04 October 2024

The Future of Retail Media: New Strategies in Data-Driven Digital Marketing

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The Trade Desk’s 2024 UK Retail Media Report unveils key insights and strategies shaping the future of digital advertising through retail data. Let’s dive into the report's highlights!

? The Rise of Consumer Data: As of 2023, 76% of digital advertisers in the UK plan to invest in retail data. These investments enable brands to understand customer behavior and optimize campaigns. Among them, 43% intend to increase their spending, while 33% aim to maintain their current investment levels.

? A Growing Market: According to The Trade Desk Intelligence, retail media is emerging as one of the fastest-growing sectors in advertising. With a 10% increase since 2022, retail media is now the fourth fastest-growing advertising channel.

? Omnichannel Strategies: With consumer attention spread across various channels, brands must adopt omnichannel marketing strategies. Global Web Index Core data shows that nearly 90% of UK consumers who visited shopping websites in the last 30 days are reachable by retailers. Both local and global brands can leverage this data to connect with broader audiences.

? Cost and Efficiency: Cost remains the biggest challenge in retail data utilization, with 61% of UK advertisers citing it as a major hurdle. However, centralized platforms with closed-loop measurement offer potential solutions to reduce costs.

? Advanced Tactics: Half of the advertisers plan to use retail data to measure high-level marketing tactics, enabling brands to make more strategic, data-driven decisions.

? Future Expectations: Consumers demand seamless online and offline shopping experiences. Brands must meet these expectations with personalized ads and digital innovations, such as virtual reality (VR). Retail data plays a pivotal role in crafting these next-generation experiences.

 

Source

The Trade Desk 2024 UK Retail Media Report

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