Place Exchange and Best Buy Canada Partner to Unlock Premium In-Store Retail Media Opportunities
October 22, 2024
Place Exchange enables advertisers to programmatically access Best Buy Canada’s in-store digital screens for the first time.
Toronto, Canada (October 22, 2024) — Place Exchange, the leading independent SSP for programmatic out-of-home (OOH) media, today announced its integration with Best Buy Canada, enabling advertisers to programmatically access thousands of premium digital screens strategically placed throughout hundreds of Canadian stores. For the first time, advertisers can tap into the power of Best Buy Canada’s in-store retail media network, Best Buy Ads, to reach the 50 million consumers who visit the stores annually.
Best Buy Canada in-store screens are located at highly visible locations to engage shoppers, including video monitor walls, checkout areas, customer service stations, appliances department, and many other zones within the stores. Place Exchange enables advertisers to access this inventory through various programmatic buying options, including open auction and private marketplace deals directly within integrated omnichannel and OOH DSPs.
With 84% of total retail sales still taking place in physical stores according to Statista, advertisers are turning to in-store media to engage consumers in the physical world before and during the shopping experience. As the holiday shopping season approaches, consumer electronic products remain a highly popular gifting category, making this partnership a timely and valuable opportunity for advertisers to reach a tech savvy and affluent audience in a purchasing mindset.
“We are excited to bring this opportunity to advertisers just as we head into the busiest shopping season of the year,” said Tara Wilkinson, Director of Strategy for Best Buy Canada. “Until now, our programmatic retail media offerings were limited to digital advertising on BestBuy.ca. Through this first-of-its-kind partnership in Canada, advertisers will now be able to engage with our tech enthusiast shoppers in-store, while they are discovering new products and right at the point of purchase. It’s an exciting evolution in how brands can reach customers through retail media networks.”
Best Buy Canada is the latest retail partner adding millions of impressions to Place Exchange’s Retail Media Network, the largest network of in-store retail media in North America, with over 500,000 screens and over 98 billion monthly impressions. This unprecedented scale gives advertisers the ability to deliver contextually relevant messaging seamlessly woven into the shopping experience, with targeting, execution, and measurement that is integrated with other programmatic channels as part of a holistic, omnichannel approach.
“Best Buy Ads Canada joining the Place Exchange network marks a significant advancement in retail media in Canada. We’re delivering a unique offering for advertisers seeking to engage tech enthusiasts and other valuable consumer segments with high purchase intent,” said Nick Bennett, SVP of Partnerships at Place Exchange. “The ability to combine the growing footprint of in-store retail media with other programmatic channels within the DSPs buyers already use will empower brands to build comprehensive, highly targeted, and measurable campaigns that resonate with today’s connected consumers.”
About Place Exchange
Place Exchange is the leading independent SSP for programmatic out-of-home media. Integrated with omnichannel and OOH DSPs, Place Exchange’s patented technology uniquely offers agencies and advertisers the opportunity to fully unify buying and measurement of OOH media with other digital channels, leveraging the same workflow, creatives, reporting, and attribution as for online and mobile advertising. Place Exchange’s unmatched premium supply ecosystem adheres to its Place Exchange Clear certification program that delivers buyers quality, consistency, transparency, and compliance. For OOH media partners, Place Exchange offers the opportunity to access untapped programmatic ad spend with full transparency and control. For more information about Place Exchange, visit www.placeexchange.com. Place Exchange is a 2023 Deloitte Technology Fast 500™ company and a 2024 AdExchanger Programmatic Power Player.
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.