Global Digital Retail Marketing Market 2017-2021
About Digital Retail Marketing
Digital retail marketing is one of the most active and the fastest-growing marketing technique in the retail advertising segment. This growth is primarily attributed to the growing digitalization worldwide. On average, an estimated 650,000 search queries are raised on Google every minute; 700 videos are hosted on YouTube; over 700,000 status updates and 500,000 comments are posted on Facebook; and 65,000 tweets are made worldwide. Furthermore, 180 million e-mails are sent each minute, emphasizing the significance of digital media as a marketing tool.
Technavio’s analysts forecast the global digital retail marketing market to grow at a CAGR of 18.29% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global digital retail marketing market for 2017-2021. To calculate the market size, the report considers the revenue generated from the following types of digital retail marketing: search ads, display ads, social media, e-mail marketing, and others.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Digital Retail Marketing Market 2017-2021
Technavio recognizes the following companies as the key players in the global digital retail marketing market: Edelman, Interpublic Group of Companies, Omnicom Media Group, Publicis Groupe, and WPP.
Other Prominent Vendors in the market are: Havas, Pinterest, Tumblr, and WE.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is advanced targeting options. As digital retail media gathers a large amount of user information, they are able to target audiences by various methods. Digital media advertising enables targeting based on interests, browsing behavior, and connections across demographic and geographic barriers.”
According to the report, one driver in the market is growing mobile device penetration. Digital media advertising on mobile devices has been offering better ROI than traditional advertising channels. The digital advertising sector is anticipated to grow during the forecast period, owing to the rising number of digital users worldwide. In 2016, the number of smartphones shipped around the world was nearly 1.5 billion units when compared with 1.43 million units in 2015 and 1.3 million units in 2014. This number is likely to double during the forecast period, while the number of tablet users globally is likely to reach 1.4 billion in 2017.
Further, the report states that one challenge in the market is requirement for skilled workforce. The global digital retail marketing market is upgrading rapidly, and one of the major challenges faced by companies is the need for a skilled and talented workforce that adapts quickly to the latest advances in technology. Companies need to hire employees who can cope with the rapidly transforming market. This cannot be achieved only through a good recruitment team; it also requires a complementary employee development team as well as effective processes and procedures. Besides considering the soft skills and the expertise of the employees, recruiters must also consider the customer and data management skills of the employees.
Edelman, Interpublic Group of Companies, Omnicom Media Group, Publicis Groupe, WPP, Havas, Pinterest, Tumblr, and WE.