Criteo has announced its expansion to offer Criteo Retail Media solution across six markets in Asia Pacific (APAC). Its Retail Media solution helps brand advertisers to use retailer’s first-party data to advertise on retailer sites and apps, as well as across the open Internet.
Since its regional launch in Japan by the end of 2019, the Criteo Retail Media solution is now available in five 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. 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.
“We were quick to expand our Retail Media offerings here in Asia, a key growth market for Criteo. In Q1 this year, our retail media business grew 122 per cent year-over-year, and we are excited to see increasing demand for our technology, especially here in Asia. 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 per cent CAGR to $32 billion in 2024,” explained Geoffroy Martin, EVP & General Manager, Growth Portfolio at Criteo.
Leading the Charge in Asia
With over 400 dedicated professionals leading up Criteo’s Retail Media team, including 110 software engineers and product developers, Criteo is quickly growing the team to support rapid demand.
Most recently, Criteo appointed 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 utilise Retail Media.
Taro brings with him over 16 years of experience in digital advertising, and Adtech, including roles at Yahoo Japan and IPG Mediabrands Audience Platform where he was involved in prior to joining Criteo. Most recently Taro was Managing Director at Integral Ad Science where he spearheaded the direction of the company in Japan and Korea for over five years. Throughout his career, Taro has played a fundamental role in energising the digital advertising industry in Japan and building high-performing teams to achieve market influence for brands.
On his new role with Criteo, Taro has shared his excitement on leading the retail media business in its next phase of growth, and to expand Criteo’s regional portfolio of customers for the technology. Since joining the team in March, Taro has worked with the team to drive awareness and adoption across the region and supercharge retailers’ efforts to leverage high-value media assets and first party data on behalf of leading brands.
“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 concluded.
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