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1、FJune,2024Advantages of New Players in the Retail Media Space Discover the unique brick-and-mortar advertising potential of Costcos and Wawas new retail media networks and how advertisers can best leverage this opportunity.1Table of ContentsRetail Media:The Wave of the Present3The Costco and Wawa Br

2、ick-and-Mortar Opportunity3Costco Enters the Wholesale Club RMN Space4Physical RMN Potential Nationwide4Longer,More Frequent Visits6Unique Audience Preferences and Characteristics7Wawa Debuts Retail Media9A C-Store RMN Advantage9Doubling Down on Miami10A Growing and Evolving Audience11Final Thoughts

3、13 2024 Placer Labs,Inc.|More insights at placer.ai|2Retail Media:The Wave of the PresentRetail media networks(RMNs)have cemented their roles as the future and present of advertising.These networks enable advertisers to promote products and services through a retailers online properties and physical

4、 stores,when consumers are close to the point-of-purchase and primed to buy.Today,we take a closer look at two newcomers to the retail media space:Costco Wholesale and Wawa.Both chains have an online presence but both also excel at in-store experiences,offering unique opportunities for consumer enga

5、gement and exposure to new products.This white paper dives into the data to explore some of the key advantages Costo and Wawa bring to the retail media table and examine how the retailers physical reach can best be leveraged to help advertising partners find new audiences.The Costco and Wawa Brick-a

6、nd-Mortar OpportunityWawa and Costco,the latest additions to the growing number of companies with retail media networks,exhibit significant advertising potential.Both brands boast a wide reach and diverse customer base,and both have access to troves of customer data through membership and loyalty pr

7、ograms.Foot traffic data confirms the robust offline positioning of the two retailers.In Q1 2024,year-over-year(YoY)visits to Costco and Wawa increased 9.5%and 7.5%respectively showing that their in-store engagement is on a growth trajectory.And since consumers tend to spend a lot more time in-store

8、 than they do on retailers websites,Costcos and Wawas strong brick-and-mortar growth positions them especially well to help advertisers reach new customers.In Q1 2024,the average visits to Costcos and Wawas physical stores lasted 37.4 and 11.4 minutes respectively compared to just 6.7 and 4.6 minute

9、s for the chains websites.These longer in-store 2024 Placer Labs,Inc.|More insights at placer.ai|3dwell times can be harnessed to maximize ad exposure and offer partners more extended opportunities for meaningful interactions with customers.Partners can also analyze the behavior and preferences of t

10、he two chains growing visitor bases to craft targeted online campaigns.Costco Enters the Wholesale Club RMN SpaceRMN Potential Nationwide Costcos retail media network will tap into the on-and offline shopping habits of its staggering 74.5 million members to inform targeted advertising by partners.An

11、d the retailers tremendous reach offers a significant opportunity to engage customers in-store.2024 Placer Labs,Inc.|More insights at placer.ai|4But while Costco is dominant in some areas of the country,other markets are led by competitors like Sams Club and BJs Wholesale Club.And advertisers lookin

12、g to choose between competing RMNs or hone in on the areas where Costco is strongest can analyze Costcos performance and visit share on a local or national level to determine where to focus their efforts.An analysis of the share of visits to wholesalers across the country reveals that Costco is the

13、dominant wholesale membership club in much of the Western United States.But Costco also captures the largest share of wholesale club visits in many other 2024 Placer Labs,Inc.|More insights at placer.ai|5major population centers,including important markets like New York,Chicago,Phoenix,and San Anton

14、io.Costcos widespread brick-and-mortar dominance offers prospective advertising partners a significant opportunity to connect with regional audiences in a wide array of key markets.Longer,More Frequent VisitsAnother one of Costcos key advantages as a retail media provider lies in its highly loyal an

15、d engaged audience.In May 2024,a whopping 41.4%of Costcos visitors frequented the club at least twice during the month compared to 36.6%for Sams Club and 36.0%for BJs Wholesale.Moreover,Costco led in average visit duration compared to its competitors.In May 2024,customers spent an average of 37.1 mi

16、nutes at Costco surpassing even the impressive dwell times at Sams Club and BJs Wholesale Club.2024 Placer Labs,Inc.|More insights at placer.ai|6YoY visits per location to Costco,too,were the highest of the analyzed wholesalers,all three of which saw YoY increases.These metrics further establish the

17、 wholesalers position as an effective retail media provider.Unique Audience Preferences and Characteristics Even when foot traffic doesnt show a brands clear regional dominance,location analytics can reveal other metrics that signal its unique potential.Take the Richmond-Petersburg,VA,designated mar

18、ket area(DMA),for example.In May 2024,BJs Wholesale Club led the DMA with 41.2%of wholesale club visits,while Costco was a close second with 37.3%of visits.But despite BJs lead in visit share,Costcos Richmond audience was more affluent.Costcos visitors came from trade areas with a median household i

19、ncome(HHI)of$93.2K/year,compared to$73.1K/year for Sams Club and$89.5K/year for BJs.Additionally,Costco drew a higher share of weekday visits than its counterparts.Analyzing shopper habits and preferences across chains on a local level can provide crucial context for strategists working on media cam

20、paigns.Advertisers can partner with the brands most likely to attract consumers interested in their offerings,and identify where and when to focus their advertising efforts.2024 Placer Labs,Inc.|More insights at placer.ai|7 2024 Placer Labs,Inc.|More insights at placer.ai|8Wawa Debuts Retail MediaCo

21、nvenience stores,or c-stores,are emerging as destinations in and of themselves and their rising popularity among a wider-than-ever swath of consumers opens up significant opportunities in the retail advertising space.A C-Store RMN AdvantageWawa is a relative newcomer to the world of retail media,aft

22、er other c-stores like 7-Eleven and Caseys launched their networks in 2022 and 2023.But despite coming a bit late to the party,the potential for Wawas Goose Media Network is significant thanks to a cadre of highly loyal visitors who enjoy the physical shopping experience the c-store chain offers.In

23、May 2024,Wawas share of loyal visitors(defined as those who visited the chain at least twice in a month)was 60.1%.In contrast,other leading c-store chains operating in Wawas market area QuickTrip and 7-Eleven,for example saw loyalty rates of 56.0%and 47.9%,respectively,for the same period.Additional

24、ly,Wawa visitors browsed the aisles longer than those at other convenience retailers.In May 2024,39.9%of Wawa visitors stayed in-store for 10 minutes or longer,compared to 29.6%at QuickTrip and 25.7%at 7-Eleven.Wawas loyal customer base and longer visit durations make it a strong contender in the re

25、tail media space.By harnessing this high level of customer engagement,Wawa can draw in advertisers and develop targeted marketing strategies that resonate with its dedicated shoppers.2024 Placer Labs,Inc.|More insights at placer.ai|9Doubling Down on MiamiWawa has been on an expansion roll over the p

26、ast few years,with plans to open at least 280 stores over the next decade in North Carolina,Tennessee,Georgia,Alabama,Ohio,Indiana,and Kentucky.The chain has also been steadily increasing its footprint in Florida between January 2019 and April 2024,Wawa grew from 167 Sunshine State locations to 280,

27、with more to come.And analyzing changes in Wawas visit share in one of Floridas biggest markets the Miami-Ft.Lauderdale DMA shows how successful the chains local expansion has been.Between January 2019 and April 2024,Wawa more than doubled its 2024 Placer Labs,Inc.|More insights at placer.ai|10categ

28、ory-wide visit share in the Miami area(i.e.the portion of total c-store visits in the DMA going to Wawa)from 19.0%to nearly 40.0%.A Growing and Evolving AudienceA look at changes in Wawas Miami-Ft.Lauderdale trade area shows that the chains growing visit share has been driven by an expanding market

29、and an increasingly diverse audience.In April 2019,there were some 55 zip code tabulation areas(ZCTAs)in the Miami-Ft.Lauderdale DMA from which Wawa drew at least 3,000 visits per month.By April 2021,this figure grew to 96 and by April 2024,it reached 129.Over the same period,the share of“Family Uni

30、on”households in Wawas local captured market defined by the Experian:Mosaic dataset as families comprised of 2024 Placer Labs,Inc.|More insights at placer.ai|11middle-income,blue collar workers nearly doubled,growing from 7.4%in April 2019 to 14.4%in April 2024.2024 Placer Labs,Inc.|More insights at

31、 placer.ai|12These metrics show promise for advertisers aiming to expand their market reach to a growing,engaged audience.And businesses seeking to advertise to Wawa shoppers in the Miami area may choose to tailor their campaigns to match the expectations and preferences of Wawas shifting visitor ba

32、se.Final ThoughtsRetail media networks that make it easier to introduce shoppers to products and brands that are closely aligned with their preferences and habits offer a win-win-win for retailers,advertisers,and consumers alike.And Costco and Wawa are extremely well-positioned to make the most of this opportunity.2024 Placer Labs,Inc.|More insights at placer.ai|13