Business
Perion Introduces Undertone’s New Division to Address Retail’s Biggest Unsolved Digital Dilemma
TEL AVIV & NEW YORK--(BUSINESS WIRE)-- Perion Network Ltd. (NASDAQ:PERI) a global advertising technology company that delivers holistic solutions across the
About this update from Perion Network Ltd
[{"type":"text","content":" TEL AVIV & NEW YORK--(BUSINESS WIRE)--\nPerion Network Ltd. (NASDAQ:PERI) a global advertising technology company that delivers holistic solutions across the three main pillars of digital advertising – ad search, social media and display / video / CTV advertising – announced today that Undertone, a leader in data-driven, Intelligent High Impact campaigns across screens, has a new division dedicated to retail marketing. Retailers are now able to deliver dynamically updated, personalized, and geographically-sensitive pricing – on an item-by-item and bundled basis – across its suite of high impact digital display units.\n\nThe convergence of dynamic, AI-driven optimization and Undertone’s breakthrough creative has been beta tested in the circular market - with millions of consumer interactions - and has been proven to be an omni-channel home run, generating ROAS (Return On Ad Spend) up to 9x, increasing low price perception by over 60% and aiding in up to 83% brand awareness, per Lucid studies conducted.\n\nThe new Retail platform and its innovative digital circular could not come at a more perfect time. Grocery retailers are looking forward to enormous upside – industry sales are expected to reach $1.1 trillion by 2027, according to Grand View Research – as the pandemic has fueled growth in DTC (Direct-to-Consumer) and stay-at-home behaviors. But this comes in the face of the well-established slow death of print media, which has dramatically reduced the distribution of the conventional circular.\n\nMeghan Galligan, Senior Manager of Digital Media, and Experience at Stop & Shop, who participated in the high impact circular beta test, noted that:\n\n“Undertone’s high impact circular capabilities were extremely turn-key to execute and have allowed us transform the content and distribution of our weekly ad. Not only is it personalized, but Undertone’s interactive formats also provided the ideal canvas to showcase a curated selection of top deals each week, specific to geographic shopping behaviors. We are planning to scale this technology to ensure our customers are getting the content that is right for them. Based on the results of our initial campaigns, it’s clear our shoppers love it too!”\n\nUndertone plans to expand its Retail platform and Price & Item technology more deeply into the retail operating system, since the data solut...