“The beauty of a clean room is that it's a privacy-centric way for CVS to share data from its 74 million Extra Care members and for us to share the data from our 498 million users, and end up with a repository of powerful, completely anonymized first-party data,” said Carrie Sweeney, VP of retail at Pinterest. “Then we can connect our users with targeted ads without sharing any of their personal data, just as CVS can on its website.”
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The majority (83.7%) of US retail sales take place in physical stores, per our forecast. The retailers that can infuse digitally forward strategies into their in-store experiences are more likely to win over consumer dollars. Here are five charts on why the in-store experience is so key to retailers’ success and how they can use technology to create a more seamless, engaging shopping experience.
Uber, Lyft, and Instacart fine-tune their ad strategies: The platforms are leaning into personalization and experimenting with formats as they try to boost revenues without alienating users.
Retailers need to take note—not having a customer’s preferred payment method can increase cart abandonment
On today's podcast episode, we discuss what the hell happened—and is happening—to online ads, whether the video streaming boom is officially over, the next big wearable category, what happens when the First Amendment collides with social media, what the world would look like if there were only 100 people, and more. Tune in to the discussion with our forecasting writer Ethan Cramer-Flood and analysts Ross Benes and Blake Droesch.
Following performance measurement is the most important factor in allocating budget to retail media, according to 56% of US consumer packaged goods (CPG) manufacturers, per a December 2023 survey from Skai and Path to Purchase Institute.
Last year, Kroger found success embracing omnichannel shoppers and personalizing digital promotions, which helped it grow its identical sales (without fuel) 0.9% YoY. Looking ahead, the retailer is counting on its digitally engaged customers to fuel its retail media network, which Kroger expects to grow 20% next year.
Consumers care about sustainability, but often aren’t willing to buy environmentally friendly products if they’re deemed lower quality, especially if it costs more. One solution for retailers and consumers is resale, an industry worth $108.64 billion in 2024, per our December 2023 forecast. Not all environmental initiatives have to be at the consumer level, though.
Consumers appreciate AI-driven innovation but are wary
Brands put a lot of thought into how to get consumers to discover and buy their products, but not as much into what happens after a purchase is made. However, data suggests that the post-purchase experience, which includes everything from shipping to customer feedback surveys, may have more of an impact than retailers think.
Off-price’s momentum continues as shoppers’ trade-down behaviors intensify: Nordstrom Rack, Burlington, and Ross are among the beneficiaries of consumers’ cost-of-living pressures.
Facebook was the No. 1 social media channel where US internet users interact with brands in 2023 at 61.5%, according to February 2024 data from Attest.
On today's podcast episode, in our "Retail Me This, Retail Me That" segment, we discuss how the resale market is evolving, why some retailers work with a third party instead of developing their own charitable programs, and the role of digital marketplaces in resale. Join our analyst Sara Lebow as she hosts vice president of content Suzy Davidkhanian and Nancy Youssef, chief global business development officer of Soles4Souls.
Turnaround plans aren’t easy: While Abercrombie turned its fortunes around by delivering styles that resonate with Gen Zers and millennials, Foot Locker’s growth strategy remains a work in progress.
Nearly a third (32%) of US consumers plan to celebrate St. Patrick’s Day this year, per Numerator. Of those, 91% say they expect to buy something for their St. Patrick’s celebration, with food and alcohol being the top items purchased.
Can Rufus transform how shoppers navigate Amazon? The genAI-powered tool creates a more engaging experience that could drive consumers to the retail giant for advice and inspiration.
Target announced it will launch a paid membership program April 7, following Amazon and Walmart’s lead.The move comes asTarget struggles to keep up with competitors.
77% of US advertisers incorporate on-site ads as part of their retail media strategy, according to a February 2024 report by Skai and Path to Purchase Institute.
Since bringing its retail media capabilities in-house, grocery giant Kroger continues to develop its self-service strategy for advertisers, Cara Pratt, SVP, Kroger Precision Marketing at 84.51°, recently told EMARKETER.
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