Citi launches commerce media platform
Citi has launched Citi Commerce Media, turning its US card transaction data into an advertising platform for brands.
Citi’s US Consumer Cards business has launched Citi Commerce Media, a media platform that connects brands with Citi’s US credit card customers across its digital channels.
The launch follows Citi’s agreement to acquire Kard, a commerce media and rewards platform, which will add to the platform's capabilities.
The platform turns Citi's transaction data into an advertising offer for brands. The scale behind it is more than 70 million US customers and 6.5 billion transactions a year across more than 700 spending categories.
It helps brands reach customers at key moments in their purchase journey, across travel, dining, entertainment, retail and everyday spending. It combines three core capabilities: transaction data to identify high-intent audiences, reach across Citi.com, the Citi Mobile app and paid media properties, and closed-loop measurement to prove return on ad spend.
Abhinav Anand, Head of Value Cards, Lending and Commerce, said: "By leveraging Citi's scale, transaction insights and measurement capabilities, we can help our partners better anticipate consumer needs, reach the right audience at the right moment.”
Initial campaigns across retail, payments, technology, and beauty and wellness delivered up to 5x incremental return on ad spend for one online retailer.
Citi is pitching the platform to advertisers on deeper audience insight, measurable results and brand-safe environments, while promising customers offers that better reflect how they spend.
The move follows the retail media model built by the likes of Amazon and Tesco Clubcard, as banks increasingly look to turn first-party transaction data into an advertising asset.