Niche marketplaces Thrive Market, Faire join the retail media frenzy

Last week, retail marketplaces Thrive Market and Faire joined the growing number of retail media.

Thrive Market, which specializes in organic, healthy groceries, launched its retail media network with Instacart.

• Instacart’s Carrot Ads solution will enable brands to run sponsored product and display ads on Thrive Market’s website and app.
• Self-service tools help brands set up and manage their campaigns, with optimized bidding options to drive specific business goals.

Meanwhile, Faire, an online wholesale marketplace, introduced its first ad solution, sponsored search ads.

• These “Promoted Listings” help smaller brands without resources to spend much on on product promotion.
• “The reason we’re going this path into advertising is to help our brands grow,” Faire’s chief product officer Ami Vora told Retail Brew. “We know that’s hard when you’re a small business.”

Why it matters: The retail media landscape is crowded, making it difficult for smaller networks to stand out among the giants like Amazon and Walmart. But Thrive Market and Faire have niche audiences, which could help them differentiate themselves in the competition for ad dollars.

This was originally featured in the Retail Media Weekly newsletter. For more marketing insights, statistics, and trends, subscribe here.