Thrive Market will use Instacart's Carrot Ads platform to allow advertisers to create and manage personalized, targeted advertising campaigns.Thrive Market
Online grocer Thrive Market partnered with Instacart on a retail media network to help brands better connect with shoppers, the companies announced this week.
Thrive Market will use Instacart's Carrot Ads platform to allow advertisers to create and manage personalized, targeted advertising campaigns geared toward Thrive's more than 1.5 million members.
"Our new partnership will offer brands of all sizes a powerful, scaled ad platform to connect directly with Thrive Market's engaged audience," Instacart Chief Business Officer Chris Rogers said in a statement.
Advertisers will be able to create campaigns targeted to Thrive's health-and-wellness focused shoppers, while also being able to access self-service tools to manage and monitor their campaigns, including sponsored product ads.
Thrive is known for selling better-for-you products from a variety of up-and-coming CPG brands, such as Ghia non-alcohol alternative beverages, Goodles mac & cheese, and Biena chickpea snacks.
The full suite of Carrot Ads capabilities will be rolled out in the coming months, the companies said.
The retail media offering will also be a boon for Thrive's customers as well as advertisers, CMO April Lane said.
"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," Lane said.
Retail media networks have taken off in recent years, for grocers and other retailers, as brands look to expand their revenue streams.
Supermarket giant Walmart last month reported 30% growth in its Walmart Connect retail media platform, a channel that has swiftly become a major revenue driver for the company.
"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," Rogers said.
Los Angeles-based Thrive Market was founded in 2014. The membership-based retailer sells a curated selection of organic and non-GMO products, tailored to specific diets and lifestyles.