Zitcha & Venvee to revolutionise in-store media measurement

Retail media platform Zitcha has teamed up with US-based firm Venvee to create a unique solution that is set to significantly improve in-store retail media measurement. The pioneering partnership will grant retail media networks access to a more effective means of measuring advertising campaigns and enable advertisers to make more targeted and measurable marketing decisions.

Despite the phenomenal growth of e-commerce, in-store sales continue to account for 90% of all worldwide sales. In this thriving sector, omnichannel retail media is forecast to enjoy a valuation of USD $60 billion globally by the end of 2024. The amalgamation of rich shopper journey data from Venvee and sales and conversion data from Zitcha means that advertisers can now get a clearer view of the return of their digital advertising spend and make more informed investment decisions.

CEO of Zitcha, Troy Townsend, has emphasised the significance of the new partnership with Venvee. He explained, "The collaboration with Venvee is a major advance for in-store retail media, representing a significant milestone in Zitcha's digital screen ad solution. It addresses one of the fundamental issues that retailers and advertisers face – how to evaluate the impact and effectiveness of in-store advertising. With Venvee's technology integrated into our platform, they now have a solution, enhancing their capacity to evaluate the performance of ads, integrate data into their omnichannel strategies and optimise their campaigns."

Venvee uses spatial AI to comprehend and activate audiences in retail media networks, making it possible to measure campaign performance according to in-store behaviour. This approach allows the evaluation of the effect specific adverts have on shopper behaviour. For instance, it can measure if there is increased engagement with advertised products and capture pre-purchase intent at a large scale.

James Bauer, CEO of Venvee, expressed, "With the combination of Zitcha's planning, activation, and online measurement, and Venvee's in-store audience generation and measurement, retailers can now have an out-of-the-box retail media product without a digital dependence. This facilitates an entirely new market of retailers to support their brands in a manner that is functional at any scale."

Venvee's technology works by collecting data from the full journey of shoppers in a store without capturing individual shoppers' identities. It does this by creating a digital twin—a virtual 3D model of the store—and anonymously accumulating data from the full in-store journey of each individual shopper. This information is gathered through the retailer's security cameras from the moment a shopper enters to the moment they exit, capturing all interactions with products, advertisements, and unique features of the store.

This venture is hot on the heels of Zitcha's previous partnership with Broadsign, enabling brand advertising partners to smoothly view inventory availability, book campaigns and review campaign performance on in-store digital networks.