First-party data, proprietary data collected with user consent by companies, becomes more relevant as the market progresses towards phasing out third-party cookies. Google has announced its plan to disable them for one per cent of Chrome browser users in the first quarter of 2024.
This move is a crucial step towards the demise of third-party cookies – data collected from multiple sources by third parties.
However, companies should not wait for that moment, they should already be investing in first-party solutions and strategies to adapt to this new landscape – because the adoption brings immediate returns.
Complying with the General Data Protection Law (LGPD) and based on publicly collected data through their technology, the study First-Party Data: How Major Companies Use It to Generate Insights, produced by the agency Macfor, provides an overview of first-party data in the Brazilian retail sector and reveals insights into its relevance in the national e-commerce.
The study aims to understand the contexts and strategies and highlight the advantages of using primary data while guiding marketing strategies to leverage results.
The study compiles previously disclosed data to confirm the importance of adopting first-party data. One such data point from BCG/Google shows that companies using primary data for key marketing functions achieve up to 2.9 times higher revenue and up to 1.6 times cost reduction. The return on investment for adopting data privacy policies can be up to 1.8 times.
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