In-store radio was found to be the most successful channel registering 30 to 40% higher uplift per £1 media value than the other measured channels.
The study, conducted by Data2Decisions, analysed the additional sales generated over a two-year period in food stores operated by the company.
It concluded that retail media communications attributed incremental sales of £13.4m.
Of the £13.4m incremental sales, radio accounted for £5.3m followed by shelf talkers which generated £4m compared with all the other channels, such as shelf wobblers, in-store sampling, till screen adverts, direct mail and leaflets accounting for £4.1m.
Susan Beetlestone head of commercial marketing at The Co-operative says the results “confirm what we have long suspected”.
“Retail media is an emerging route to market versus the more traditional channels, such as TV and press campaigns. Our media centre offers brands a unique opportunity to reach millions of regular shoppers and members, and this analysis shows that our in-store channels can deliver powerful results for advertisers.”