Thrive Market Announces New Retail Media Network Powered By Instacart

Rhea-AI Summary

Thrive Market, an online grocer specializing in healthy and sustainable products, has partnered with Instacart (NASDAQ: CART) to launch a new retail media network. This collaboration leverages Instacart's Carrot Ads solution to enhance personalization for Thrive Market's 1.5 million members and create value for its brand partners.

The partnership will enable brands to target specific campaigns to Thrive Market's engaged audience, utilizing sponsored product and display advertising solutions. Advertisers will have access to self-service tools, optimized bidding options, and critical metrics such as attributed sales and return on ad spend (ROAS). The initiative aims to simplify product discovery for consumers while offering brands, especially emerging ones, a powerful platform to connect with health-conscious shoppers.

Positive

• Partnership with Instacart (CART) to launch a retail media network, potentially increasing revenue streams
• Access to Instacart's advanced ad technology and sales capabilities through Carrot Ads
• Potential for improved personalization and user experience for Thrive Market's 1.5 million members
• New advertising opportunities for brands, especially emerging ones, on Thrive Market's platform
• Seamless extension of existing Instacart Ads campaigns to Thrive Market's e-commerce experience

Negative

• None.

The healthy and sustainable online grocer taps Instacart's Carrot Ads solution to help brands connect with consumers throughout their shopping journey

LOS ANGELES and SAN FRANCISCO, Sept. 10, 2024 /PRNewswire/ -- Thrive Market, the healthy and sustainable online grocery store carrying a curation of organic, non-GMO and health-conscious products, today announced its new retail media network in partnership with Instacart (NASDAQ: CART), the leading grocery technology company in North America. After growing to more than 1.5 million members, Thrive Market will leverage Instacart's Carrot Ads solution to create a more personalized member experience, and drive value for the high-quality and sustainable brands on its platform.

"Thrive Market's personalized experience makes healthy living more accessible," said April Lane, Thrive Market's Chief Merchandising Officer. "This partnership redefines how our members can find products that fit their family's needs, reducing the cognitive load and making shopping easier with Instacart's Carrot Ads Solution."

Carrot Ads extends Instacart's ad technology and sales capabilities to support retail partners, like Thrive Market, in building and growing their own retail media networks on their owned websites and apps.

"Retail media has emerged as one of the ad industry's fastest growing media channels because of its performance for advertisers and personalization for consumers. We're proud to extend our ad technology to Thrive Market and bring their vision for a retail media network to life with Carrot Ads. Our new partnership will offer brands of all sizes a powerful, scaled ad platform to connect directly with Thrive Market's engaged audience," said Instacart's Chief Business Officer Chris Rogers.

Using Carrot Ads, brands can meaningfully connect with Thrive Market's members, introducing relevant products and simplifying the purchase process to enhance their shopping experience. Brand partners will be able to target specific campaigns to consumers shopping on Thrive Market's website, enabling them to drive measurable growth. Brands will be able to access self-service tools to easily set up, manage, and monitor their campaigns, as well as optimized bidding options to drive specific business goals like acquisition and sales. These self-service capabilities are particularly important for many up-and-coming emerging brands available on Thrive Market. Advertisers will also have access to critical metrics including attributed sales, return on ad spend (ROAS), and more.

Brands will be able to run campaigns leveraging Instacart's sponsored product and display advertising solutions on Thrive Market's website and app. Sponsored product ads help brands drive sales throughout the shopping experience, and display ads allow brands to showcase engaging creative, driving product discovery as consumers are actively building their baskets. This offers Thrive Market members seamless access to high-quality products curated to match their needs in the right place, at the right time.

Today's announcement also expands the opportunities for brand partners by:

• Maximizing Reach and Exposure Seamlessly: Brands already running Instacart Ads campaigns will automatically and seamlessly extend their reach to include Thrive Market's ecommerce experience, enhancing exposure and engaging more relevant audiences.
• Unlocking New Opportunities for Innovative Brands: Known for its health-conscious and high-quality products, Thrive Market, together with Carrot Ads, provides a valuable platform for emerging brands to grow awareness and inspire trial among consumers.

Carrot Ads capabilities on Thrive Market will be available to brands in the coming months.

About Thrive Market
Thrive Market, Inc. was founded in 2014 with a mission to make healthy and sustainable living easy and affordable for everyone. As an online, membership-based market (around 1.5M members), Thrive Market delivers the highest quality, healthy, and sustainable products at member-only prices. At the same time, every annual membership sponsors a free membership for a student, teacher, veteran, nurse, first responder, or a family in need. Thrive Market carries a hyper-curated catalog of organic and non-GMO products and offers 90+ filters and values, allowing you to shop by diet and lifestyle. The brand's social impact arm, Thrive Gives, has raised more than $16M since its inception to fund food access and environmental sustainability causes. Thrive Market has been carbon neutral since 2014; in 2020, it became the largest online grocer in the U.S. to be a Certified B Corporation, and in 2023, it converted to a Public Benefit Corporation. In 2024, after nearly a decade of advocating and working with the USDA, Thrive Market became the first online-only grocer to accept SNAP EBT online. Visit ThriveMarket.com or follow @ThriveMarket to learn more.

About Instacart
Instacart, the leading grocery technology company in North America, works with grocers and retailers to transform how people shop. The company partners with more than 1,500 national, regional, and local retail banners to facilitate online shopping, delivery and pickup services from more than 85,000 stores across North America on the Instacart Marketplace. Instacart makes it possible for millions of people to get the groceries they need from the retailers they love, and for approximately 600,000 Instacart shoppers to earn by picking, packing and delivering orders on their own flexible schedule. The Instacart Platform offers retailers a suite of enterprise-grade technology products and services to power their e-commerce experiences, fulfill orders, digitize brick-and-mortar stores, provide advertising services, and glean insights. With Instacart Ads, thousands of CPG brands – from category leaders to emerging brands – partner with the company to connect directly with consumers online, right at the point of purchase. With Instacart Health, the company is providing tools to increase nutrition security, make healthy choices easier for consumers, and expand the role that food can play in improving health outcomes. For more information, visit www.instacart.com/company, and to start shopping, visit www.instacart.com.

For anyone interested in becoming an Instacart shopper, visit https://shoppers.instacart.com/.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/thrive-market-announces-new-retail-media-network-powered-by-instacart-302243386.html

SOURCE Maplebear Inc. dba Instacart

FAQ

What is Thrive Market's new partnership with Instacart (CART) for?

Thrive Market has partnered with Instacart (CART) to launch a new retail media network powered by Instacart's Carrot Ads solution. This partnership aims to create a more personalized shopping experience for Thrive Market's members and provide value for brands on its platform.

How will brands benefit from Thrive Market's new retail media network?

Brands will be able to run targeted campaigns on Thrive Market's website and app using sponsored product and display advertising solutions. They'll have access to self-service tools, optimized bidding options, and key metrics like attributed sales and ROAS. This is particularly beneficial for emerging brands looking to grow awareness and inspire trial among health-conscious consumers.

When will Carrot Ads capabilities be available on Thrive Market?

According to the announcement, Carrot Ads capabilities on Thrive Market will be available to brands in the coming months.

How many members does Thrive Market have as of September 2024?

As of September 2024, Thrive Market has grown to more than 1.5 million members.