Global technology company, Criteo is expanding its Retail Media solution across six markets including Asia Pacific (APAC) to help brand advertisers use retailer’s first-party data to advertise on their sites and apps, as well as on the open internet.
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.
Globally, Criteo’s Retail Media solution is expected to drive nearly $700 million in media monetisation for retailers and $3.3 billion in product sales for brands in 2021.
In Q1 this year, Criteo’s retail media business grew 122% year-over-year, and the expansion of the solution responds to increasing demand, especially 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 $17 billion market today, excluding Amazon and China, and will grow at a 22% CAGR to $32 billion in 2024,” Criteo executive vice president and general manager for growth portfolio, Geoffroy Martin said.
With over 400 dedicated professionals leading up Criteo’s Retail Media team, including 110 software engineers and product developers, Criteo is growing the team to support demand.
Most recently, Criteo appointed Taro Fujinaka (pictured above) as managing director for Retail Media, APAC, responsible for driving the regional retail media ecosystem and delivering value to Criteo’s customers and partners.
Fujinaka brings over 16 years of experience in digital advertising, and Adtech, including roles at Yahoo Japan and IPG Mediabrands Audience Platform. Most recently, he was managing director at Integral Ad Science where he spearheaded the direction of the company in Japan and Korea for over five years.
Since joining the team in March, Fujinaka 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,” he said.