JB Hi-Fi launches retail media network
JB Hi-Fi is launching a retail media network, a year after ex-CEO Terry Smart first floated the idea publicly
JB Hi-Fi is launching a retail media network across its 207 Australian stores, partnering with Retail Mediaworks for the venture.
According to an announcement from Retail Mediaworks, who have built similar networks for Coles and Bunnings, the initial phase will see in-store and online advertising from “near-endemic category leaders” across the retailer’s “high-reaching omnichannel touch points”.
Sarah Ladbury will be heading up the JB Hi-Fi team at Retail Mediaworks.
JB Hi-Fi’s former chief executive Terry Smart first addressed the idea of launching a retail network a year ago, during the company’s FY25 first half results call, when he confirmed that management was exploring the best way to create a retail media business, “on its own terms.”
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Gary Siewert, JB Hi-Fi’s director of marketing, said in a statement that retail media “plays an increasingly important role in how brands engage customers during moments of active consideration”.
Siewart said partnering with Retail Mediaworks “allows us to deliver targeted omnichannel advertising experiences that are relevant for shoppers and valuable for brand partners, supported by proven technology partners.”
John Georgas, CEO of Retail Mediaworks, said JB Hi-Fi’s entry into the market “reflects where retail media is heading”.
“We’re focused on building a scalable, data-led omnichannel platform that delivers measurable outcomes for brands and long-term growth for the retailer.”
In its full-year FY25 financials, JB Hi-Fi reported a 7.5% year-on-year increase in sales, to $7.1 billion.