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Kevel introduces Retail Media Cloud to power competitive retail ads
Thu, 21st Mar 2024

Kevel, the API-led SaaS ad platform, is introducing the Kevel Retail Media Cloud, a new solution designed to enable retailers to enter the retail media landscape competitively. This comes just after the company's recent $23M Series C raise and the appointment of former Adobe and executive, Puja Rios, as President/COO.

As competition from online giants such as Amazon and Google intensifies, Kevel's introduction of the new Retail Media Cloud solution aims to empower independent and smaller retailers with the technology they need to compete effectively, promote their brand and drive growth.

Kevel's Retail Media Cloud solution consolidates the company's ad serving, forecasting, audience building and self-serve capabilities. This unified system will empower retail media publishers and networks to distinguish themselves distinctly and effectively in the ever-competitive retail media market.

The solution addresses a significant challenge in the retail media landscape – the inability for multi-channel retailers to exploit their own sophisticated data models, algorithms, and machine learning capabilities in ad serving environments. The Retail Media Cloud has been designed to change that by enabling retailers to integrate their own relevancy scoring and target their ads effectively, thereby creating relevant customer experiences.

This innovation is key at a time when the billion-dollar retail media industry is facing increased demand for inventory, flexibility, and ROI from retail media platforms. The Retail Media Cloud is aimed at enabling retail media and marketplace clients to offer the optimum combination of data targeting, ad formats and measurement, while maintaining their brand identity and the quality of shopper experiences.

James Avery, Founder and CEO of Kevel stated, "Retailers feel stuck turning to run-of-the-mill solutions and offering the same old ad formats through third-party providers or their own in-house solution. This may boost their bottom line to 3% GMV in the short term, but won't sustain against innovative players like Amazon and Walmart." Avery pointed out that the new Retail Media Cloud offers retailers the chance to mitigate risk while building a distinctive ad platform with flexible tools.

Already, innovative retailers and marketplaces such as Edmunds, Slickdeals and Farfetch are leveraging Kevel's Retail Media Cloud to manage their points of differentiation including ad formats, site experience, usage of unique data and providing measurable results for their advertising partners. This solution offers retailers the opportunity to scale their own ad platforms and capture increased media spend without incurring hefty build costs.

Eugene Faynberg, VP of Ad Operations at Slickdeals, commented on their decision to adopt Kevel's solution, stating: "Our homegrown solution served us well, but lacked some functionality around reporting, targeting, and budget pacing. Kevel allowed us to easily add these features and opened up opportunities we didn't have before.”

In the increasingly crowded digital retail advertising market, the retail media cloud solution positions Kevel at the forefront, both in terms of innovation and meeting the current and future demands of the retail media industry.