JB Hi-Fi (ASX:JBH) has partnered with Retail MediaWorks to launch Australia's first consumer electronics retail media network, according to a Thursday report by the Australian Financial Review.
The report said that the consumer electronics giant runs more than 200 JB Hi-Fi stores in Australia, and Retail MediaWorks has built and scaled five major retail media networks, including Coles 360 and Bunnings' Hammer Media.
Retail media networks are run by retailers, who sell advertising to brands across their websites, apps, and stores, using customer data for highly targeted marketing.
The company's shares rose 1% in recent Thursday trade.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)