According to eMarketer, US ecommerce sales will reach $794.50 billion this year, up 32.4% year-over-year. In response to this shift in consumer purchasing habits, marketers are turning to retail media to reach shoppers with measurable ads on ecommerce sites and apps. By the end of this year, eMarketer also predicts that retail media will represent 12.2% of US digital ad spend.
As more shopping moves online, we’ve seen explosive demand from brands who want to better engage shoppers with relevant ads on the Target website and app. Criteo Retail Media’s strategy to launch an API partnership program for proven ecommerce platforms, such as Pacvue, enables us to offer our brand advertisers more choices for how they manage and optimize retail media campaigns with leading retailers such as Target.
Criteo evolves partnership with Roundel to meet brand needs
In this fluid and volatile environment, Target’s durable strategy and resilient team powered its ability to serve guests and deliver historic business performance. In its Q3 earnings, Target’s stated that online sales grew 155%. Average basket size, across in-store and online, grew 15.6%. Brands are looking for more ways to meaningfully engage with shoppers who are spending more time online, and reaching guests on Target.com and the Target app is one great way to do so.
Through our long-standing partnership with Roundel, media re-imagined by Target, Criteo Retail Media has powered sponsored product advertising opportunities on Target.com, enabling brands to increase visibility of their products for shoppers who are likely to be interested. More recently, Criteo extended its partnership with Roundel to also enable brands to bid on sponsored products ads in its rapidly growing app.
The Criteo Retail Media Platform enables brands to easily buy across an open ecosystem of retailers, and to reach consumers at all stages of their journey with a variety of ad formats and targeting options. By participating in this open ecosystem, Target is helping to make retail media easier for brands to execute and scale.
Target and Criteo collaborate to launch Pacvue as Criteo API Partner
With brand interest in retail media accelerating, the time was right for Criteo Retail Media and Target to work together to provide brands with more flexibility. The launch of the Criteo Retail Media API enables seasoned technology providers such as Pacvue to build tools that help advertisers fuel successful retail media campaigns outside of just Amazon.
By integrating with the Criteo Retail Media API, Pacvue allows marketers to expand their advertising to new channels, while continuing to manage their campaigns with the holistic performance data, flexible reporting, and smart optimizations that they have come to rely on from Pacvue.