In an era where understanding a shopper’s intent is paramount to increasing sales, advertisers harnessing the power of data are rising to the top. Ad models are shifting and industry experts are taking notice. In their latest report, “Retail Media Networks 2019: How Retailers are Building Digital Ad Businesses,” eMarketer looks at how retailers are looking beyond the margins of consumer purchases and developing advertising revenue streams.
Good Data Rises to the Top
As major media succumbs to government pressures around fake news and privacy, retail sites are well-positioned to better serve brands. While some experts argue that retailers lack the infrastructure to create thriving ad networks, in actuality the volume of first-party purchase data on eCommerce platforms can give advertisers an edge. When asked what were the most important factors to marketing performance success, 87% of marketers surveyed said, “high-quality data.”
“For the longest time, advertisers were unable to connect their advertising directly to shopping behavior. Over time, with the invention of digital and search, advertisers have gotten closer and closer to actual transactions and understanding the way consumers really shop.” – Scott Kelliher, Head of brand advertising and partnerships at eBay Advertising
Understanding a consumer’s expression of intent is key for brands. It’s where influence can begin. Because 80% of users are logged in, eBay is able to provide brands with a look into rich, cross-device shopper journey insights and a deeper level of “people-based” engagement.
“The major players are going to be the ones who have traffic and, in the various media that they own, full view of the customer,” said Chris Lundquist, SVP and Global Head of Marketing Science at advertising agency BBDO. As one of the top three US retail sites, 1 eBay has the scale marketers need to drive success across the funnel.
With over 109M active U.S. buyers eBay does not depend on probabilistic or inferred data to help marketers find and engage their perfect audience. This translates to millions of monthly shopping data collected. The jury may still be out on how much of the market share eCommerce platforms like eBay will take away from Google and Facebook, but one thing is for sure, change is a-coming.
Click here to download “Retail Media Networks 2019: How Retailers are Building Digital Ad Businesses.” And if you’re interested in learning more about eBay’s first-party real intent data, talk to us here.