In a new report from Technology Business Review, analysts Stuart Williams and Zach Rabel identify and explain a high-growth market segment they call “Shopper Engagement”, estimated to be valued at USD 38 billion by 2021.
The new normal is omnichannel, and more than ever, the online and offline worlds of commerce are converging. Purchasing paths continue to evolve, and there’s no single road map for the customer journey, which takes place across all digital devices, at all hours of the day.
In the current landscape, marketers use multiple tools and services to engage consumers throughout their shopping experience, from initial interest to a successful purchase. As both the reach of digital marketing and consumer behavior become more sophisticated, most marketers will need to find an integrated solution. TBR calls this Shopper Engagement, which takes the massive amounts of real-time, high-quality signals from consumers across channels and devices and activates them in real time to drive a conversion.
The Shopper Engagement Solutions market is expected to grow at a rapid pace, surpassing other high-growth digital marketing tactics to become a $38 billion piece of the pie by 2021. Tech-savvy brands will be able to integrate existing technologies internally, but TBR predicts that agencies and services firms will also enter the space, offering outcomes-based services for brands seeking speed, expertise, and results. Learn what TBR anticipates the trends for Shopper Engagement will be as the market develops.