According to research by Centre of Retail Research (CRR) and VoucherCodes, UK retailers could benefit from a £1.33bn economy boost during the World Cup this summer if England make it through to the second round.
And if they get through to the final, that’s set to rise to £2.72bn.
The sectors that are likely to see the biggest World Cup bonanza are:
- Food and drink
- TV electrical
But, if brands aren’t GDPR ready, they risk missing out.
Are you ready for the World Cup?
In order to reap the potential World Cup windfall, retailers need to ensure they’ve fully prepared for GDPR by:
Reaching the widest inventory
Volumes of available inventory have reduced following GDPR, resulting in a drop in performance for many advertisers (CPAs are on the up, while ROI and engagement are dropping). But not all advertisers are being hit. You can still achieve performance, and score those World Cup sales from your competitors by carefully choosing your DSP.
Gaining consent from users
If you want to use data to retarget potentially warm prospects in display advertising campaigns, you need to gain consent. But many brands don’t yet have any way to do this. So they’re either cancelling their campaigns completely (giving you the competitive edge) or they’re risking a fine.
With a potential £2.72bn extra on the table during the World Cup, you can’t afford to wait to get consent. (Find out how our consenTag makes gathering consent easy.)
Running campaigns without consent
Even if you don’t have your consent solution up and running in time, all is not lost. We can help you run highly effective performance campaigns using context, location, time, device and other criteria – and remain safely compliant with GDPR.
Don’t score an own goal in the World Cup
With an extra potential £2.72bn being spent in the UK during the World Cup, the real winners will be the brands who are GDPR ready with their display campaigns.
And the losers will be the brands paying more for a reduced inventory, missing out on retargeting opportunities or cancelling their display advertising completely out of fear.
So if you don’t want to score an own goal in one of the biggest retail opportunities of the year, we recommend getting in training now.
We can help you reach the right audience right now, and stay GDPR-compliant. To find out exactly how we can help, email Jon Weeks or call 020 7821 6864.
Work in retail and struggling with your display campaigns? Discover how GDPR has changed the way retailers need to approach display marketing, by joining us at one of our breakfast events in London and Manchester at the end of June. Click here to find out more.