Twitter
Facebook
Linked In
RSS
Login or Register
New to InternetRetailing?
Register Now
Internet Retailing
You are in: > Home > Themes > Marketing

This is your 1 complimentary article for this month

Become a member for unlimited and immediate access.


Register
Already a member? Log in here

UK retailers missing out on £1.7bn in unrealised sales by not leveraging media marketing, study suggests

Linked InTwitterFacebookeCard
Media advertising – whether old or new – is vital to increasing retail revenues
Media advertising – whether old or new – is vital to increasing retail revenues
Sharelines

UK retailers missing £1.7bn in revenues through not properly leveraging media, study shows

Many retailers are losing out to as much as 1% of total revenue because they aren’t making best use of media marketing – equivalent to lost earnings of as much as £1.7 billion across the UK retail sector and around £100million for each of the three largest UK grocers.

 

New research conducted by dunnhumby media, part of dunnhumby, the global leader in Customer Data Science, and calculated using dunnhumby media’s Revenue Calculator – a tool that enables retailers to estimate their media revenue potential – retailers have the opportunity to generate an additional 1% of their retail sales with media, which is equivalent to £11billion across EMEA.

 

Furthermore, retailers can benefit from a virtuous circle consisting of rich data assets telling them where, when, what and how customers shop, the ability to close the loop between media channels and in-store sales, and a more tailored approach to communication with new and repeat customers.

 

The exact monetisation potential by business depends upon a number of factors, such as a retailer’s data and technology maturity, the span of their media coverage across different domains and their multichannel presence, percentage of sales from own label and their willingness to give brands creative freedom in the advertising space.

 

However, this opportunity to make new revenue from their data and media assets exists for all retailers.

How the top 5 UK retailers are losing out
How the top 5 UK retailers are losing out

“As it stands, only a handful of retailers are taking on the role of publisher. And for them, it’s a smart move, as the media opportunity is a big one,” explains Jérôme Cochet, Global Managing Director at dunnhumby media. “Just think of the data and insights generated by browsing and shopping behaviour when compared to the actual products bought, across all the media touch-points retailers own, in-store and online.”

 

Cochet continues: “Over time, more retailers will look to adopt this approach to remain competitive. Continued pressure on profits means retailers are feeling greater urgency about identifying new revenue streams, such as monetising their media assets. That said, retailers must take the right approach to doing this, otherwise they risk losing customers.Done correctly, it’s an opportunity to connect with consumers where and when it matters most – which ultimately is what every brand wants to do.”

Linked InTwitterFacebookeCard
Add New Comment
You must be logged in to comment.

The InternetRetailing Newsletter

A curated update containing news analysis, reports, podcasts and opinion - completely free and delivered three times weekly

Become a Member

Create your own public-facing profile
Gain access to all Top500 research
Personalise your experience on IR.net
Internet Retailing
We are the magazine, portal and research source for European ecommerce and multichannel retail, hosting the board-level conversation for retailers, pureplays and brands across all of our platforms. Join the conversation.

© InternetRetailing Media

Latest Tweet

Internet Retailing
Tamebay
eDelivery
Twitter
Facebook
Linked In
Youtube
RSS
RSS
Youtube
Google
Linked In
Facebook
Twitter