There’s another new entrant into the retail media playing field--discount retailer Dollar Tree recently announced its plans to launch a retail media network, Chesapeake Media Group.
The network offers brand partners fully-managed services to advertise within the Dollar Tree app and FamilyDollar.com. Dollar Tree’s other brand Family Dollar also partnered with Swiftly and Aki Technologies to support the new network. The “key benefit” of the network is the ability for brands to connect with shoppers instantly and contribute to purchase decisions in real time, according to Dollar Tree.
The move highlights the burgeoning growth of retail media. During the Covid-19 pandemic, when more consumers turned to online shopping to make purchases, retail media experienced explosive growth. With more retailers creating their own networks, the question remains of how brands will be able to strategize and advertise across so many platforms to reach consumers.
“Brands will be able to directly reach millions of families across America through a variety of digital options made possible through our newly-formed retail media network, Chesapeake Media Group, powered by Swiftly and Aki,” Richard McNeely, enterprise chief merchandising officer, said in a statement. “We are excited to provide our CPG Brand partners with an efficient, one-stop-shop to instantly engage with their customers through an innovative, tailored approach.”
The announcement comes as Dollar Tree is quickly expanding. This year, the retailer plans to open 600 new stores, including 200 Family Dollar stores and 400 stores under the Dollar Tree brand. The company is also hiring thousands of part- and full-time employees and recently announced a new executive appointment. Alasdair James, formerly the CEO of home goods retailer Pier 1 Imports, joined Dollar Tree as executive vice president, merchandising and supply chain.
Chesapeake Media Group offers brand partners dynamic advertising opportunities with targeted content, sponsored searches and product recommendations. The Group provides full-funnel solutions and closed-loop reporting, and key strategies include promoted items, category takeovers, brand experiences, premium advertisements and coupon placements, personalized videos, static interstitial advertisements, expandable rich media and standard banners, in addition to analytics.
Family Dollar boasts 14 million users in its Family Dollar Smart Coupons program. The company currently operates 7,900 stores.
“As a growth company, we are focused on continuing to advance and evolve our offerings in order to deliver long-term value to all of our stakeholders, including customers, suppliers, associates, and shareholders,” McNeely said.