API-led ad serving company Kevel has secured $23 million in Series C funding. The funding is expected to allow Kevel to lean harder into retail media and drive product innovation, both to retailers and to marketplaces offering on-site retail media ad products. Kevel also announced the expansion of its C-Suite, adding former Frame.io CRO Puja Rios as President/COO.
In a survey of 500 advertising experts at brands, agencies and publishers, the IAB found that 95% expected privacy legislation and signal loss to continue to challenge the ad ecosystem, not just in 2024 but beyond. Nearly 80% expect to see investment in data privacy expertise training. Ad budgets are shifting to CTV, retail media, search, and social networks. Increased reliance by advertisers on walled gardens will be bad news for smaller independent publishers.
Daasity, an analytics and data platform for consumer brands with omnichannel digital strategies, has announced the acquisition of Red Fox Analytics, a platform focused on retail CPG. As a combined digital and retail analytics platform, it will expand the range of sources of data brands can access in one place. The move seeks to break down ecommerce and retail data silos.
Traffic to ecommerce websites fell 1% year-on-year while ecommerce app sessions rose 13%, according to Similarweb. Shopper experience still needs improvement: 41% of shoppers feel like strangers to their favorite retailers and only 20% see frequent personalization. Convenience is king: 55% say they’d pay more to find the right item without scrolling through several pages of results.