The Criteo Retail Media solution is now available in 5 more markets, including Korea, Australia, South-East Asia, Taiwan and India.
Criteo S.A. has expanded to offer Criteo Retail Media solution across 6 markets in Asia Pacific (APAC), the Commerce Media Platform provider announced on 27 July.
Its industry leading Retail Media solution helps brand advertisers to use retailer’ first-party data to advertise on retailer sites and apps, as well as across the open Internet, the company said in a statement.
Since its regional launch in Japan by the end of 2019, the Criteo Retail Media solution is now available in 5 more markets, including Korea, Australia, South-East Asia, Taiwan and India. The solution enables retailers and marketplaces to generate new revenue from their brand partners.
According to the company, brands can also reach shoppers at the digital point of sale and have complete visibility into the impact of media spend on product sales. This has proven instrumental in providing an optimal user experience, with shoppers able to receive relevant ads on the retailers’ own websites, while they shop conveniently online.
Globally, Criteo’s Retail Media solution powering over 100 retailers and 120 agency customers, is expected to drive nearly $700 million in media monetisation for retailers and $3.3 billion in product sales for brands in 2021. Most recently, Criteo announced an international three-year partnership with Carrefour to use the Criteo Retail Media technology platform, where advertisers will be able to promote their products on all of Carrefour’s digital media.
“In Q1 this year, our retail media business grew 122% year-over-year, and we are excited to see increasing demand for our technology, especially here in Asia,” said Geoffroy Martin, EVP & General Manager, Growth Portfolio at Criteo. “A key component of our commerce media strategy, Retail Media is also an addressable market expected to grow quickly.”
According to McKinsey, Retail Media is a $17B market today, excluding Amazon and China, and will grow at a 22% CAGR to $32 billion in 2024, he added.
Leading the Charge in Asia
Criteo also announced the appointment of Taro Fujinaka as Managing Director, Retail Media, APAC. In this role, Taro will work to drive the regional retail media ecosystem and deliver value to Criteo’s customers and partners as they continue to utilize Retail Media, the said.
“As brands prepare for the post-cookie world, Retail Media will play a pivotal role in empowering brands who seek new addressable media opportunities in the evolving identity landscape. Combining a highly differentiated ad inventory with unique first party data, we are confident that its availability and the strengthened capacity of our regional team will help with driving the industry forward in the years to come,” Taro said.