Friday Five: May 10th
What’s new in the world of consumer marketing? Personalized engagement is shaping the future of retail, Amazon is working to expand the shopping experience in Israel, and brands are noticing the importance of marketing their product.
Here are our top five curated insights for this week. Enjoy!
1. Target, Walmart Envision Radically Different Futures For Their Growing Media Businesses
“Both retail rivals Walmart and Target are ramping up their media strategies to try and help brands engage with consumers who are cutting the cord and increasingly favoring connected channels, with a trove of first-party data as a central part of the retailers’ pitch to attracting ad dollars.”
2. For The First Time, Amazon’s Own Online Sales Make Up Less Than Half Of Its Entire Business
“In recent years, the company has expanded beyond that heritage to become a major player in a wider variety of industries. Amazon today sits at the top of the competitive and lucrative cloud computing market through its Amazon Web Services business. It’s an emerging force in brick-and-mortar retail with Whole Foods and its own Amazon stores. It’s also an entertainment heavyweight, a trend-setter in shipping and a potential giant of the advertising world.”
3. Digital Is The Future — Face It, Retailers
“Digital commerce produces a lot of data that can be useful to marketers. The challenge is to use the information wisely and, with international privacy laws, judiciously. By knowing your customer in each country, retailers can cater to each customer and give them a much more personalized experience. That personalized engagement is what will shape the future of retail.”
4. Why Marketing Your Product Is More Important Than The Product Itself
“With roughly $4.8 trillion in retail e-commerce sales projected globally by 2021, it would appear that there is ample opportunity for e-commerce businesses to excel. However, nearly 8 out of 10 online stores fail within the first 24 months, often due to problems concerning subpar branding and an excessive emphasis on the product itself rather than marketing the product.”
5. Amazon Opens Its Platform To Local Retail Market In Israel
“This new service is a positive addition to the current Amazon shopping experience for Israeli customers, providing them with quicker and cheaper delivery, while also offering a great opportunity for local, Israeli businesses to grow their businesses on Amazon,” said a source close to Amazon on Wednesday.”
That’s a wrap! What’s your big insight from this week? Let us know on Instagram or Twitter @BDSmktg. Have a phenomenal weekend! ✌