Just in time for the busy fall season, when health experts expect a surge in flu and coronavirus cases, CVS has a new offering for advertisers. On Monday, the pharmacy chain announced its CVS Media Exchange, a digital media platform that gives consumer packaged goods brands targeting access to specific customers based on the retailer’s own shopping data.
The network “allows brands to focus their ad spend on reaching the right customer at the right time, with maximum efficiency,” said Norman de Greve, CVS Health’s chief marketing officer, in a statement, noting that CVS “can target both loyal and category shoppers and accurately validate the effectiveness of a campaign by measuring both online and offline sales.”
This “closed loop” system, in which CVS can use its own shopper data to show brands which ads and which placements are resonating with sales, could be particularly valuable to advertisers looking to avoid risk during the current economic climate.