Best Buy Ads Canada Partners with Rokt to Deliver Highly Relevant Customer Experiences for the Holidays and Beyond

Rhea-AI Summary

Best Buy Ads Canada has partnered with Rokt, an ecommerce technology company, to enhance customer experiences through AI-driven personalized advertising. The partnership enables Best Buy to display curated third-party brand messages on BestBuy.ca's confirmation page from non-endemic advertisers like Sirius XM, HelloFresh, and DoorDash.

Rokt's machine learning technology targets shoppers during the final stages of transactions when conversion likelihood is highest. The partnership aims to drive customer engagement and loyalty through personalized ad experiences. Rokt's network is expected to power over 4.6 billion transactions in 2024 across more than 20,000 businesses.

Positive

• Partnership enables new revenue stream from non-endemic advertising
• Access to Rokt's extensive network powering 4.6B transactions annually
• Enhanced customer engagement through AI-driven personalization

Negative

• None.

News Market Reaction

-1.22%

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-1.22% News Effect

On the day this news was published, BBY declined 1.22%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Partnership Enables Best Buy Ads Canada to Drive Engagement and Loyalty

NEW YORK, Dec. 17, 2024 /PRNewswire/ -- Rokt, the leading ecommerce technology company using machine learning and AI to make transactions more relevant to each shopper, today announced it has partnered with Best Buy Ads Canada ahead of the holiday season to deliver curated transaction experiences to the company's online customers. Best Buy Ads Canada will use Rokt's technology to power highly relevant messages from third-party brands, whose products and services the company does not directly sell itself, on the confirmation page of the BestBuy.ca ecommerce site.

"Our partnership with Rokt gives us a new way to enhance the online customer experience by presenting shoppers with offers and messages that are relevant to them," said Tara Wilkinson, Director of Strategy, Best Buy Canada. "Ad personalization is critical to the online customer experience. Rokt's technology delivers superior ad engagement which speaks directly to relevance, and that's why we chose to partner with Rokt—their offering is refreshingly unique."

Rokt enables companies to deepen relationships with their existing customers by using machine learning to present highly relevant offers to each shopper in the final stages of an ecommerce transaction, when they are most likely to convert. By leveraging Rokt's technology, Best Buy Ads Canada is enabling non-endemic advertising partners such as, Sirius XM, HelloFresh and DoorDash to reach its online shoppers with unique offers that drive customer loyalty and make the overall shopping experience more engaging.

"Best Buy is a trusted destination for all things consumer electronics and we're proud to launch this partnership in time for the holidays to enhance the shopping experience for the company's online customers," said Laura Cosgrove, VP Retail Strategic Partnerships at Rokt. "By powering relevant messages from non-endemic brand partners, Best Buy can continue to engage its customers by bringing them relevant content."

Rokt's trusted, scaled, ecommerce network will power more than 4.6 billion transactions in 2024 alone across over 20,000 leading businesses, allowing merchants to create a seamless customer experience with complete control over what is displayed to their shoppers. This news follows Rokt's recent announcements of partnerships with Ulta Beauty, Just Eat Takeaway.com, and Macy's along with their new AI-based adaptive content tools.

About Best Buy Canada

A wholly owned subsidiary of Best Buy Co., Inc. (NYSE:BBY), Best Buy Canada Ltd. is one of Canada's largest and most innovative omnichannel retailers, operating the Best Buy, Best Buy Mobile, Best Buy Express and Geek Squad (www.geeksquad.ca) brands. With over 320 Best Buy, Best Buy Mobile and Best Buy Express stores across Canada and an expanded assortment of lifestyle products offered through BestBuy.ca, Best Buy is a leader in total retail, catering to customers how, when, and where they want to shop. Best Buy Canada is committed to making a positive impact in the community with programs and partnerships that support youth to connect with technology to advance their education. For more information, visit BestBuy.ca.

About Rokt

Rokt is the global leader in ecommerce, enabling companies to unlock value by making each transaction relevant at the moment that matters most, when customers are buying. Rokt's AI-powered relevance platform, built over the last 11 years, and scaled network power billions of transactions annually for the world's leading companies, including Live Nation, AMC Theatres, PayPal, Uber, Hulu, Staples, Albertsons, HelloFresh and more. Headquartered in New York City, the company operates in 15 countries across North America, Europe and the Asia-Pacific region. To learn more, visit Rokt.com.

Media Contact
Sarah Fisher, VP Communications
sarah.fisher@rokt.com 

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SOURCE ROKT Pte. Ltd.

FAQ

What is the impact of Best Buy's (BBY) partnership with Rokt for advertisers?

The partnership allows non-endemic advertisers like Sirius XM, HelloFresh, and DoorDash to reach Best Buy's online shoppers through personalized offers on BestBuy.ca's confirmation page.

How will the Rokt partnership affect Best Buy's (BBY) customer experience?

The partnership enhances customer experience by delivering AI-powered, personalized advertising messages and relevant offers during the final stages of transactions.

What technology is Rokt providing to Best Buy (BBY) in this partnership?

Rokt provides machine learning and AI technology that powers personalized advertising messages and offers on Best Buy's ecommerce confirmation page.

When will Best Buy (BBY) implement Rokt's advertising technology?

The partnership is launching during the 2024 holiday season to enhance the shopping experience for Best Buy's online customers.