GroundTruth, the leading location-based marketing and advertising technology company, announced that it is expanding product-related advertising capabilities with the launch of In-Stock Local Ads. By increasing its ability to ingest and analyze massive levels of product supply data, GroundTruth’s next generation of in-stock marketing technology allows national and local retailers and CPG brands to manage inventory shortages at scale. In-Stock Local Ads works by serving shoppers similar product options for items that may not be available at specific store locations or by redirecting shoppers to alternative stores with higher levels of product availability.
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35% of shoppers are willing to substitute a similar brand or product for the out-of-stock items on their shopping lists1. “The impact of a true marketing strategy for out-of-stock items is much more meaningful than capturing a short-term sale,” said Dan Silver, Senior Vice President of Marketing, GroundTruth. “The real danger lies in brand switching. Having a highly localized solution in place can prevent the more significant loss of a loyal customer and their lifetime value.”
2021 Marketing Investments Could Be at Risk This Holiday Season
In the first half of 2021, total U.S. media ad spending grew by 32% year-over-year to reach $130 billion2. In fact, GroundTruth data reveals that for the first time in July 2021, the number of ‘repeat visitors’ outpaced ‘new visitors’ to retailers since July 20203. With the emergence of supply chain shortages, those marketing investments to get consumers back into stores and increase brand loyalty are at risk as consumers look to spend more this holiday season. With consumers traveling an average of 10-more miles to retailers than they did in 20193, GroundTruth’s In-Stock Local Ads allow brands to dynamically serve ads based on product availability at nearby stores to reach shoppers who are willing to drive the extra mile for products.
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