In a significant move that could reshape the retail media industry, The Home Depot, the world's largest home improvement retailer, has announced a partnership with Kevel, an API-first ad serving company, to revolutionize its retail media network, Orange Apron Media. This collaboration marks a pivotal moment in the evolution of retail media technology, as The Home Depot seeks to in-house and transform its advertising capabilities.
The partnership centers around the implementation of Kevel's Retail Media Cloud™, a flexible, API-based solution that will power Orange Apron Media's in-house journey. This strategic decision comes after six years of Orange Apron Media providing home improvement retail media solutions, signaling a new era of transformation and innovation for the company.
By leveraging Kevel's technology, Orange Apron Media aims to build a differentiated retail media network that adds value to its ad products. The primary goal is to enable advertisers to connect with customers closer to the point of purchase, a crucial factor in today's competitive retail landscape. This move is expected to enhance the overall customer experience across both owned and off-site channels through improved storytelling and personalization, utilizing The Home Depot's unique first-party data.
Melanie Babcock, vice president of Orange Apron Media and Monetization, emphasized the importance of this partnership, stating, "Providing the best possible service and experience for our customers and our advertising partners is at the top of our list of priorities. Finding like-minded partners, like Kevel, makes it easier to build custom solutions that help brands connect with customers at the right place and at the right time."
The collaboration between Kevel and Orange Apron Media is particularly significant in the context of the rapidly evolving digital advertising landscape. As retailers increasingly seek to differentiate themselves and maximize the value of their first-party data, the ability to build customized, in-house retail media solutions becomes crucial. Kevel's Retail Media Cloud™ stands out as the only API-based solution for in-housing retail media technology, offering retailers like The Home Depot the flexibility to create unique, brand-specific advertising platforms.
James Avery, Founder & CEO of Kevel, highlighted the shifting dynamics in the retail media landscape, noting, "There has been a large shift in the retail media landscape as brands focus on the retail media networks that deliver real value versus those that are commoditized and not fit for purpose. This is pushing retailers to move from off the shelf solutions to build high-end, differentiated retail media networks."
The implications of this partnership extend beyond The Home Depot and Kevel. It signals a broader trend in the retail industry, where major players are recognizing the need for more sophisticated, tailored advertising solutions. By bringing their retail media technology in-house, companies can better control their data, offer more innovative ad formats and targeting options, and ultimately provide a more seamless and personalized experience for both advertisers and customers.
For advertisers, this partnership promises enhanced opportunities to reach consumers at critical decision-making moments. Orange Apron Media's commitment to ensuring advertisers receive at least a two-times return on their ad spend underscores the potential value of this evolved platform. Moreover, the focus on creating an enhanced omnichannel customer experience through ads that tell a story across the customer journey represents a significant step forward in retail media effectiveness.
As the retail media landscape continues to evolve, partnerships like the one between The Home Depot and Kevel are likely to become increasingly common. These collaborations have the potential to drive innovation, improve advertising efficiency, and ultimately transform the way retailers and brands interact with consumers in the digital age. The success of this initiative could set a new standard for retail media networks, encouraging other major retailers to reevaluate their approaches to advertising technology and data utilization.
