Silicon Valley delivery startup Instacart is launching a $1 million advertising campaign to turn the promotional spotlight on Black-owned consumer packaged goods (CPG) brands, the company announced in a press release.
Instacart Chief Revenue Officer Seth Dallaire said that as the company continues to expand, Instacart Ads is likely in a position to “further amplify Black-owned and Black-led brand partners” online while offering the necessary solutions to “excel in online grocery.”
Instacart Ads extends self-service and managed advertising services to more than 2,500 CPG brands, with a greater opportunity to be seen among millions of goods available through 600-plus U.S. retailers, according to the release. Instacart’s delivery service is available to more than 85 percent of U.S. households and 70 percent of Canadian households.
“We’re always looking for partners that align with our mission to inspire families of all backgrounds to eat better food and live longer, more vibrant lives,” A Dozen Cousins Founder and CEO Ibraheem Basir said in the release. “It’s important for us to connect and engage with customers in various ways — especially in the digital grocery aisles. We’re proud to partner on this new advertising initiative and see Instacart investing in a community of brands transforming the grocery industry.”
This latest initiative builds on Instacart’s ongoing commitment to prioritizing diversity, equity and belonging, the release stated.
According to PYMTS data released last month, 17 percent of all consumers said they are using digital platforms like Instacart for groceries. Further, 16 percent said they are ordering restaurant meals from digital platforms rather than going in person to restaurants.
The nonprofit small business lender Opportunity Fund was expecting to extend $10 million in loans every month serving a minimum of 3,000 small businesses at the start of last year — but that was before the pandemic took hold. Now, CEO Luz Urrutia told PYMNTS it’s going to take team efforts among small businesses, FinTechs, public entities and nonprofits to help small businesses.