Today, consumers have more options than ever to buy everything, from TVs and sweaters to groceries and cars. Phones and laptops have become digital malls with endless space, and TVs themselves are now a breeding ground for the latest impulse-buy with the click of a remote.
This has led to a mountain of retail data about the purchases consumers make. Retail data can come from all sides — with social platforms like Instagram, Facebook, and TikTok understanding habits, as well as traditional retailers and 21st-century e-commerce giants like Amazon, which harness the power of customer data.
All of this has built momentum for one of the biggest revolutions in advertising: Retail media, the ever-growing channel that is poised to overtake TV ad revenue by 2028, according to GroupM.
Now, retail data is being married with other channels, like connected TV, to help marketers connect with relevant shoppers throughout the customer journey. But digital channels aren’t the only places where data comes in, as retailers are increasingly combining in-store and online shopping data together as well.
Watch the latest episode of For Context: From big-box stores to big data to learn more about how the evolution of retail and how the industry is rapidly advancing.