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Omnicom (OMC) Announces Strategic Partnership With Instacart
Omnicom Group Inc.’s (OMC - Free Report) media services division, Omnicom Media Group, yesterday announced that it has collaborated with Instacart for providing new measurement capabilities to Omnicom clients.
Omnicom and Instacart have been partners, and this expansion of their relationship is aimed at adding Instacart to an Omni clean room for generating unique insights and measurement capabilities for Omnicom clients' media investments. The collaboration will help brands to understand which products suit their audiences through basket analysis and assessment of content consumption trends.
Omnicom has similar partnerships with NBC and Disney, and has announced one with Walmart (WMT - Free Report) very recently.
Omnicom Media Group’s chief activation officer, Megan Pagliuca, said, "By collaborating on measurement and insights, Omnicom and Instacart can help brands transform top-of-funnel, brand-building marketing channels to outcomes-based media."
Omnicom eCommerce CEO, Frank Kochenash, stated, “With each collaboration, we are adding another layer of unique capabilities to a connected commerce offering that encompasses the totality of client investment across all media channels, screens and environments."
Omnicom’s shares have lost 13.3% year to date compared with 30.6% decline of the industry it belongs to and 21.3% fall of the Zacks S&P 500 composite.
Omnicom Group Inc. Price
Omnicom Group Inc. price | Omnicom Group Inc. Quote
Zacks Rank and Stocks to Consider
Omnicom currently carries a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Investors interested in the broader Zacks Business Services sector can also consider stocks like Avis Budget Group, Inc. (CAR - Free Report) and Cross Country Healthcare (CCRN - Free Report) .
Avis Budget sports a Zacks Rank #1 at present. CAR has a long-term earnings growth expectation of 19.4%.
Avis Budget delivered a trailing four-quarter earnings surprise of 102%, on average.
Cross Country Healthcare sports a Zacks Rank of 1 at present. CCRN has a long-term earnings growth expectation of 6.9%.
Cross Country Healthcare delivered a trailing four-quarter earnings surprise of 29.2%, on average.