The global digital retail marketing market is expected to grow at a CAGR of 18.29% during the period 2017-2021.
The report, Global Digital Retail Marketing Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the Key vendors operating in this market.
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.