logo
Why grocery data is a goldmine for digital marketers in financial services?

Why grocery data is a goldmine for digital marketers in financial services?

Zawya14-05-2025

Jon Jacobson, CEO of Omnisient, writes in Forbes.com about how grocery shopping data delivers incredibly precise marketing capability with high returns and lower costs.
As part of our series about the financial services industry's ability to innovate through access to grocery data, we look at how it delivers incredibly precise marketing capability with high returns and lower costs.
For decades, grocery retailers have made the insights available from their shopper purchase data to the consumer packaged goods (CPG) companies. These insights have proved to be incredibly powerful for the CPGs that have been able to optimize everything from product design to competitive marketing and promotions. Then, by utilising the reach and accuracy of the retailer media networks, they've then been able to get their messages in front of exactly the audience that they want, cutting budget waste and accelerating returns in the process.
That same opportunity is now available to the financial services industry where we are enabling those insights to drive new and improved acquisition targeting, deeper lifestyle understanding and improved suitability scoring. And, just like the CPGs, banks, insurers and lenders can harness the marketing precision that they offer.
Why grocery data is transforming financial services marketing
The strength of grocery data lies in its unique ability to provide timely, detailed insights into consumer behaviour. This makes it an ideal tool for precision marketing because it's been proven to be an accurate predictor of financial status, offering financial services a way to refine their targeting strategies and significantly improve marketing outcomes. We've also shown that it is an accurate predictor of financial status at an individual level, even for those who are currently invisible.
Here are the three key reasons why grocery data is a game changer:
1. Universality
Grocery shopping is a universal activity. It captures a broad and inclusive spectrum of the population, making it far more representative than other datasets.
Regardless of socio-economic status, nearly every household engages in grocery shopping regularly. This means grocery data provides insights that are applicable to a wide variety of consumers, from high-income earners to more budget-conscious individuals.
For financial services, this breadth of data enables marketers to build a deep understanding of consumer behaviour across demographic groups, offering a more complete picture of their target audience.
2. Recency
One of the most valuable aspects of grocery data is its recency. Consumers shop for groceries frequently, typically at least once a week, offering a constant stream of fresh, real-time insights. This ongoing flow of data provides marketers with a current snapshot of a consumer's financial habits and lifestyle, making it highly relevant for timely, personalised marketing efforts.
Unlike other first-party data that may become stale, grocery data reflects the consumer's present behaviour, allowing financial institutions to engage with customers when their needs are most pressing.
3. Granularity
Grocery data offers highly granular insights into consumer behaviour. It not only tracks what people are buying but also reveals details about their lifestyle such as health consciousness, family size and even inferred financial stability.
For financial services, this granularity allows for precision in targeting. Marketers can segment audiences based on their shopping preferences, such as the frequency of purchases, brand loyalty or price sensitivity, aligning messages with consumer needs. For instance, banks can target health-conscious individuals who regularly buy organic foods, or insurers can focus on families purchasing high volumes of baby products, suggesting a need for family-oriented financial products. This level of specificity leads to higher conversion rates and improved return on investment (ROI).
Reaching new customers after the cookie era via retail media networks
With the decline of third-party cookies and the rise of privacy regulations like GDPR and CCPA, digital advertising has become more challenging. Ad targeting has become less precise, leading to rising customer acquisition costs and declining ROI.
Retail media networks, however, offer a compelling solution for financial services marketers looking to reach new customers through hyper-targeted campaigns.
Two of our clients, Africa's largest bank and Africa's largest supermarket chain, partnered to use grocery shopping data and the grocer's retail media network to reach non-banked customers with a high propensity for credit card use. The targeted campaign yielded impressive results: a 74% reduction in cost per lead and a 728% ROI.
By partnering with grocery retailers, financial institutions can tap into these retailers' media networks to access highly segmented audiences based on shopping behaviour. These retail media networks allow banks and insurers to deliver personalised ads through various channels such as the retailer's website, mobile app, loyalty programmes, and even digital receipts and email newsletters. This precise targeting ensures that ads reach the most relevant consumers, driving better engagement and more efficient ad spend.
As financial services marketers explore the power of grocery data for precision marketing, it's also worth noting how these shopping habits can provide them with deeper insights into consumer creditworthiness, as discussed in my previous Forbes article.
Protecting consumer privacy
In an era of heightened privacy concerns, the use of grocery data must be approached carefully to ensure compliance with data protection regulations. Privacy-preserving data collaboration technologies play a critical role in making these partnerships possible. By securely combining datasets from different industries, such as a bank's credit data with a retailer's shopping data, companies can derive valuable insights without compromising consumer privacy.
These platforms use privacy-enhancing technologies like advanced encryption, anonymisation and tokenisation to ensure that sensitive consumer information remains protected. By doing so, financial services providers can confidently use first-party grocery data to enhance their targeting efforts while staying compliant with laws such as GDPR and CCPA.
Grocery data insights unlock customer acquisition
Grocery data's universality, recency and granularity provide the insights needed to target the right customers at the right time with relevant messaging. By embracing privacy-preserving data collaboration and leveraging retail media networks, banks and insurers can unlock new opportunities for growth while maintaining compliance with data protection regulations.
The future of customer acquisition lies in harnessing the power of grocery data to drive better marketing outcomes and improved ROI.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

visionOS 26 introduces powerful new spatial experiences for Apple Vision Pro
visionOS 26 introduces powerful new spatial experiences for Apple Vision Pro

Tahawul Tech

time35 minutes ago

  • Tahawul Tech

visionOS 26 introduces powerful new spatial experiences for Apple Vision Pro

Widgets become spatial and anchor in a user's space, Personas are more expressive and realistic, and new APIs unleash exciting opportunities for developers, creators, and enterprises. CUPERTINO, CALIFORNIA — Apple previewed visionOS 26, an expansive update packed with groundbreaking spatial experiences and new features for Apple Vision Pro. Everyday interactions become more immersive and personal, with widgets that integrate into a user's space, spatial scenes that use generative AI to add stunning lifelike depth to photos, striking enhancements that make Personas feel more natural and familiar, and shared spatial experiences for Vision Pro users in the same room. visionOS 26 also adds support for 180-degree, 360-degree, and wide field-of-view content from Insta360, GoPro, and Canon, while new enterprise APIs allow organizations to create spatial experiences unique to visionOS. And with support for PlayStation VR2 Sense controllers, players can enjoy a new class of games on Apple Vision Pro.1 'Apple Vision Pro has defined what's possible in this new era of spatial computing, and with visionOS 26, we're excited to push the boundaries even further,' said Mike Rockwell, Apple's vice president of the Vision Products Group. 'With brand-new ways for Vision Pro owners to connect, explore, work together, and enjoy content, we're incredibly excited for users to enjoy features like apps and widgets that they can arrange in their spaces, spatial scenes that offer a brand-new viewing experience for their photos, and dramatically enhanced Personas on Vision Pro.' Widgets Become Spatial Across the Apple ecosystem, widgets offer personalized and useful information at a glance, and with visionOS 26, widgets become spatial, integrating seamlessly into a user's space and reappearing every time they put on Apple Vision Pro. Widgets in visionOS 26 are customizable, with a variety of options for frame width, color, and depth. Beautiful new widgets — including Clock, Weather, Music, and Photos — all offer unique interactions and experiences. Users can decorate their spaces with favorite widgets, including stunning panoramas and spatial photos of their favorite memories, clocks with distinctive face designs, and quick access to their go-to playlists and songs on Apple Music. The Widgets app helps users find widgets, including those from compatible iOS and iPadOS apps, and developers will also be able to create their own widgets using WidgetKit. Enhanced Shared Spatial Experiences Users love how visionOS lets them connect with family, friends, and colleagues remotely, and with visionOS 26, they can share spatial experiences with other Apple Vision Pro users in the same room. They can come together to watch the latest blockbuster movie in 3D, play a spatial game, or collaborate with coworkers. Users can also add remote participants from across the world via FaceTime, enabling connection with people near and far. Dassault Systèmes, a leading provider of engineering and 3D design software, is leveraging this ability with their 3DLive app, bringing the ability to visualize 3D designs both in person and with remote colleagues. With visionOS 26, Personas are transformed to feel more natural and familiar. Taking advantage of industry-leading volumetric rendering and machine learning technology, the all-new Personas now have striking expressivity and sharpness, offering a full side profile view, and remarkably accurate hair, lashes, and complexion. Personas are still created on device in a matter of seconds, and new improvements to the setup process allow users to adjust and preview how their Persona looks spatially, and even pick glasses from over 1,000 variations. Introducing Spatial Scenes visionOS 26 makes spatial photos even more realistic, leveraging a new generative AI algorithm and computational depth to create spatial scenes with multiple perspectives, letting users feel like they can lean in and look around. Users can view spatial scenes in the Photos app, Spatial Gallery app, and Safari, while developers can use the Spatial Scene API to make their app experience even more immersive. Zillow is taking advantage of the API for their Zillow Immersive app, allowing users to see images of homes and apartments with the rich depth and dimension that spatial scenes offer. New Ways to Browse, Play, and Watch Users can select spatial browsing to transform articles on Safari, hide distractions, and reveal spatial scenes that come alive as they scroll. Web developers have the ability to embed 3D models directly into web pages, letting users shop and browse with depth and dimension, and see and manipulate 3D objects and models right in Safari. visionOS 26 supports native playback of 180-degree, 360-degree, and wide field-of-view content from Insta360, GoPro, and Canon. Users can enjoy their exciting 2D action footage the way it was meant to be seen. Developers can incorporate this new playback capability into their apps and websites. visionOS 26 also introduces support for the PlayStation VR2 Sense controller. Now, developers can deliver even more engaging gameplay experiences for Apple Vision Pro thanks to high-performance motion tracking in 6 degrees of freedom, finger touch detection, and vibration support. Enterprise APIs and Tools Companies around the world are harnessing spatial computing on Apple Vision Pro to supercharge their workflows for design, training, sales, education, and more. New capabilities like team device sharing let organizations easily set up and manage a shared pool of devices. Users can securely save their eye and hand data, vision prescription, and accessibility settings to their iPhone running iOS 26 and bring it to another Vision Pro, making sharing easier than ever. visionOS 26 adds support for Logitech Muse, a spatial accessory built for Apple Vision Pro that enables precise input and new ways to interact with collaboration apps like Spatial Analogue.1 Enterprise-focused APIs, like the new Protected Content API, ensure that only people who have been granted access can see confidential materials like medical records or business forecasts, while preventing copying, screenshots, and screen sharing. Additional visionOS 26 features include: More Apple Intelligence features — including updates to Image Playground — come to Apple Vision Pro. visionOS 26 also adds support for new languages: French, German, Italian, Japanese, Korean, and Spanish, along with support for English in Australia, Canada, India, Singapore, and the UK. 2 Look to Scroll allows users to explore apps and websites using just their eyes. Users can customize the scroll speed, and developers can integrate Look to Scroll into their visionOS apps. In the redesigned Control Center , features like Guest User, Focus, Travel Mode, and more are conveniently displayed in one view, letting users effortlessly manage their music, adjust their Environment settings, and connect to Mac Virtual Display. Users can unlock their iPhone while wearing Apple Vision Pro , even in a fully immersive experience like an Environment. This feature can be enabled in Settings for Face ID-enabled iPhone models running iOS 26. 3 visionOS 26 supports relaying calls from iPhone , so a user can now answer phone calls directly from Apple Vision Pro, or start a call from People View by selecting a contact's phone number or clicking on a phone number in a web page. 4 Home View now supports folders , letting users rearrange and group apps together. Availability All of these features are available for testing starting today through the Apple Developer Program at For more information, visit Apple Intelligence requires Apple Vision Pro running visionOS 26 with Apple Intelligence enabled and Siri and device language set to the same supported language: English (Australia, Canada, India, Singapore, UK, U.S.), French (Canada, France), German, Italian, Japanese, Korean, and Spanish (Mexico, Spain). Features are subject to change. Some features may not be available in all regions, all languages, or on all devices, and compatible hardware and software may be required.

Apple opens its AI to developers
Apple opens its AI to developers

Tahawul Tech

time35 minutes ago

  • Tahawul Tech

Apple opens its AI to developers

Apple announced recently a slew of artificial intelligence features including opening up Apple Intelligence's underlying technology in a modest update of its software and services as it lays the groundwork for future advances. The presentations at its annual Worldwide Developers Conference focused more on incremental developments, including live translations for phone calls, that improve everyday life rather than the sweeping ambitions for AI that Apple's rivals are marketing. A year after it failed to deliver promised AI-based upgrades to key products such as Siri, Apple kept its AI promises to consumers low-key, communicating that it could help with tasks like finding where to buy a jacket similar to one they have seen online. Behind the scenes, Apple hinted at a strategy of offering its own tools to developers alongside those from rivals, similar to a strategy by Microsoft last month. Apple software chief Craig Federighi said the company will offer both its own and OpenAI's code completion tools in its key Apple developer software and that the company is opening up the foundational AI model that it uses for some of its own features to third-party developers. 'We're opening up access for any app to tap directly into the on-device, large language model at the core of Apple,' Federighi said. In an early demonstration of this at work, the company added image generation from OpenAI's ChatGPT to its Image Playground app, saying that user data would not be shared with OpenAI without a user's permission. 'You could see Apple's priority is what they're doing on the back-end, instead of what they're doing at the front-end, which most people don't really care about yet,' said Ben Bajarin, chief executive of analyst firm Creative Strategies. Apple is facing an unprecedented set of technical and regulatory challenges as it kicked off its software developer conference. Shares of Apple, which were flat before the start of the event, closed 1.2% lower on Monday. 'In a moment in which the market questions Apple's ability to take any sort of lead in the AI space, the announced features felt incremental at best,' Thomas Monteiro, senior analyst at said. Compared with what other big AI companies are introducing, he added, 'It just seems that the clock is ticking faster every day for Apple.' That is a contrast to the ambitious vision laid out by Apple last year. 'They went from being visionary and talking about agents before a lot of other people did, to now realizing that, at the end of the day, what they need to do is deliver on what they presented a year ago,' said Bob O'Donnell, chief analyst at Technalysis Research. Apple executives said that developers will have access only to Apple's on-device version of Apple Intelligence, which does not tap into special data centres Apple built for its AI efforts. The on-device model is about 3 billion parameters, a measurement of the model's level of sophistication, meaning that it cannot handle the more complex tasks that cloud-based models can. Source: Reuters Image Credit: Apple

XTransfer Partners with BNP Paribas to Simplify Cross-Border Payments at Money20/20 Europe
XTransfer Partners with BNP Paribas to Simplify Cross-Border Payments at Money20/20 Europe

Zawya

timean hour ago

  • Zawya

XTransfer Partners with BNP Paribas to Simplify Cross-Border Payments at Money20/20 Europe

AMSTERDAM, THE NETHERLANDS - Media OutReach Newswire - 10 June 2025 - XTransfer, the world's leading and China's No.1 B2B cross-border trade payment platform, and BNP Paribas, the European Union's leading bank, have signed a landmark Memorandum of Understanding (MOU) to roll out comprehensive cross-border financial services during Money20/20 Europe in Amsterdam. This collaboration aims to reduce the cost and processing time of cross-border payments for XTransfer's clients, particularly benefiting global traders with significant markets in the Eurozone. The signing ceremony was held at Money20/20 Europe, with senior representatives from both companies in attendance. The MOU was signed by Bill Deng, Founder and CEO of XTransfer, and Bruno Mellado, Global Head of Payments and Receivables at BNP Paribas, marking a significant milestone in their strategic partnership. China and the EU are each other's major trading partners. In terms of bilateral trade, according to China's customs, the total import and export of goods between China and the EU in 2024 was US$785.8 billion, representing a 0.4% year-over-year increase. The EU is China's third-largest export destination and second-largest import source, while China remains the EU's largest import source and third-largest export destination. The partnership between XTransfer and BNP Paribas is set to simplify cross-border payment solutions for European SMEs engaged in international trade. By leveraging BNP Paribas' extensive network across Europe, XTransfer will empower its Chinese clients to collect funds in Euros seamlessly, while assisting European SMEs in making direct payments in Euros to reduce foreign exchange complexities and enhance transactional efficiency. This partnership is expected to expand further, with plans to introduce even more currency options in the near future. Bill Deng, Founder and CEO of XTransfer, said, "It is a great honour to join hands with BNP Paribas. This MOU reflects our mutual ambition to empower SMEs with enhanced cross-border financial solutions. As we continue to grow our European footprint, partnerships like this are instrumental in building robust, compliant, and innovative financial infrastructure for international trade." Bruno Mellado, Global Head of Payments and Receivables at BNP Paribas, added, "By combining BNP Paribas' extensive European network with XTransfer's expertise in B2B cross-border trade payments, we aim to simplify international trade transactions, reduce costs, and enhance the global competitiveness of our clients. This partnership marks a significant step forward in our mission to provide innovative and efficient financial solutions for businesses operating in the global market." The partnership is designed to facilitate seamless trade between SMEs in China and European countries, at the same time streamlining foreign trade transactions between European businesses and their global partners. By simplifying cross-border payments and reducing transactional complexities, this collaboration will lower the costs associated with global trade and significantly enhance the global competitiveness of European SMEs. Hashtag: #XTransfer #BNPParibas #Money2020EU #Crossborder #Payment #SMEs The issuer is solely responsible for the content of this announcement. About XTransfer XTransfer, the world-leading and China's No.1 B2B Cross-Border Trade Payment Platform, is dedicated to providing small and medium-sized enterprises (SMEs) with secure, compliant, fast, convenient and low-cost foreign trade payment and fund collection solutions, significantly reducing the cost of global expansion and enhancing global competitiveness. Founded in 2017, the company is headquartered in Shanghai and has branches in Hong Kong SAR, the United Kingdom, the Netherlands, the United States, Canada, Australia, Singapore, Vietnam, Thailand, Malaysia, the Philippines, the UAE, and Nigeria. XTransfer has obtained local payment licenses in Mainland China, Hong Kong SAR, Singapore, the United Kingdom, the Netherlands, the United States, Canada, and Australia. With more than 600,000 enterprise clients, XTransfer has become the industry No.1 in China. By cooperating with well-known multinational banks and financial institutions, XTransfer has built a unified global multi-currency clearing network and a data-based, automated, internet-based and intelligent anti-money laundering risk control infrastructure centred on SMEs. XTransfer uses technology as a bridge to link large financial institutions and SMEs around the world, allowing SMEs to enjoy the same level of cross-border financial services as large multinational corporations. XTransfer completed its Series D financing in September 2021 and achieved unicorn status. The Company possesses a diverse composition of international investors, including D1 Capital Partners LP, Telstra Ventures, China Merchants Venture, eWTP Capital, Yunqi Capital, Gaorong Capital, 01VC, MindWorks and Lavender Hill Capital Partners. For more information, please visit: BNP Paribas Leader in banking and financial services in Europe, BNP Paribas operates in 64 countries and has nearly 178,000 employees, including more than 144,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group's commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Türkiye, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group's performance and stability. XTransfer

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store