New Solutions Combine PreciseTarget’s Product Taste Audiences with Equifax Economic and Spending Capacity Data
PreciseTarget announced the expansion of a strategic data relationship with Equifax to help retailers more efficiently target and convert customers based on personal shopping taste. Beginning in early November, the partnership will offer new products that combine PreciseTarget’s Product Taste Audiences with Equifax economic and spending capacity data, enabling retailers to more effectively identify and market to consumers according to each individual’s retail shopping taste.
“Helping the retail industry succeed by providing insight and matching them with their ideal customers through precise messaging is an exciting opportunity for us,” said Jeff Sporn, Chief Digital Officer of Data-driven Marketing at Equifax. “Artificial Intelligence-enabled assortment planning and ecommerce are changing consumer shopping habits rapidly, and these revolutionary data sets will empower retailers to thrive in this new reality.”
Economic data from Equifax helps improve marketing efficiency with an estimate of consumers’ likely discretionary spending power. PreciseTarget’s one-of-a-kind approach to profiling consumer taste helps brands and retailers overcome challenges typically associated with sparse customer data. PreciseTarget analyzes daily retail data and billions of transactions to identify the attributes that actually determine individual consumer shopping taste and purchase habits – attributes like fabric, price, brand, fit, and color.
“We are proud to announce this exciting new chapter in our partnership with Equifax,” said Rob McGovern, CEO of PreciseTarget. “By combining the unmatched Equifax understanding of consumer spending capacity with PreciseTarget’s unique ability to reach consumers according to their individual taste, we’re giving retailers the ability to serve relevant advertising that will increase sales, improve efficiency and reduce waste. As businesses gear up for the make-or-break holiday shopping season, the need for retailers to be agile in their planning and marketing has never been more essential.”
Unlike other retail targeting products, PreciseTarget’s taste audiences do not rely on cookies or clickstream data. PreciseTarget’s Product Taste Audiences provide profiles of over 220 million consumers, and, combined with spending capacity data from Equifax, will allow for unprecedented insights in customer acquisition and conversion for retailers.