CitrusAd will join Chiper, a B2B e-commerce marketplace serving more than 170,000 convenience stores in Latin America.
This strategic partnership between CitrusAd and Chiper modernizes procurement to help CPG companies improve volume of product distribution and speed-to-shelf in a vastly fragmented market with time-pressed decision makers that are often hard to reach.
With the integration of CitrusAd’s retail media platform, Chiper has access to advanced advertising tools that can help suppliers penetrate accounts they’re not in and grow sales with existing accounts through relevant, targeted digital campaigns.
Brands have increased retail media ad spend significantly in the past two years, and Morgan Stanley recently projected the market to grow to $130 billion by 2025.
Chiper is one of the first companies to apply the trend for B2B applications.
Related Article: Wakefern Food Corp. Introduces Multisensory Freeosk Sampling Kiosks
“We are excited to partner with Chiper and bring the power of our retail media platform to serve B2B needs in the Latin American market. This integration will enable Chiper to leverage our programmatic advertising capabilities and analytics to drive business growth for Chiper, store operators and the suppliers they work with,” said David Haase, CitrusAd CEO, Americas.
The ChiperAds platform allows brands to leverage first-party data to show the right advertisements to the right customer at the right time, making distribution opportunities crystal clear and incremental YoY growth possible.
This is a game-changing industry solution, bringing both programmatic advertising and untapped data capabilities to a retail channel that plays a critical role within Latin American consumers, accounting for up to 50% consumer share of wallet in fast moving consumer goods (FMCG), according to studies by McKinsey and Kantar.
According to Chiper, early internal data from campaigns in all its markets show that sponsored and banner campaigns across carefully assorted placements within their app can provide an average return on investment of at least 500% or higher.
Chiper recently finished their initial 30 days running campaigns on CitrusAd and is looking to scale with velocity in the coming months.
Brands such as Coca Cola FEMSA, Mars, Unilever, and other relevant suppliers and business services can now serve sponsored product and display ads that reach key retail decision makers to build B2B awareness, market share, and sales, said the company in a press release.
The ads are served on the Chiper App, which is used by retailers for product discovery, inventory orders and replenishment.
A huge benefit to endemic c-store suppliers is the analytics platform that transparently provides closed-loop sales attribution and return-on-ad-spend.
“We are thrilled to integrate CitrusAd’s technology into ChiperAds, as it represents the first step for suppliers to efficiently reach shopkeepers and promote the sale of their products while retailers are ordering in our system. This strategic partnership gives us the tools to not only innovate trade marketing strategies for our suppliers, but allows Chiper to grow as a retail media network and serve as rich source of data within the corner-store buying channel,” said Carolina Garcia, Chiper’s CRO.