As brick-and-mortar retail gears up for a renaissance this year, Yahoo is diving deeper into e-commerce with a new multi-retailer checkout for ads, the company said Thursday.
The product of the technology company’s partnership with the MikMak e-commerce platform, the update offers add-to-cart functionality and e-commerce analytics for campaigns through native and display ads on Yahoo.
Functionally, updates can make the shopping experience easier for consumers as they can checkout at multiple retailers. They also offer companies more in-depth behind-the-scenes analysis, thanks to MikMak’s platform.
According to Yahoo, the tools allow advertisers to gauge the effectiveness of campaigns and activities of major online retailers, offering information such as add to cart rate, retailer sales, product interest and category references. Businesses can also delve into key insights that can help drive ad targeting, including consumer demographics, psychographics, and behavioral data.
Expectations remain high, and as more people get vaccinated, this will see a big comeback in physical stores. But even so, “e-commerce will continue to grow,” Yahoo said, noting that online purchases are expected to account for nearly a quarter of total retail sales by 2025, according to a July eMarketer report.
This sentiment has driven the company to pursue digital retail initiatives, including the continued development of advertising information and analytics and new partnerships with platforms like Shopify.
The deal, reached last fall, aimed to help merchants deal with changes that would make it harder to target ads, like the loss of cookie tracking. Yahoo Connect ID offered an alternative applicable to the entire Yahoo universe, which includes Yahoo Finance, TechCrunch and AOL, among others.
Context matters. Retail has had a few tumultuous years, and 2022 is about to bring more changes. A resurgence in physical shopping, along with changes in technology policies around user tracking, from Google cookies to Apple iPhone privacy features, and other developments will shape retail in the short term and could shape the industry for years to come.
Yahoo seems to be preparing for it by focusing on data-driven strategies. The movement makes sense. While it is always important to understand customers, it is perhaps never more crucial than in times of great change in consumer behavior.