![]() The displays act somewhat like a real-world webpage. It also allows the retailers to inject more advertising opportunities into their stores to bolster revenues. That will give the company immense data to help plan future inventory and marketing promotions, he added. "Walgreens single-handedly will have nearly 70-to-80 million consumers interacting with Cooler Screens on a monthly basis," Avakian told Business Insider. And with the Walgreens deal, for example, Avakian says brands will regularly be able to reach a Super Bowl-size audience on the startup's displays. Investors this round included Verizon Ventures, M12, Great Point Ventures, and Silicon Valley Bank.Ĭooler Screens is working with retailers including Kroger and GetGo. It just raised over $80 million in Series C funding, according to an announcement on Monday, hiking its valuation to above $500 million. Cooler Screens, the startup providing the technology, is currently in 60 stores and is closing a number of successful pilot projects with other customers, according to CEO Arsen Avakian. And that's creating new opportunities for companies like Walgreens to invest in digital capabilities to better serve customers - and ultimately boost sales.įor example, the drug store is set to roll-out new, internet-enabled digital advertising screens in the freezer section of 2,500 stores in 2021. Now several months into the pandemic, the demand remains robust. Sign up here to receive updates on all things Innovation Inc.Īt the start of the coronavirus pandemic, consumers rushed out to retailers to stock-up on the essential items.On Monday, Cooler Screens announced that it raised over $80 million in Series C funding from investors like Verizon Ventures and M12."We are bringing the best of what consumers love about shopping online into the brick-and-mortar world," Avakian told Business Insider.Companies that use the devices can also get more information on sales to inform inventory levels and future marketing campaigns.The IoT-enabled devices give brands the opportunity to advertise at the point of sale and reach roughly a Super-Bowl sized audience each month, according to CEO Arsen Avakian.Walgreens is set to roll-out video-enabled displays from Cooler Screens in 2,500 stores in 2021.What do you think? You can contact me at with your thoughts and opinions.Account icon An icon in the shape of a person's head and shoulders. Maybe we are old fashioned, but this experience seems overly immersive to us. ![]() The Cooler Screens provide easy access to a lot of shoppers and the screens are (very) hard to ignore.Ĭooler Screens says that their screens provide “an exciting new digital shopping experience in the freezer and refrigerator aisles of local grocery, drug, and convenience stores”. ![]() ![]() Walmart, as an example, operates on high sales volume and low margins and the high margins generated from digital advertising is enticing. Insider’s Take: The large retailers like in-store advertising. Cooler Screens’ technology partners include global category leaders Microsoft, Verizon, Dover, BOE and Foxconn. Over 180 of the top consumer product brands have joined the Cooler Screens’ brand network including Anheuser-Busch InBev, Nestle, PepsiCo, Tyson, Unilever and Red Bull. Retail partners include Walmart, Walgreens, Kroger, CVS, Get Go and Chevron. Cooler Screens is hoping to “transform retail surfaces into digital IoT smart screens that deliver in-store retail media and merchandising for the ultimate consumer experience at the intersection of commerce, context and content”.Ĭooler Screens has grown rapidly reaching over 90 million in consumer traffic per month across 10,000 screens over 700 stores in 31 DMAs. Cooler Screens is a Chicago based company that has raised over $100 million from the likes of Verizon Ventures, Microsoft’s M12 venture fund, GreatPoint Ventures, Silicon Valley Bank and others. Last month we published an article on the growth of advertising revenue for both Amazon and Walmart.Īs retailers look at creative ways to generate digital advertising in their stores, Cooler Screens has signed a contract with Walmart to install more than 2,500 branches with display cooling doors. Insider noticed articles from both invidis and Sixteen Nine looking at the expansion of in-store digital advertising by large retailers.
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