Citrus, led by CEO Brad Moran, says it provides retailers like 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 launched its platform in December 2017 and now works with 20 retailers in Europe, the U.K., Asia, Australia and Latin America.
Citrus says it 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, the company says.
According to Citrus, CPGs are reaping the benefits of the platform with average ROIs in grocery of 2,000 percent and conversion rates above 60 percent globally.
Kurt Hasson, Hy-Vee group VP of e-commerce, said the grocer 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,” Hasson said. “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,” Moran said. “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.”