Instacart unveils $1M program to support women-owned food companies

Dive Brief:

Instacart is devoting up to $1 million to a program intended to help women-owned CPG brands promote their products through the e-commerce company's Instacart Ads program, according to a Thursday press release.
Starting in April, eligible CPGs will receive free credits they can redeem throughout 2022 to help their offerings stand out on Instacart's online marketplace.
The program expands the Instacart Ads Initiative, which the company rolled out last June as a vehicle to assist Black-owned CPGs in reaching digital shoppers.

Dive Insight:

Beyond giving women- and Black-owned CPGs currency to build brand awareness on the Instacart platform, the Instart Ads Initiative is designed to help participating companies lay the groundwork for their online promotional efforts

The initiative offers emerging brands onboarding support and provides them with assistance in optimizing advertising campaigns through Instacart Ads, which provides self-service and managed advertising services to more than 5,000 CPG brands, according to the announcement, timed to mark Women's History Month.

Instacart is partnering with women-led CPG brands Sweet Loren’s, which sells plant-based cookies; grain-free cereal purveyor Three Wishes Cereal; and beverage company Twrl Milk Tea as it expands the Instart Advertising Initiative to women-owned businesses.

"Our goal is to continue to identify and amplify more women entrepreneurs and brands with Instacart Ads to help them drive discovery and business growth," Ali Miller, head of ads product at Instacart, said in a statement.

Instacart noted that about 80% of its customers and 70% of its gig shoppers are female, which it said sets it apart from rivals.

The company also said it had extended the program it began last year to support Black-owned businesses into 2022.

Instacart is ramping up its efforts to connect with women-owned companies amid a broad effort by grocery companies to boost supplier diversity. Last month, The Fresh Market said it would highlight more than 100 products from women-owned suppliers in March to celebrate Women History Month. Also in February, retailers including Albertsons, Aldi, Target and Kroger unveiled plans to connect with food and beverage companies described as "diversity qualified or minority owned."

In January, Meijer announced that it would run a virtual event in late March to expand the types of businesses it works with as it looks to expand the diversity of its supplier base.