Thrive Market Expands Brand Reach via Instacart Partnership

Thrive Market vs Instacart: Key Insights

• Personalized Advertising: Thrive Market is using Instacart’s Carrot Ads platform to deliver targeted brand promotions to its 1.5 million members.

• Self-Service Tools for Brands: Brands can set up and manage campaigns with tools that optimize bidding and track performance metrics like ROAS.

• Increased Brand Visibility: Sponsored product and display ads will be integrated across Thrive Market’s website and app.

What is Thrive Market? That's a fair question, especially for non-American readers. Thrive Market is an online, membership-based specialty grocery store. It is expanding its digital advertising capabilities through a partnership with grocery technology company Instacart. The collaboration will enable Thrive Market to deliver personalized brand promotions to its 1.5 million members using Instacart's Carrot Ads platform.

The platform, which specializes in targeted retail media, allows Thrive Market's brand partners to deliver customized campaigns directly to consumers shopping on the grocer's website.

This move is expected to boost Thrive Market's already growing net sales. The company grew its revenue from $162 million in 2022 to $189 million in 2023, and ECDB projects further growth this year.

Ad Tools for Brands and Performance Metrics

Through Instacart’s Carrot Ads solution, brands will have access to a suite of self-service tools to create, manage, and track their advertising campaigns. These tools include optimized bidding options to achieve specific business objectives such as customer acquisition and increased sales. Brands can also leverage performance metrics, including attributed sales and return on ad spend (ROAS).

"Thrive Market’s personalized experience makes healthy living more accessible," said April Lane, Thrive Market’s chief merchandising officer. "This partnership redefines how our members can find products that fit their family’s needs, reducing the cognitive load and making shopping easier with Instacart’s Carrot Ads solution."

Increased Visibility for Brands

The Carrot Ads network will allow brands to utilize Instacart’s sponsored product and display advertising solutions across Thrive Market's website and mobile app. Sponsored product ads will appear throughout the shopping process, while display ads will be featured as consumers build their shopping baskets.

"Retail media has emerged as one of the ad industry’s fastest-growing channels due to its strong performance for advertisers and personalized experience for consumers," said Chris Rogers, Instacart's chief business officer.