London, October 14, 2020 – Criteo (NASDAQ: CRTO), the global technology company powering the world’s marketers with trusted and impactful advertising, today launches its self-service Retail Media Platform in Europe.
As consumers continue to shift spending towards e-commerce, digital Retail Media is critical to helping retailers maintain margins and brands engage shoppers at the point of purchase. Criteo’s new Retail Media Platform – now available in Europe – is designed to accelerate Retail Media to the next level, providing retailers one platform to scale their Retail Media businesses and enable brands and agencies to buy ad space across retailers using standardised workflows and metrics.
“Retail Media offers retailers an additional stream of revenue in an increasingly competitive retail and e-commerce landscape. We estimate the total addressable market for Retail Media to be between $15 billion and $25 billion worldwide.” comments Geoffroy Martin, EVP and General Manager, Growth Portfolio at Criteo. “For brands, retail media enables reaching high-value audiences, without relying on third party cookies, and tying advertising spend directly to sales outcomes. Furthermore, in the digital age, brands are more exposed to brand safety issues, and Retail Media provides a brand safe, highly relevant home for digital ad investments.’’ concludes Geoffroy Martin.
Criteo Retail Media Platform is perfectly placed to cater to the evolving European Retail Media market. Brands are increasingly shifting their budgets to Retail Media, as the new commissioned study “Consumer Product Brands: It’s Time to Take Control of Your Retail Media Destiny” conducted by Forrester Consulting unveils. Indeed, as online sales growth continues, 71% of European advertisers value Retail Media because it allows brands to follow the evolution of consumer purchase behaviour from physical retail to e-commerce.
Moreover, Retail Media’s growth trajectory is likely to continue as retailers and brands gain access to better tools to manage retail media investments. As the Forrester Consulting study demonstrates, 90% of brands said they would shift more budget to Retail Media if retailers’ advertising platforms allowed for more measurability, control, and transparency. By bringing together sponsored product and display ad formats and enabling flexible creative, audience targeting, and inventory controls, Criteo’s new platform provides brands, agencies and retailers with the transparency and control they need to scale their Retail Media businesses.
“Retail Media has played an increasingly pivotal role in digital commerce growth for brands over the last eighteen months, but due to the acceleration of digital brought on by Covid-19, this is a crucial time for brands to lean into activating Retail Media”, says Stuart Johnston, Omnichannel Commerce Director at Publicis. “Criteo’s new Retail Media Platform is hugely exciting as it reduces the silos that exist across the industry with regards to inventory, allowing brands to connect with consumers, based on rich behavioural insights, close to the point of conversion in a way that hasn’t really been possible before. The obvious benefit of this powerful platform and its placement capabilities is that we can increase efficiency of advertising budgets across the highly consumer-engaged retail environment.”
Since 2016, Criteo has powered the Retail Media programs of leading retailers, brands, and agencies, such as Leclerc, MyToys and Under Armour. Criteo’s new Retail Media Platform has already been rolled out to US and Canada in May 2020. This launch demonstrates Criteo’s vision for its full-funnel activities and the pursuit of diversifying its product portfolio.
Criteo (NASDAQ: CRTO) is the global technology company powering the world’s marketers with trusted and impactful advertising. 2,700 Criteo team members partner with over 20,000 customers and thousands of publishers around the globe to deliver effective advertising across all channels, by applying advanced machine learning to unparalleled data sets. Criteo empowers companies of all sizes with the technology they need to better know and serve their customers. For more information, please visit www.criteo.com