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2. Waitrose gets personal as it overhauls online advertising in partnership with retail media tech firm CitrusAd
Waitrose has partnered with CitrusAd to roll-out relevant, targeted advertising across its online site.
The retailer, which is part of the John Lewis Partnership, says that its suppliers can now maximise their online presence through sponsored search and category product ads, as well as sponsored offers and checkout ad campaigns.
The move replaces static advertising – where all customers were served the same adverts – with a targeted model, in which shoppers are given updates from brands based on the product searches or areas they browse online.
It also gives suppliers the flexibility to change or boost their campaigns, rather than being tied into long-term fixed tenancy slots, allowing them to take advantage of events and seasonal changes.
With access to performance-based metrics and reporting, brands can measure the impact of their adverts, and return on ad spend (ROAS) down to the individual product level and by search term.
3. refurbed closes $57 million Series C round led by Evli Growth Partners, C4 Ventures and Speedinvest
refurbed, a marketplace for refurbished and upgraded electronics, has announced a $57 million Series C investment led by existing backers Evli, C4 and Speedinvest, with participation from All Iron and several newcomers.
This brings the total investment since the company’s inception in 2017 to $130 million, following seeding in 2018 at just under $2 million, a Series A in 2020 ($17 million), and Series B in 2021 ($54 million).
“This milestone not only marks a significant achievement for us, but also signals the wider market’s shift towards embracing sustainability in consumer choices,” says Peter Windischhofer, cC-founder and CEO at refurbed.
“Our scalable business model enables us to both grow profitably and make consumption more sustainable. A win-win for us and our planet.”
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