Skip to Main Content
Four Ways Retailers Can Monetize Their Data

Four Ways Retailers Can Monetize their Data

Recent disruptions to the digital media landscape leave challenges and opportunities for retailers, emphasizing the acceleration of data capabilities to future-proof their businesses for a cookieless world.

Although digital ad spending is projected to top $586 billion globally by 2023, ongoing deprecation of third-party cookies and evolving global data privacy regulations will make it increasingly difficult for companies to collect actionable customer data from platforms like Google, Apple and Facebook. In response, brands are strengthening their first-party data collection, establishing direct, consent-based relationships with customers.

A first-party data strategy decreases reliance on third-party data. But a wealth of owned data also positions retailers to create their own media platforms, partnering directly with suppliers or other brands to deliver highly personalized communications and engagements across owned channels. These relationships are inherently symbiotic, with partners and retailers exchanging direct insights on targeted audiences (ultimately strengthening their first-party data over time) and retailers benefiting from new revenue through data monetization.