I'm not sure I agree. I mean, I see the theory you're getting at, but the Dyson example is built on a few assumptions we'd need more data on -- starting with the notion that Dyson owners are disproportionately more likely than owners of other vacuum cleaners to have second homes. And even if they do, that's, well, one more sale at most, and one that's more likely to be influenced by their experience with the first Dyson rather than ongoing advertising. When you say that you buy repeat items as gifts because they turned out well, you're tacitly confirming that further advertisements for that product aren't necessary to reach you. At best, the ads can sway you if they happen to be running an unusually good deal on the product you've already decided you want to buy.
The big problem targeted ads have now is, as other people have pointed out, that they seem to be targeted with knowledge of what you've recently been looking to buy, but not knowledge of what you've recently bought. If I search for polo shirts, I'm in the market for polo shirts, but once I buy polo shirts, I'm probably not going to be in the market for them for a few months. Once I buy a car, or a television, I'm probably not going to be in the market for another one for years.