Convenience store operator Seven-Eleven Japan Co. said Thursday that it will jointly set up a new company on retail media business with two advertising firms.
The new firm, Seven-Eleven Ad Connect, will begin operations on Sept. 1 with??100 million ($623,000) in capital.
The joint venture ¡ª which?Seven-Eleven Japan will hold an 80% stake in while?Dentsu Group Inc. and CyberAgent Inc. will each control 10% of ¡ª?will distribute optimal ads to digital signage in Seven-Eleven Japan stores and through a related app based on purchase data held by the company in order to increase customers and boost sales.
Ad distribution will also be optimized in accordance with weather, time of day and real-time inventory levels at Seven-Eleven Japan outlets.
Dentsu will cooperate through purchase data analysis and optimal ad display designing, while CyberAgent will create ads utilizing artificial intelligence.
In the current fiscal year, Seven-Eleven Japan plans to increase the number of its outlets equipped with digital signage by more than twofold to 8,700.
Among other Japanese convenience store operators, FamilyMart has installed digital signage in 11,000 stores while Lawson is conducting a test on such displays.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.