SINGAPORE, Dec. 12, 2024 /PRNewswire/ — MMA Global APAC and FairPrice Group (FPG) today unveiled The Retail Media Lab, an innovative program that will enable marketers to measure and demonstrate the efficacy and effectiveness of omnichannel retail media experiences. This groundbreaking collaboration positions FPG at the forefront of retail innovation in Singapore and offers a unique opportunity for brands to leverage real-time data and insights to optimize marketing strategies, improve customer engagement, and drive growth across multiple channels.
The Retail Media Lab program will serve as a live testing ground for leading brands across various categories, including non-endemic advertisers, to explore hypotheses around the omni-channel experience for consumers, and full-funnel capabilities of marketing campaigns. These hypotheses will extend beyond simple conversion or transaction metrics to examine the broader impact on brand metrics, customer engagement, and the effective use of first-party data. The program is also designed to create opportunities to measure cross-device and omnichannel interactions, providing invaluable insights into customer journeys and helping brands achieve diverse objectives from new user acquisition to enhancing loyalty.
Key Features of The Retail Media Lab include:
Full Funnel Measurement: Evaluate marketing effectiveness from awareness to conversion and beyond, with a focus on deeper engagement and brand impact. Data-Driven Insights: Gather actionable insights on customer behavior, segmentation, and targeting to deliver highly relevant and personalized experiences at scale. Cross-Device & Omnichannel Measurement: Track customer interactions across various devices, optimizing campaigns for maximum reach and engagement across online and offline channels. Real-Time Performance Tracking: Access real-time data to make quick adjustments and boost campaign performance and efficiency.
The Retail Media Lab program creates an ecosystem for collaboration comprising a leading omnichannel retailer, brands, and agencies to test, measure, and validate hypotheses related to Retail Media. Leading agencies such as Publicis Groupe and dentsu in APAC have expressed interest in engaging their clients to participate across diverse categories.
"This partnership represents an exciting milestone for FairPrice Group as we continue to innovate in the retail space" said Sean Cheng, Chief Omnichannel Officer, FairPrice Group. "By collaborating with MMA, leading agencies and key brands, we are excited to demonstrate the value of a full-funnel retail media solution that not only enhances customer engagement but also drives measurable outcomes for our partners. This initiative underscores our commitment to delivering impactful, data-driven strategies that empower brands to thrive in an omnichannel world, and make every day a little better for their customers."
"At MMA, we empower marketers to lead change by providing them with the tools, insights, and resources they need to succeed in a digital first world, demonstrating the transformative power of data-driven, omnichannel retail media solutions " said Rohit Dadwal, CEO of MMA Global APAC. "The Retail Media Lab program is a great example of how data and technology can be used to create deeper customer connections, improve campaign outcomes, and ultimately shape the future of omnichannel marketing. As a catalyst for growth and innovation, MMA Global is excited to collaborate on initiatives like this that not only redefine marketing strategies but also create unparalleled opportunities for brands to leverage actionable insights."
The Retail Media Lab program, is set to transform marketing by enabling brands to deliver personalized, impactful campaigns and meaningful connections that resonate with today’s omnichannel consumers driving the future of retail media, fostering measurable growth for all stakeholders .
ABOUT MMA
Comprised of over 800-member companies globally and 16 regional offices, the MMA is the only marketing trade association that brings together the full ecosystem of marketers, martech and media companies working collaboratively to architect the future of marketing, while relentlessly delivering growth today. Led by CMOs, the MMA helps marketers lead the imperative for marketing change – in ways that enable future breakthroughs while optimizing current activities. The MMA is committed to science and questioning and believes that creating marketing impact is steeped in constructively challenging the status quo encouraging business leaders to aggressively adopt proven, peer-driven and scientific best practices, without compromise. The MMA invests millions of dollars in rigorous research to enable marketers with unassailable truth and actionable tools. By enlightening, empowering and enabling marketers, the MMA shapes future success, while also propelling business growth.
About FairPrice GroupFairPrice Group was established in 2019 through the formation of four entities comprising FairPrice, Kopitiam, Foodfare and Link, with the purpose of making every day a little better by keeping daily essentials within reach for all. FairPrice Group strives to optimise the resources of all four social enterprises and leverage their respective strengths to put customers first, provide better value for all and to make everything about food easy. By being easy on the wallet, experience and planet, FairPrice Group exemplifies its commitment to making every day a little better for all.With an extensive network of close to 570 touchpoints, FairPrice Group seeks to provide an integrated array of products and services, from groceries, ready-to-cook, and ready-to-eat offerings, to on-premise meals, food take-aways, and a rewards programme that delivers personalised and delightful experiences.For more information on FairPrice Group, visit www.fairpricegroup.com.sg.
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