gulp Media, an advertising network that allows partners to create highly targeted ad campaigns using the chain’s first-party data. While the network initially launched online, the company has already indicated plans to explore in-store partnerships. And with over 9,400 stores in 38 states, and consistently increasing foot traffic, America’s largest c-store has tremendous physical reach.
Iowa-based Casey’s followed suit in December 2022, announcing plans to launch a retail media network in early 2023. The network – dubbed Casey’s Access – will allow partners to advertise across its various channels, including in its stores, at the pump, and online. Like 7-Eleven, Casey’s also boasts a huge offline footprint with over 2,400 stores across 16 Midwestern states, and the chain saw significantly more visits and visitors in 2022 than in previous years.
Matching Campaigns to Local Markets
Casey’s and 7-Eleven’s significant offline presence means that advertising partners who leverage these companies’ media networks can reach large numbers of consumers at the point of purchase. But strategic marketers can take their campaigns one step further by analyzing location intelligence metrics for these chains and identifying venues and regions that cater to specific consumer segments. For example, a restaurant chain looking to attract families with children can use foot traffic analytics to identify stores that cater to its target demographic – and direct its advertising spend accordingly.
To better illustrate the potential of location intelligence for targeted offline campaigns, we analyzed the demographics of nationwide and statewide visitors to 7-Eleven and Casey’s using the STI: Popstats dataset. We then compared the share of households with children in each chain’s True Trade Areas to statewide averages, to see which media network offers a better fit for marketers looking to reach families.
As shown in the graph below, the appeal of both 7-Eleven and Casey’s to parental households varies significantly across states. In Ohio, for example, where both chains have a significant presence, 7-Eleven’s trade areas have 6.0% fewer families with kids than the statewide average, while Casey’s trade areas have 6.0% more. On the flip side, 7-Eleven’s Tennessee trade areas have 2.6% more families with children than the Tennessee statewide average, while Casey’s trade areas tend to have fewer such households.
So for marketers promoting a kid-friendly restaurant concept or even products in the store that resonate with the audience, Casey’s locations in Ohio may be a better fit while 7-Eleven would be more suitable in Tennessee. And by the same token, companies marketing more gourmet offerings targeted at adults may choose to focus their efforts on 7-Eleven in Ohio and on Casey’s in Tennessee.
For more insights into how retailers, CPG companies, and other advertising partners can leverage location intelligence to make the most of retail media, read the rest of the white paper here.
