Here’s today’s AdExchanger.com news round-up… Want it by email? Sign up here.
Actions Speak Louder…
Google added Best Buy, Nike and Sephora to Shopping Actions, its ecommerce search service that charges retailers per transaction rather than by clicks or impressions. The product already features some of the largest store brands in the United States, including Walmart, Target and Costco. Shopping Actions acts as a universal shopping cart for voice or web searches by consolidating payments and loyalty cards, reports 9to5Google. And since Google gets paid per purchase, the service gives Google access to the brimming pool of dollars that shopper marketers are bringing online. Google’s Shopping Actions also shows how much Amazon’s rise has changed the calculus for retailers, which have warmed to the idea of a Google-based universal retail shopping cart. The same trend is on display with Instacart, the grocery delivery provider that just raised $600 million to push its valuation past $7 billion, buoyed by sudden growth as grocers onboard it as an ecom partner before Amazon eats their lunch. More.
Omnicom sold 19 companies, reduced headcount by 7,000 and consolidated real estate in Q3, helping the holding company boost quarterly net income by 13.4% YOY despite flat revenue, it disclosed Tuesday in its Q3 earnings report. Organic growth inched up 2.9% for the quarter, beating expectations, led by strong growth in Europe and Asia Pacific; US organic growth was 0.6%. In Omnicom’s earnings call, CEO John Wren expressed cautious optimism that growth in the US would improve, citing the future benefit from BBDO becoming Ford’s creative agency of record and WarnerMedia consolidating its US media business with Hearts & Science. More.
Pinterest on Tuesday rolled out features to make it easier for users to buy directly on its platform, including up-to-date pricing, in-stock information and links that take shoppers to the retailer’s website. Pinterest will also show similar products under fashion and home decor pins to keep users browsing and shopping. As Pinterest looks toward a 2019 IPO and competes for attention with platforms such as Instagram, which has been beefing up its own commerce offering, it needs to improve its position in product discovery and direct transactions, TechCrunch reports. “We can give you recommendations for products to buy based on your unique taste and what’s trending, and show you a range of visual ideas,” says Tim Weingarten, head of shopping products. More.
But Wait, There’s More!
- DTC Brands Are Trying Snapchat – Digiday
- UNC Study Shows How Media M&A Decimated Local News – Poynter
- Twilio Agrees To Buy Email API Platform SendGrid For $2B – release
- Facebook Plans Camera-Equipped TV Device – Cheddar
- Mobile Ad Spend May Surpass All Traditional Media By 2020 – eMarketer
- US Credit Card Giants Flaunt India’s New Law On Personal Data – NYT
- Springbot Closes $15M Round For SMB Ecommerce – release
- Amazon US Prime Membership Growth Slows – Bloomberg
- Toyota Sees A Boost Applying Blockchain To Digital Ad Buys – Ad Age
- AudienceX Empowers Advertisers With $5 Million Marketing Amplification Fund – release