The world of retail has hit unchartered waters. With mass storefront vacancies around the nation and changing consumer appetite, marketers have been tasked with an uphill battle. However, retailers are a savvy bunch. They work proactively and are constantly reinventing how to reach customers. Read on to learn more about what retailers are doing to stay relevant and how they’re winning on eBay.
Retail is Growing
Despite the widely circulated narrative that retail is dying, retail is in fact growing. According to the National Retail Federation (NRF), “There are over 1 million retail establishments across the United States, and retail sales have grown almost 4 percent annually since 2010.” 1 Additionally, the retail industry is supplying consumers with jobs. NRF reports that “over the last decade, retail sales and jobs have continued to grow despite challenging economic conditions.” 2 They go on to forecast that retail sales this year will increase between 3.8 percent and 4.4 percent to more than $3.8 trillion. 3 And eMarketer predicts that global eCommerce will rise by 20.7% in 2019 to $3.535 trillion. 4
The average consumer welcomes more automation in their retail experience. According to eMartketer, “In industries like healthcare and financial services, many prefer to consult with humans through traditional mediums. But in retail, more are willing to use emerging technologies—including chatbots and artificial intelligence (AI).” 5
While privacy regulations can limit these innovative tactics, consumers will trade privacy for personalization within reason. A recent Forrester report concluded that 57 percent of consumers are actually fine with retailers saving purchase history and personal preferences if more personalization is offered 6 This calls for marketers to choose their media partners wisely and open up their data sets. If their first-party data is limited, they must rely on media partners who can lend them a hand and a few data points.
The Data Challenge and Winning on eBay
eCommerce sites are able to predict how and what consumers are shopping for. However, many eCommerce sites are also competing with advertisers. eBay is not in the business of selling its own line of products and therefore can provide a true advertising solution to retailers.
As featured in, Winning on eBay: A Marketer’s Guide, in 2018, a top clothing and accessories brand partnered with eBay to maximize sales of men’s shoes and wallets during the Dads and Grads season. The brand ran an ad campaign with eBay, leveraging promotional traffic drivers that led shoppers to their custom brand experience. eBay’s Client Insights and Analytics team leveraged data science to build a wildly successful campaign. You can see detailed results by downloading Winning on eBay: A Marketer’s Guide.