Perion Network Ltd., a global advertising technology company that delivers holistic solutions across the three main pillars of digital advertising – ad search, social media and display / video / CTV advertising – announced today that Undertone, a leader in data-driven, Intelligent High Impact campaigns across screens, has a new division dedicated to retail marketing. Retailers are now able to deliver dynamically updated, personalized, and geographically-sensitive pricing – on an item-by-item and bundled basis – across its suite of high impact digital display units.
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“Our healthy early growth – and exciting future in the Retail Media vertical – represent the next level of Perion’s cross-channel diversification strategy. We’re putting more and more efforts to verticalize our offerings and gain both market share and long-term partnerships with our important customer partners.”
The convergence of dynamic, AI-driven optimization and Undertone’s breakthrough creative has been beta tested in the circular market – with millions of consumer interactions – and has been proven to be an omni-channel home run, generating ROAS (Return On Ad Spend) up to 9x, increasing low price perception by over 60% and aiding in up to 83% brand awareness, per Lucid studies conducted.
The new Retail platform and its innovative digital circular could not come at a more perfect time. Grocery retailers are looking forward to enormous upside – industry sales are expected to reach $1.1 trillion by 2027, according to Grand View Research – as the pandemic has fueled growth in DTC (Direct-to-Consumer) and stay-at-home behaviors. But this comes in the face of the well-established slow death of print media, which has dramatically reduced the distribution of the conventional circular.
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Meghan Galligan, Senior Manager of Digital Media, and Experience at Stop & Shop, who participated in the high impact circular beta test, noted that:
“Undertone’s high impact circular capabilities were extremely turn-key to execute and have allowed us transform the content and distribution of our weekly ad. Not only is it personalized, but Undertone’s interactive formats also provided the ideal canvas to showcase a curated selection of top deals each week, specific to geographic shopping behaviors. We are planning to scale this technology to ensure our customers are getting the content that is right for them. Based on the results of our initial campaigns, it’s clear our shoppers love it too!”
Undertone plans to expand its Retail platform and Price & Item technology more deeply into the retail operating system, since the data solutions it provides have end-to-end impact, from supply chain and warehousing to POS.
Undertone President, Dan Aks, “Undertone’s Retail platform s is an innovation driven by our core assets, and unique ability to combine data, technology and creative to drive outsized results for our clients. We have been listening carefully to our retail partners – particularly in grocery – as they have shared the complex challenges they face in today’s hyper-competitive, digital-first environment. We believe that our new division will become an invaluable strategic and operational partner as they build their moats.”
Doron Gerstel, Perion’s CEO, added “Our healthy early growth – and exciting future in the Retail Media vertical – represent the next level of Perion’s cross-channel diversification strategy. We’re putting more and more efforts to verticalize our offerings and gain both market share and long-term partnerships with our important customer partners.”
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