Chicory, the leading contextual commerce advertising platform, and studioID, Industry Dive's award-winning global content studio, recently shared key findings from their new survey of 150 CPG and food brand marketers. The joint research aims to establish a baseline understanding of how marketers are navigating third-party cookie deprecation. The results provide real-time insights into CPG marketers’ most pressing concerns, level of preparedness and preferred replacement strategies.
"As we navigate the evolving digital marketing landscape, the phase-out of third-party cookies presents both challenges and opportunities for CPG brands. Our survey underscores the industry's growing concern, but it also highlights a promising path forward, characterized by highly effective, consumer-first strategies, like contextual commerce,” said Chicory CEO & Co-Founder Yuni Baker-Saito.
According to the study, 72% of CPG marketers are concerned about the deprecation of third-party cookies. Specifically, budget concerns related to finding a replacement strategy (73%) and loss of scalability (70%) are their most significant pain points. To address these challenges, 52% of respondents who have already transitioned away from third-party cookies have adopted contextual commerce, and 56% of those who have yet to transition away are considering adopting contextual commerce.
Contextual commerce is a marketing strategy that turns commerce-oriented content into a shopping moment without relying on any first- or third-party data. Popular examples of contextual commerce in the grocery space include in-recipe advertising, complementary product recommendations and commerce-enabled links within food content. Each of these reaches consumers with hyper-relevant messaging during high-intent moments of the grocery shopping journey. This type of privacy-conscious targeting is critical to a successful advertising strategy today, as 86% of respondents claim they are taking growing consumer privacy concerns into consideration.
Current contextual users report that the three advantages of the strategy are: Its ability to acquire new customers (77%), its scalability (65%), and its ability to reach customers in high-intent moments (50%). These and other survey findings are detailed in a new report from Chicory and studioID, titled “Beyond Third-Party Cookies: How CPG Brands Can Reach Consumers at Scale and Drive Impact with Contextual Commerce.”
"Chicory remains steadfast in its commitment to providing brands with scalable and effective advertising strategies that prioritize consumer privacy. By harnessing hyper-relevant messaging during high-intent, off-site moments, we enhance overall addressability for brands while ensuring seamless online shopping experiences for end-users," explained Baker-Saito.
As the digital advertising landscape continues to evolve rapidly, Chicory expects to conduct more research surrounding CPG preparedness and update its perspective on third-party cookie deprecation. Visit info.chicory.co/beyond-third-party-cookies to follow along.
About the Chicory/studioID Survey
From November 11 to 15, 2023, Chicory and studioID surveyed 150 marketers from food and CPG companies of all sizes, with worldwide revenues ranging up to $50 billion, about their feelings about forthcoming changes in the advertising industry amid deprecation of third-party cookies. The vast majority (83%) of respondents are director-level or above (Vice Presidents or C-Suite), and a majority (53%) manage annual marketing budgets of more than $1 million. The sample was drawn from Food Dive databases. All participants work in the Food and Beverage industry or the Consumer Packaged Goods industry.
About Chicory
Chicory, the leading contextual commerce advertising platform, transforms recipe content into commerce media. Its platform powers a network of recipe publishers and retailers that CPG brands use to reach 123 million high-intent grocery shoppers each month. Chicory's contextual advertising and shoppable recipe solutions can be found on 5,200+ websites and food blogs, including the Food Network, Delish and LandOLakes.com. Sites enabled with our technology take grocery shoppers from inspiration to checkout in just a few clicks, driving products to cart for 70+ leading retailers. Learn more at www.chicory.co.