Viant’s exclusive new research explores the spending behavior and lifestyle habits of consumers across three top national department stores: Nordstrom, Macy’s, and Kohl’s.
When it comes to shopping at department stores, it turns out three surprising groups — digital introverts who don’t like stores, dads, and people who prize easy parking — put all the rest of us to shame. While they account for just about 16% of the population, they do 44% of the spending at U.S. department stores each year, according to a new study from Time Inc.’s Viant.
A recent report by Viant, a subsidiary of Time Inc., breaks down in detail who precisely is shopping in department stores now. In the Viant report, they define Heavy Spenders as the top 40% of consumers ranked by amount spent in department stores in the last 90 days. If department stores can focus more on these consumers, they will enhance their sales per customer by gaining more dollars from these high-value customers.
“While cross-device technology enables marketers to link devices across screens, establishing attribution and maintaining a high level of accuracy with extensive reach can be difficult. The missing piece of the puzzle that is the cross-device dilemma is, and always will be, identity management through a people based approach,” writes Viant’s VP, Lara Mehanna.
New research from Viant, a people-based advertising technology company, provides insight into the buying habits and lifestyles of shoppers from three top national department stores: Nordstrom, Macy’s and Kohl’s. The company analyzed nearly three million U.S. residents and compared the data to other attributes, such as household incomes, television viewing behavior, grocery purchases and auto ownership.
“To succeed in ad tech, you must be able to find passion in your work, play to your strengths, sharpen your skills, step outside of your comfort zone, and build a strong network of diverse connections around you,” writes Viant’s VP of Product Marketing, Eden Orndorff.
“As we continue our aggressive transformation to a digital-first company, I am pleased with the strong growth of our digital advertising revenues and digital audiences in the third quarter. The integration of Viant, our proprietary targeting and data platform, into the overall Time Inc. go-to-market approach is bringing new, unique capabilities to our advertising partners, and beginning to yield incremental revenue across the portfolio,” said Time Inc. President and CEO Battista.
At the second day of The Drum’s inaugural Programmatic Punch event in the U.S., panelists discussed the future of TV. Commenting on the ‘death of the 30 second ad slot’, Jeff Collins, Viant’s CRO, observed that speculation over the prospect has been around for 15 years, but noted that “the incentive to maintain that 30 second slot is going to be around for quite some time.”
“It is only with open, people-based marketing built on a foundation of real people that marketers can tell a cohesive brand story across channels, sequence the messaging, attribute the results, and give their consumers the best brand experience,” writes Viant’s VP of Enterprise Strategy, Ryan McGurk, on CMO.com.
“The automakers that are able to embrace new approaches, and see digital as a complement to their TV strategies, will have a leg-up on the competition. Although auto marketers may be in a peak market and are facing new challenges in the sales cycle, the consumer shift toward digital and the people-based approaches available make this cycle more of an opportunity than a struggle,” writes Viant’s CMO, Jon Schulz, in MediaPost.
Google’s latest product announcements have been all about hardware and machine-learning technology, but Alphabet’s core company still has its financial teeth tightly locked onto search engine advertising. Jon Schulz, CMO of Viant, says, “With deterministic data, Google doesn’t need to rely on cookies for targeting, allowing it to pinpoint consumers with a much higher level of accuracy on mobile.”