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BFY Gen-Z, Millennial Opps: The Vitamin Shoppe taps new CMO amid digital display ad spend increase (Score 57)
Vitamin Shoppe (TVS) named Muriel Gonzalez its chief marketing and merchandising officer and EVP to handle all merchandising, marketing, product development and private brand initiatives. Gonzalez comes from Macy's, where she most recently served as EVP. We will likely see TVS's marketing strategy shift under her leadership.
Luckily for TVS itself, its health-oriented products such as vitamins, supplements, shelf-stable nutrition and healthy snacks remained relatively essential to consumers despite the global pandemic.
From August 2019-2020, Adbeat estimates the company has allocated $1.9m toward programmatic ads placed via Google DV360 ($1.2m) and Google Display Network ($531.6k) onto sites such as dailymail.co.uk, healthline.com, prevention.com, si.com and thesaurus.com. This spend amount has nearly doubled from the $700k spent from August 2018-2019.
Additionally, Magellan reports TVS has run 61 podcast ads within the past year, up exponentially from the 4 it ran the 12 months prior.
The company's increased digital display ad spend and usage of podcasts lead us to believe its target demographic primarily consists of better-for-you (BFY) Gen-Z and millennials, so you should also offer paid social and/or OTT ad space. Per Kantar data, TVS additionally utilizes print media via magazines.
Agency & martech readers - Reach out soon for potential media, digital analytics and/or social media management work under TVS's new CMO; the company has an internal creative agency and is not currently looking to outsource these services. Winmo states TVS works with Kaplow Communications (PR).