After testing since last fall, Macy’s has rolled out a partnership with Rokt to advance its Macy’s Media Network.
Macy's Chief Merchandising Officer Named the Fragrance Foundation's 2024 Circle of Champions Honoree
“It’s fully scaled to Macys.com but we continue to iterate and make changes to improve the performance of the ad placement,” Michael Krans, vice president of Macy’s Media Network , told WWD.
Krans said Macy’s started testing its partnership with Rokt last fall, and with a phased approach to testing and integration, slowly ramped up exposure to additional portions of Macy’s traffic online.
Rokt is a New York-based technology company utilizing AI and machine learning to help retailers and brands personalize the checkout process and present customers with offers from advertisers based on their likelihood to engage. Rokt’s platform, launched more than 11 years ago, powers billions of transactions annually for such businesses as Live Nation, AMC Theatres, PayPal, Uber, Hulu, Staples, Albertsons and HelloFresh, according to the company.
Through the Rokt partnership, shoppers on macys.com receive personalized offers from non-endemic advertisers including Hulu, Paramount Plus, Apple TV, HelloFresh and Vogue. The ad appears after the customer checks out, but before the order confirmation pops up. Rokt examines customer data provided by Macy’s to better inform decisions on what types of offers specific Macy’s customers are likely to respond to. Macy’s and Rokt work together on the formats and creative aspects of the ads, which are powered by Rokt.
Through its media network program, ads from brands sold at Macy’s also appear on macys.com, often from such major vendors as L’Oréal, Estée Lauder, Coty, Ralph Lauren, Calvin Klein and Tommy Hilfiger.
Last year, the Macy’s Media Network generated $155 million in revenues, up from $144 million in 2022.
Fashion Gets Caught Up in the Stock Market Sell-off
In the first quarter of this year, Macy’s Media Network revenue reached $37 million, up 27.6 percent from last year. The Macy’s Media Network, launched in August 2020, enables brands to advertise on Macy’s website and app.
Customers can see one to four offers. The Rokt technology determines what set of offers are served up to each shopper. The technology recognizes when an offer is declined, and will serve up an alternative offer on the next transaction.
“We are optimistic about continuing to scale and grow this partnership,” said Krans. Asked how the partnership might grow, Krans said, “We could [add] this integration to Bloomingdales.com, and we are exploring leveraging Rokt technology to promote other Macy initiatives such as the Macy’s credit card and the Macy’s Star Rewards loyalty program.”
“Macy’s is an iconic American retailer, and we are extremely proud to partner with the incredible Macy’s Media Network team to drive increased value for its customers,” Elizabeth Buchanan, chief commercial officer at Rokt, said in a statement Thursday. “This partnership is empowering Macy’s to connect more closely with its online customers by delivering highly relevant messages from our non-endemic advertising partners at the end of the purchase when they are still in a transaction mindset, making the shopping experience more memorable, personal and impactful.”
“Macy’s Media Network has seen increased customer engagement since launching our partnership with Rokt,” added Krans, in his prepared statement. “Rokt’s unique AI-powered technology enables us to use our first-party data to provide our customers with high quality, premium offers from non-endemic advertisers post-purchase, communicating the right message at the right time, ultimately leading to increased customer engagement.”
Equinox Names Marc Mastronardi as New President
Most Popular
Comments / 0