NEW YORK & WEST DES MOINES, IOWA--(BUSINESS WIRE)--
Hy-Vee, Inc., a U.S. grocery chain with more than 265 retail stores across eight Midwestern states and $10 billion in annual sales, has become the first retailer in the U.S. to partner with the Citrus Retail Media Platform to better serve its suppliers and growing customer base.
Established in 1930, Hy-Vee is synonymous with healthy lifestyles, culinary expertise and superior customer service and ranks in the Top 10 Most Trusted Brands in the U.S.
Citrus, led by CEO Brad Moran, provides retailers such as Hy-Vee with a retail media platform that is proven to increase supplier product sales via sponsored search and monetize digital shelf space for retailers, while retaining a personalized online shopping experience for customers. Citrus, which launched its platform in December 2017, now works with 20 global Tier 1 retailers in Europe, UK, Asia, Australia and Latin America.
In addition to being the first retailer to launch Citrus in the U.S., Hy-Vee is also the first announced retailer partnership from the Citrus USA office.
Citrus empowers retailers with the technology to create a new revenue stream and monetize their digital real-estate by providing suppliers with the ability to compete in a live auction for prime product positioning and targeted banner ad placements within retailer e-commerce sites. At the same time, the self-service sponsored product and display platform gives suppliers of any size and budget the ability to promote products and measure their success in real-time.
Globally, CPG’s are reaping the benefits of the Citrus platform with average ROI’s in grocery at 2000% and conversion rates above 60%. Citrus is making a significant impact on total online sales growth and performance for consumer products, proving just how important it is for brands to be in the top row on retailer e-commerce websites.
Hy-Vee’s Group Vice President of E-Commerce Kurt Hasson said the company selected Citrus because of the opportunities the technology presents for its suppliers. “We are dedicated to providing an excellent customer experience while helping all of our suppliers grow e-commerce sales. Citrus checks all the boxes for us – it’s scalable, secure, easy to integrate and delivers personalized experiences for our customers while providing a highly targeted, performance-based digital advertising tool for suppliers that are both large and small.”
“We are excited to have a grocery industry leader such as Hy-Vee as our first retailer launching in the U.S., which is one of the fastest growing e-commerce markets in the world,” said Moran. “We look forward to our technology contributing to their success and growth by helping to monetize its online presence and further improve the customer experience they provide."
Citrus is the world’s leading retailer white-label, digital advertising technology that enables retailers to monetize their digital assets and suppliers to increase product sales by launching more targeted and cost-effective digital campaigns right at the point of purchase. Since it was launched in December 2017, Citrus has become the global retail industry’s preferred sponsored product and banner ad platform. Citrus has partnered with successful Tier 1 retailers in the US, South America, Europe, Australia and Asia to empower the potential of their online shelf space. Citrus brings personalization and monetization together for the very first time. For more information, visit https://www.citrusad.com/.
About Hy-Vee, Inc.
Hy-Vee, Inc. is an employee-owned corporation operating more than 265 retail stores across eight Midwestern states with sales of $10 billion annually. The supermarket chain is synonymous with quality, variety, convenience, healthy lifestyles, culinary expertise and superior customer service. Hy-Vee ranks in the Top 10 Most Trusted Brands and has been named one of America’s Top 5 favorite grocery stores. The company’s more than 80,000 employees provide “A Helpful Smile in Every Aisle” to customers every day. For additional information, visit http://www.hy-vee.com/.
Copyright Business Wire 2019