Criteo Australia and New Zealand managing director, Colin Barnard has delivered his top three predictions for the year ahead, focused on retail media, Google’s 2023 deadline and the future of video advertising.
Shift to retail media
As we shift away from relying on third-party cookies, retailers must be data-driven or they’ll fall behind, with a first-party data strategy absolutely critical for ecommerce growth, according to Barnard.
“In 2022, adopting retail media advertising will be vital for retailers looking to monetise their audiences with first-party data and take their sales growth to the next level.”
Google’s 2023 deadline
While Google Chrome’s removal of third-party cookies may seem further than we think, there’s no doubt the solution for addressability will come later than needed and many businesses will be left scrambling, Barnard said.
“In 2022, we’ll see more future-gazing retailers testing and fine-tuning multiple solutions including contextual and cohort-based advertising to provide optimisation and measurement capabilities that other players in the ecosystem will struggle to adopt in time for 2023.”
Video advertising
In 2022, more Australians will shift away from watching free-to-air television as they increasingly look for more on-demand, convenient entertainment options such OTT and CTV services and platforms.
“This will lead to online video advertising taking a bigger share from free-to-air and the rise of advertising formats like contextual and cohort-based targeting. By identifying consumers through their browsing behaviours and contextual signals, more retailers will use video advertising to target and convert relevant consumers without relying on third-party cookies next year.”