And "we can give the brands very thoughtful opportunities to connect with native advertising opportunities - that are contextually relevant for the consumer - to promote their brand or product right at the point-of-sale." "We are bringing the best of what consumers love about shopping online into the brick-and-mortar world," Avakian said.
#Walgreens cooler screens windows#
So instead of glass windows in the freezer aisle that show the products sitting on the shelf, the tech from can show what is available behind the door, as well as advertising, recipes, nutritional facts, and other information related to those items.Īnd using so-called "Internet of Things" - referring to the technology that relies on sensors to connect devices to the cloud - coupled with artificial intelligence, the system can also quickly identify when products are out-of-stock. 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.
#Walgreens cooler screens series#
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.
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