More UK digital advertisers are unlocking the value of retail data to drive sales, with the latest figures revealing over 8 in 10 marketers say they plan to activate by 2025.
The data comes from new survey-based research by global advertising technology company The Trade Desk, aimed at examining the use of retail data in the UK.
The research found more than three-quarters (79%) of marketers are currently using this type of data, whilst 87% state their organisation plans to use this data resource in the next two years.
With over three-quarters (76 %) of respondents saying they expect to increase or maintain their investment in data, most marketers surveyed say they are prepared to embrace it in the coming years.
However, currently, only 13% of digital marketing budgets are reportedly allocated to retail data, indicating that there’s much more potential to benefit from this type of authentic data.
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In addition, the data showed marketers are getting ready for this increase in investment by focusing on improving digital strategies (67%), ecommerce (63%) and shopper marketing (44%).
Marketers who are already using retail data are using it to boost sales (53%), increase brand or product awareness (50%), and measure the success of marketing campaigns across different channels.
The figures illustrate that advertisers are seeing the potential of this data as a way to help unlock how their campaigns are driving sales, meaning that data can help them optimise in ways that ‘aren’t possible within the walled gardens’.
“The appetite for retail data will only continue to accelerate as more advertisers look for ways to close the loop between advertising and sales,” said The Trade Desk, UK vice president, Phil Duffield.
“As we move closer towards the deprecation of third-party cookies, this data can offer marketers authenticated information about purchase activity to help drive better performance and measurement, which is stark contrast to the walled gardens.”
“The rapid expansion of retail data is imminent,” added Duffield.
“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.”
