The Trade Desk research: many UK marketers planning to activate retail data and tap new opportunities by 2025
A significant uptick in advertisers using retail data is approaching, according to new research by The Trade Desk.
The company surveyed 200+ UK marketers and found that 79% are currently using retail data, whilst 87% state their organisation plans to use this data resource in the next two years.
“The appetite for retail data will only continue to accelerate as more advertisers look for ways to close the loop between advertising and sales,” says Phil Duffield, VP, UK, The Trade Desk.
“As we move closer towards the deprecation of third-party cookies, retail data can offer marketers authenticated information about purchase activity to help drive better performance and measurement, which is stark contrast to the walled gardens.”
With 76% of respondents saying they expect to increase or maintain their investment in retail data, most marketers surveyed are prepared to embrace it in the coming years. However, at present, only 13% of digital marketing budgets are reportedly allocated to retail data.
Preparations are already underway for this impending increase in investment, as marketers are set to direct their spend in retail data towards better digital strategies (67%), e-commerce (63%) and shopper marketing (44%).
Those already using retail data are doing so to drive sales (53%) and increase awareness of a brand or product (50%), while the same number report leveraging it to measure across channels to help determine the success of marketing campaigns.
“With more retailers realising the opportunities for growth that data brings, the rapid expansion of retail data is imminent. This is a cause for optimism, as it can bring both new opportunities for retailers and marketers to deliver better targeted and higher quality campaigns that make the open internet even more accessible and beneficial for advertisers,” says Duffield.
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