Interest in retail data is increasing around the globe, and estimates show that retail media is set to outpace the growth rates of nearly all other forms of ad spending worldwide.* If retail data is a boon to advertiser media plans, what’s stopping some of the savviest marketers from leaning in?
Retail media is a catchall phrase for the different ways you can reach and connect with audiences via retailer solutions. Retail data stems from retailers’ loyalty programs and consumers’ purchases, which of course are incredibly valuable for brands that sell with those retailers (endemic brands). But there’s more value to go around, as non-endemic brands can leverage a retailer’s data off-site to find audiences on the open internet.
Marketers across categories are seeing impressive results when they add retail data to the mix — but some have been slower to adopt. Perhaps it’s because retail data doesn’t feel relevant (especially if they don’t sell products at the retailer). Or maybe they’ve already onboarded first-party data, or they have a preferred third-party data strategy in the works. Other considerations may be around cost or strategy alignment.
Do any of these reasons sound familiar to you?
While your data strategy may already be on solid ground, retail data can add signals to help you drive even more efficient reach for your campaigns. See below how retail data drove more reach and results for campaigns activated on The Trade Desk.
As you can see, retail data can be a valuable tool to help you achieve a variety of marketing objectives, from efficient unique reach to lower-funnel outcomes.
Have we convinced you to add retail data to your campaign targeting strategies? If so, reach out to your account team at The Trade Desk to identify the right retail audience segments for your campaign. You can also start by requesting access to the retailers that are most relevant to your brand in the Shopper Marketing [Sh] tile in Kokai.
Article sources:
* Insider Intelligence, Emarketer forecast, December 2023.