The platform enables retailers to grow advertising revenue by providing transparency, flexibility and control to brands and agencies
Criteo S.A., the global technology company powering the world’s marketers with trusted and impactful advertising, today announced the launch of its first-to-market, self-service Retail Media platform. Retail media, the placement of brand-sponsored advertising within retailer e-commerce sites and apps, is growing rapidly as shopping increasingly moves toward e-commerce.
Now, retailers can drive incremental revenue by providing tools that make it easy for brands and agencies to manage retail media campaigns, while also maintaining control of the shopper experience. Additionally, retailers and brands using the platform can deliver consent-based, personalised advertising without relying on third-party cookies.
Also read: Social Listening Empowers Marketing
“Criteo has built the technology that allows retailers and brands to better partner with one another to deliver a more relevant shopping experience and increase product sales,” said Geoffroy Martin, EVP and General Manager, Growth Portfolio at Criteo. “We’re thrilled to now offer a transparent-by-design platform, which enables retailers to scale their retail media businesses and makes it easier for brands to buy across retailers using standardised workflows and metrics. This will truly accelerate retail media to the next level of brand investment.”
David Hutchinson, VP, Marketplace and Retailer Optimisation, iProspect, added: “Retail media was already growing, but we have seen an increase of dollars flowing to it in the past two months. Brands now more than ever need the right solutions to reach and engage consumers on the websites and apps of their omnichannel retail partners, and to tie media spend to sales outcomes. Criteo’s new platform provides the transparency and control we need to meet client objectives.”
Retail media provides retailers with an additional revenue stream amid an increasingly competitive e-commerce market. Criteo estimates that the total addressable market for retail media is anywhere between $15 billion to $25 billion worldwide. The new platform will enable retailers to power their vendor marketing programs, to tap into different types of budgets such as search and national media, and to enable a variety of creative and targeting capabilities for brands.
The launch marks Criteo’s execution on its full-funnel vision and continued diversification beyond retargeting. As Criteo continues to grow its retail media business, the platform provides brands with access to unique inventory, data and measurement capabilities.
The Criteo Retail Media platform is currently available to clients in the U.S. and Canada and is planned for release to clients in EMEA and APAC later in 2020.