BETHESDA, Md., Dec. 17, 2019 (GLOBE NEWSWIRE) — PreciseTarget, the first data company to profile the retail buying taste of 220 million U.S. adults, announced today that its data products are now available on The Trade Desk for retailers seeking greater marketing efficiency and conversions during the 2019 holiday season.
PreciseTarget’s Taste Audiences provide profiles of every US adult according to their personal retail and apparel taste – the combination of attributes such as fit, fabric, color, style, and price that determines purchase behavior and preference. Using machine learning to analyze daily data feeds from hundreds of retail partners, PreciseTarget’s Taste Audiences allow retailers to expand their acquisition audience, reduce acquisition costs, and increase customer lifetime value (LTV) by advertising products that actually fit shoppers’ individual preferences.
“The 2019 holiday season will be a pivotal one for retailers, who are feeling pressure on all sides from increased catalogue velocity, competition from e-commerce giants and shifting consumer behavior,” said Rob McGovern, CEO of PreciseTarget. “We’re proud to make PreciseTarget’s taste-based data available on The Trade Desk, because retailers need all of the data-based help they can get to convert new customers and increase revenue this holiday season.”
Unlike other retail targeting products, PreciseTarget’s Taste Audiences do not rely on cookies, clickstream data or personally identifiable information (PII), making PreciseTarget’s technology compliant with current and future digital privacy regulations. By relying on an industry-leading third party to anonymize consumer data from retail partners, PreciseTarget allows retailers to safely improve their own data sets and better understand their best customers.
“The reality is that retailers lack sufficient data to truly understand the preferences and tastes of their customers, who might only buy one or two items per year from any particular brand or store,” said Liddy Manson, COO at PreciseTarget. “PreciseTarget’s data helps retailers solve this ‘sparse data’ problem problem, and we’re excited to make that capability available for marketers and brands across the media ecosystem during this critical season.”
PreciseTarget is the first data company to profile the Retail Buying Taste of every US consumer, enabling brands and retailers to better match their product assortments with customers. Based on unique data sets of more than 5 billion retailer-provided, SKU-level transactions, along with daily data from more than 200 major retailers, PreciseTarget helps retailers improve conversion by more than 50% across channels while fundamentally protecting consumer privacy.
Founded in 2016 by Rob McGovern, the celebrated entrepreneur who founded CareerBuilder, PreciseTarget is committed to helping retailers use consumer taste to acquire new customers, enrich existing customer relationships, and reactivate former customers. Learn more at www.precisetarget.com.
About The Trade Desk
The Trade Desk™ is a technology company that empowers buyers of advertising. Through its self-service, cloud-based platform, ad buyers can create, manage, and optimize digital advertising campaigns across ad formats and devices. Integrations with major data, inventory, and publisher partners ensure maximum reach and decisioning capabilities, and enterprise APIs enable custom development on top of the platform. Headquartered in Ventura, CA, The Trade Desk has offices across North America, Europe, and Asia Pacific. To learn more, visit thetradedesk.com or follow us on Facebook, Twitter, LinkedIn and YouTube.
Hugh S. Moore