Digital ad spending in the US retail industry is expected to grow by an incredible 25.7% in 2021, according to eMarketer. Of the many advertising growth drivers for the year ahead, expansion into new eCommerce platforms and a wider array of advertising options amongst retailers stand out as key factors influencing where marketers will choose to invest their time and resources.
As the enterprise platform for marketplace advertising, Pacvue is continuously evolving with the industry to provide a holistic solution for advertising, marketing automation, and retail intelligence to help brands win across eCommerce platforms. To stay ahead of the competition, your advertising software has to stay ahead of the pack as well, which is why Pacvue is one the leading enterprise platforms for brands, sellers, and agencies to manage eCommerce advertising solutions across various retailers and marketplaces.
Expanding Marketplaces to Target
Pacvue is excited to begin supporting sponsored product ads on Target.com and the Target app via the Criteo Retail Media Platform. Pacvue is one of the first advertising technology platforms to allow users to manage their Target campaigns through programmatic bidding, analytics, and automation.
Target’s online sales grew 155% in the third quarter of 2020, and consumers are spending more too. Average basket size, across in-store and online, grew 15.6%.
Pacvue and Criteo Partnership
Pacvue’s advertising expansion to Target.com and the Target app is the result of an exciting new partnership with Criteo, which will also enable Pacvue to support additional retailers in 2021.
The Criteo Retail Media Platform enables brands to deliver ads across a wide ecosystem of online retail channels and reach consumers at all stages of their journey with a variety of ad formats and targeting options. By integrating with the Criteo Retail Media API, Pacvue allows marketers to expand their advertising to new channels, while continuing to manage their campaigns with the holistic performance data, flexible reporting, and smart optimizations that they have come to rely on from Pacvue.
Opportunities in 2021
After a year like 2020, marketers know they can’t take their annual planning at face-value anymore. Budget fluidity, or the ability to move budget flexibly based on just-in-time information, will be key to respond to shifts in consumer demand, mitigate out-of-stock crises, and take advantage of advertising channels like Target.com and the Target app.
What’s more, there’s a significant first mover advantage. Channel adopters who get it right early on with growing channels, like Target.com and the Target app, tend to benefit from lower competition and cheaper CPCs, build repeat customers with initial conversions, and gain a competitive edge through testing and learning. To manage the complexity and breadth of insights across platforms, technology like Pacvue can help.
Request a demo to speak to our team about managing your advertising campaigns across Amazon, Walmart, Instacart, Target, and other marketplaces, and learn how to lower costs, grow share of voice, and increase sales.