Female Millennial, Gen-X Opps: Grove Collaborative doubles its retail presence with new partnership (Score 80)
Sales Lead: Grove Collaborative (GC) recently established a partnership with CVS that doubled its retail presence.
- Consumers can now buy GC's products at over 2k CVS brick-and-mortars and on CVS's site.
- Since retail makes up 90% of the product categories in which GC operates, retail is critical to its omni-channel strategy.
- This move is hoped to bolster awareness of GC's sustainably packaged products.
- The company's products can also be found in retailers such as Target, Kohl's, Meijer, and Giant Eagle.
- The company is likely to:
- Seek additional potential retail distribution partners
- Keep working to build brand awareness
- Continue increasing TV spend
- Seek new agency partners as a result of last year's CMO hire (more below)
- Target demographic:
- Millennial and Gen-X women
Recent leadership shifts:
- GC's team also grew this year with the appointment of paid social performance marketing manager Chelsea Olle.
Additional spending insights:
- Broadcast insights (TV ad creative spend, effectiveness, impressions, and performance)
- YTD spend: GC has allocated roughly $7.2m toward national TV commercials YTD, more than double the roughly $2.8m allocated by this point last year.
- Last year: The company allocated around $4.1m toward this channel last year after not having utilized it in 2020.
- 2022 ad programming: GC's 2022 commercials have targeted Gen-X watching shows such as Friends, Dateline, The Golden Girls, NCIS: New Orleans, and The Drew Barrymore Show.
- Digital and social insights (digital ad spend, effectiveness, impressions, and performance)
- YTD spend: So far this year, the company has spent roughly $15.5m on digital ads, only about half of the roughly $28.3m spent within the same 2021 timeframe.
- YTD data: GC has earned ~1.5b digital impressions YTD via desktop video (35%), Instagram (34%), and Facebook (30%) ads.
- Top site destinations for this year's desktop video ads include cnn.com, craigslist.com, youtube.com, gamespot.com, and cnet.com.
- Last year: In 2021, the company's estimated full-year 2021 spend of $34.6m reached 4x that of $7.6m in 2020.
- Additional channel insights
- GC has also worked to build more brand awareness by working with influencers such as Drew Barrymore.
Additional agency insights:
- Opportunity: Contact soon to offer PR and/or media services.
- We still haven't heard of any roster shifts since GC appointed CMO Jennie Perry last year, so reviews could still follow her hire.
- Current agency roster:
- Camp + King: Creative, digital, and social AOR