{"id":14578,"date":"2017-12-10T10:38:00","date_gmt":"2017-12-10T10:38:00","guid":{"rendered":"https:\/\/web3unplugged.io\/blog\/?p=14578"},"modified":"2021-08-09T10:39:53","modified_gmt":"2021-08-09T10:39:53","slug":"criteo-and-forbes-insights-unveil-new-study-the-commerce-data-opportunity-how-collaboration-levels-the-retail-playing-field","status":"publish","type":"post","link":"https:\/\/web3unplugged.io\/blog\/criteo-and-forbes-insights-unveil-new-study-the-commerce-data-opportunity-how-collaboration-levels-the-retail-playing-field\/","title":{"rendered":"Criteo and Forbes Insights Unveil New Study, “The Commerce Data Opportunity: How Collaboration Levels the Retail Playing Field”"},"content":{"rendered":"\n

Criteo S.A. (NASDAQ: CRTO), the commerce marketing technology company, today released data from its study in conjunction with Forbes Insights: \u201cThe Commerce Data Opportunity: How Collaboration Levels the Retail Playing Field.\u201d The study, which surveyed more than 500 global marketing executives across several retail sectors, was designed to assess data\u2019s role in ensuring retailers remain competitive in the evolving market. Results reveal that brands and retailers not only realize the potential of data, but also view collaboration and pooled assets as a way to better meet customers\u2019 needs, drive value and compete.<\/p>\n\n\n\n

\u201cDespite the disruptive transformation of the retail industry, we are simultaneously witnessing that brands, large and small, understand the critical importance of data, are working hard to leverage the data they have, and see opportunity in working together to gain an edge,\u201d said Bruce Rogers, Forbes\u2019 Chief Insights Officer. \u201cData is the great equalizer in this time of division and global executives agree that a shared approach is the key for gaining an upper hand in the battle for consumers\u2019 share of time, attention and wallet.\u201d<\/p>\n\n\n\n

Key insights from the study include:<\/strong> \u00b7         Retail Industry Disruption is Reshaping Commerce<\/strong>: Brands demonstrate concern that physical-digital giants will limit access to their products, whereas retailers worry this trend will cause consumers to turn away from smaller retailers.<\/p>\n\n\n\n

\u00b7         Brands and Retailers Realize Data\u2019s Potential, but Lack Activation Capabilities<\/strong>: Nearly four out of five brands and retailers include customer data as a key part of their business strategy. But while retailers have access to more data than brands, especially online, they are less confident than brands in their ability to activate data into actionable insights. Bottom line: more data alone doesn\u2019t necessarily translate into a greater ability to take action.<\/p>\n\n\n\n

\u00b7         Pooled Data Assets are a Powerful Way to Get Ahead<\/strong>: Brands and retailers see value in collaboration and pooling data assets to meet customer needs and drive value for their business. In fact, 71% of retailers are willing to contribute online search data to a pool. And, three-fifths of those surveyed are already part of a data cooperative, with almost seven out of 10 of those companies already happy with their collaborations as well as the data they receive. Additionally, 72% of marketers cite \u201cincreased revenue\u201d as a key benefit they experience from pooled data.<\/p>\n\n\n\n