Criteo, the commerce media company, has partnered with Swiggy to power its offsite retail media campaigns. The collaboration will bring Criteo’s advanced technology to help Swiggy and brands drive full-funnel marketing outcomes outside of the Swiggy website.
Commenting on the partnership, Amitkumar Banka, Head of Growth Marketing, Swiggy, said: “Quick commerce is growing rapidly in India, with a 77% YoY growth, and is expected to continue growing at a rate of 40-45%[1]. Our partnership with Criteo will allow our partner brands and non-endemic brands to reach and engage with quick commerce shoppers across the open internet.” Kashish Vasandani, Director Growth, Swiggy, adds, “The success stories with Kellogg’s and other CPG brands showcase the effectiveness of Criteo’s retail media capabilities that can unlock value for all players in the advertising ecosystem.”
Added Medhavi Singh, Country Head, India at Criteo: “Criteo has a leading market footprint in retail media, including 65% of the top 30 retailers in the Americas and 50% of the top 30 in EMEA, and we are broadening our retail media presence in India and APAC. We are proud to partner with Swiggy, one of the leaders in the quick commerce space, to power their offsite retail media campaigns to further scale in the industry. As the needs for retail media in India grow rapidly, Criteo’s retail media solutions powered by its advanced AI and commerce data enable businesses to make informed decisions and optimise media planning for better results in one unified platform.”
Brands, agencies, retailers, and publishers worldwide are embracing retail media and the larger world of commerce media to drive meaningful outcomes. Criteo, the commerce media company, has conducted a global study of more than 1000 brands, agencies, retailers and publishers in a report titled ‘The Great Defrag: how commerce media will unite advertising in 2024’, bringing together perspectives from all players and all regions into one cohesive story of how to advance retail media to the next level.
The study revealed that 83% of publishers globally are open to tap into retail media adspend by embedding products on their web pages, opening up more inventory opportunities for offsite campaigns. The data also illustrates how retail media has evolved beyond purely sponsored product ads. Overall, 85% of brands and agencies agreed the ability of retail media to drive upper-funnel brand awareness is growing stronger.
Said Brian Gleason, Chief Revenue Officer, Criteo: “Advertisers, publishers and retailers want to make full use of this new media and our mission is to make it as simple as possible. The easier it is for all parties to successfully buy and sell retail media, the faster we reach the potential of this $100 billion market opportunity.”
Criteo, the commerce media company, has released its insights in online retails sales, traffic, consumer behaviour and preferences during Diwali 2023.
Compared to average between September 17 to 30, the impact of pivotal deal days (October 8 to 15) propelled a 26% increase in sales and an 8% surge in traffic. Diwali played a significant role in boosting online sales, witnessing a robust 72% uplift on November 10, just two days prior to the festival. The two-week period leading up to Diwali (October 29 – November 11) showcased a 49% average increase in sales and a 35% surge in traffic, with conversion rates experiencing an upswing of up to 22%. In comparison to the same two-week period before Diwali 2022, Criteo witnessed a 39% increase in online retail sales in 2023. Diwali sales in 2022 grew by 17% of that in 2021, demonstrating a clear acceleration in growth and heightened consumer intent in 2023.
Said Taranjeet Singh, Managing Director, Enterprise, APAC, Criteo: “The significant increase in online sales, traffic, and conversion rates demonstrates that the holiday shopping season presents a great opportunity for businesses in India. Criteo also found that 34% of shoppers who were new buyers during the two weeks approaching 2022 Diwali made at least one additional purchase from the same retailer between November 2022 and March 2023, showcasing the possibility of acquiring new customers and turning them into repeat customers during this season. To capitalise on the opportunity, businesses should start planning and preparing early by implementing a commerce media strategy with a full-funnel and omnichannel approach to achieve seamless shopping experiences.”
Criteo, the commerce media company, and GroupM, WPP’s media investment group, announced the first partnership in Asia Pacific (APAC) to strengthen omnichannel commerce media capabilities for GroupM clients in the region.
Said Anita Munro, Chief Investment Officer, GroupM APAC: “The innovation in commerce that will be made possible through this collaboration with Criteo is a significant and hugely exciting development for advertisers in APAC, and for our industry as a whole. Combining Criteo’s commerce media capabilities with our own not only strengthens our commerce offering in the region, but also allows us to set a new standard for what’s possible in advertising by bringing products, media, clients and consumers closer than ever before.”
Added Taranjeet Singh, Managing Director, Enterprise, APAC at Criteo: “Together with GroupM, we are honored to usher in the next era of omnichannel marketing in the region. This partnership represents a union of industry leadership, and we are optimistic that it will drive greater integration across omnichannel campaigns and elevate success for brands and advertisers.”
Criteo, the commerce media company, announced the general availability of its self-service demand-side platform (DSP), Commerce Max, giving brands and agencies a single point of entry to retail media inventory onsite and across premium publishers offsite. Complementing Commerce Max, Criteo is also expanding its retailer monetization solution suite, offering retailers the means to tap previously unattainable demand by paving the way for the integration of marketplace and in-store monetization technologies.
Retail media has proven extremely successful for retailers looking to grow additional revenue streams and brands and agencies looking to engage consumers actively in a buying mindset. Until now, however, fragmentation across the industry has held retailers, brands and agencies back from reaching their full potential with retail media.
Said Megan Clarken, CEO at Criteo: “Our focus is enabling all commerce-driven companies to buy and sell audiences engaged in shopping. The process has to be frictionless, and it has to solve for fragmentation,” “With today’s launch, we’re equipping our clients with the right tools to cut through and connect in a more unified retail media ecosystem that ultimately creates more unity across the broader advertising marketplace.”
Driving Commerce at Scale
Commerce Max entered market testing in 2022 with leading consumer electronics retailer, Best Buy, and the world’s foremost media investment company, GroupM, as exclusive Alpha partner. Over this period, Commerce Max enrolled 10 retailers including Best Buy, Macy’s and Shipt. Retailers who have completed campaigns have more than doubled conversion rates on average when running both onsite and offsite advertising though the platform.
Industry praise for Commerce Max
Added Billy Dyer, Club Team Shopper Marketing Lead at Unilever: “Through Criteo we now have one point of entry to a pivotal retail media network, all within a single platform – Commerce Max – that applies the same KPIs to retail media as those we use for our programmatic buys. Combining onsite and offsite targeting enables us to focus media spend across a broader part of the shopper funnel while finding the most suitable audiences wherever they are.”
Now in general availability, brands and agencies across the globe can use Commerce Max to access data and inventory across multiple retailers and marketplaces, finding valuable audiences on these sites and extending these audiences offsite. This is underpinned by closed-loop measurement, enabling advertisers to quickly and efficiently determine the effectiveness of campaigns and optimize accordingly.
Criteo, the commerce media company, held its first flagship event “Criteo Commerce Forum”. The event revealed the importance of commerce media and brought some of the industry’s top speakers and influencers on the stage including Flipkart, Dentsu International, and Omnicom Media Group.
Said Sankalp Mehrotra, Vice President – Monetisation, Flipkart: “Our collaboration with Criteo helps advertisers to prospect, retarget and generate awareness amongst online shoppers. Campaigns across verticals have seen disproportionate gains through better targeting and full funnel measurement at scale.”
Taranjeet Singh, Managing Director, Enterprise, APAC, added: “We’re very excited to welcome our clients and partners to Criteo Commerce Forum for the first time in India. Interacting with various players in advertising, e-commerce, and marketing will further help us understand their key challenges and how we can bring powerful solutions backed by sophisticated AI technology to help them maximize their commerce outcome. The success story with Flipkart showcases the effectiveness of Criteo’s commerce media capabilities that can unlock value for all players in advertising.”
Criteom the commerce media company, has announced the launch of Commerce Grid, a supply-side platform (SSP) built for agencies and publishers looking to connect media and commerce with programmatic.
Said Brian Gleason, Chief Revenue Officer at Criteo: “Commerce Grid is another milestone in our transformational roadmap, enabling our existing and future clients to engage in the massive commerce media opportunity. While publishers recognise the opportunity, they’ve also struggled to find a clear path on how to access commerce budgets and buyers. With Commerce Grid, we’re able to connect them directly to commerce demand and opportunities, while giving agencies and brands the flexibility to access desired commerce segments, coupled with premium supply, through their preferred demand platforms.”
Omnicom Media Group (OMG) served as an exclusive agency partner for the launch. Said Megan Pagliuca, Chief Activation Officer at OMG: “Commerce Grid marks a significant step forward for the industry by enabling both flexibility and performance. This gives us a new opportunity to find and reach the right audiences by leveraging existing buying systems and workflows to deliver superior commerce outcomes for our clients.”
Criteo, the commerce media company, released its ‘2023 Commerce Media Market Trends Report’, which sheds light on how retailers and advertisers can seize opportunities in the rapidly evolving landscape of Commerce Media.
The report highlights 10 key trends that are set to alter the Commerce Media landscape which includes:
ChatGPT is rewriting marketing and retail playbooks
Generative AI like ChatGPT is set to transform the ad tech industry and will likely gain a permanent seat on the ad tech agenda due to its ability to provide a more personalized shopping experience. Retailers and brands are expected to adopt retail-specific generative AI tools to optimize their ad campaigns and improve customer service.
Gen Z’s new spending power is changing commerce
As Gen Zers move beyond TikTok and become more established as adults with significant spending power, advertisers are seeking to tap into this conscientious consumer demographic. In 2023, marketers will use a mix of tactics and platforms to reach this cohort and tap into their values around sustainability, affordability, diversity, and inclusion more efficiently.
Sustainability in advertising
Media buyers and owners are expected to prioritize eco-conscious practices in every aspect of their business. Adopting carbon-neutral campaigns, utilizing net-zero emissions marketplaces, and leveraging attention-monitoring technology to optimize ad effectiveness are all examples of this.
Omnichannel becomes Essential
As online and offline channels increasingly converge, retailers and brands must accelerate their efforts to embrace a fully integrated commerce future. This will involve leveraging strategies such as research online purchase offline, cross-channel attribution, and physical attraction to create a seamless customer experience.
Data Monetisation Redefined
By leveraging first-party, closed-loop data sets, advertisers gain valuable insights into consumer behaviour and preferences. Retailer data sets offer several advantages, including reliable and compliant data in the face of growing privacy regulations and the vulnerability of third-party cookie replacements. As a result, retailers’ first-party data is becoming increasingly valuable for creating effective advertising campaigns.
Brand Budget
A brand budget is crucial for businesses looking to establish a strong brand identity. A brand budget is the amount of money allocated to promote and maintain a brand image, and it includes expenses such as advertising, content creation, and influencer partnerships. The report suggests that businesses should aim to allocate a minimum of their revenue towards their brand budget. However, this may vary depending on the industry and the stage of the business’s growth. The report also highlights the importance of tracking and measuring the effectiveness of the brand budget to ensure that it is generating a return on investment. By prioritising a brand budget, businesses can establish a strong brand identity and increase their brand recognition among consumers.
Agency partner
An agency is cited as a key strategy for businesses looking to improve their marketing efforts. An agency partner can provide a wealth of expertise and resources to help a business reach its marketing goals. The report suggests that businesses should look for an agency that specializes in their industry and has a strong track record of success. In addition, the report highlights the importance of clear communication and collaboration between the business and its agency partner. By working together closely, businesses and agencies can develop effective marketing campaigns that drive results. Overall, partnering with an agency can be a valuable investment for businesses looking to improve their marketing efforts and stay ahead of the competition.
Budget Migration
The concept of budget migration, which refers to the shifting of advertising budget from traditional channels to digital channels. With the rise of digital advertising, many businesses are recognizing the need to allocate more of their budget towards digital channels in order to reach their target audience effectively. The report highlights the benefits of budget migration, such as the ability to reach a wider audience and track the effectiveness of advertising campaigns more accurately. However, the report also acknowledges that traditional channels such as TV and print can still be effective for certain businesses and audiences. Overall, budget migration can be a valuable strategy for businesses looking to stay competitive in the ever-evolving landscape of advertising.
Going offsite
The growing trend of businesses “going offsite” to reach new audiences and diversify their marketing efforts. Going offsite refers to the practice of advertising on platforms and websites outside of a business’s own website and social media channels. This can include partnering with influencers or advertising on third-party websites and social media platforms. The report suggests that going offsite can be a valuable strategy for businesses looking to reach new audiences and increase their brand recognition. However, the report also emphasizes the importance of selecting the right offsite channels and tracking the effectiveness of campaigns to ensure a positive return on investment. Overall, going offsite can be a valuable addition to a business’s marketing strategy in today’s digital landscape.
Generative AI
Generative AI is a form of artificial intelligence that can create new content such as images, videos, and text. The report suggests that generative AI can be a valuable tool for businesses looking to create personalised and engaging content for their audiences. For example, generative AI can be used to create personalised product recommendations or to generate unique images and videos for advertising campaigns. However, the report also acknowledges that the use of generative AI raises ethical concerns, such as the potential for the creation of biased or offensive content. As such, businesses using generative AI must be careful to ensure that their content is ethical and aligns with their brand values.
Taranjeet Singh
Said Taranjeet Singh, Managing Director, Enterprise, APAC, Criteo on the report: “In this competitive landscape, there remain opportunities for retailers and advertisers to continue engaging customers while expanding their reach and it simply lies in their ability to identify and create shoppable moments. Our report captures the changing landscape of commerce media and the opportunities that retailers and advertisers will face in 2023. As the industry continues to evolve, Criteo is excited about the potential of commerce media and committed to empowering our clients with the technology and insights they need to succeed in this dynamic landscape.”
Criteo, the commerce media company, acquires Brandcrush, an Australia-based company whose platform enables the buying and selling of omnichannel retail media, including offline media channels. With this acquisition, Criteo will be able to provide a holistic omnichannel monetization solution globally for retailers to manage their entire media inventory across both ecommerce and physical retail while enabling brands and agencies to seamlessly discover and purchase omnichannel media from leading retailers. Additionally, the acquisition expands Criteo’s client footprint and capabilities in the rapidly growing Asia-Pacific retail media market, strengthening Criteo’s global leadership in retail media.
Said Sherry Smith, General Manager of Global Enterprise at Criteo: “As marketers continue to invest in retail media, offline is emerging as the new frontier – and brands and agencies must be able to effectively plan, execute, and measure their campaigns in an integrated way. Brandcrush directly addresses the current market need for consolidated offline and online advertising management, and our combined solutions will make omnichannel retail media strategies a reality, empowering retailers to own their entire retail media ecosystems.”
Criteo, the commerce media company, has released the trends observed during the Indian peak shopping season sales 2022 period, highlighting the opportunities created for all the retail and buyers with the deals across verticals and product categories in the post-Covid times. The data give a comparative analysis of product category insights between 2021 and 2022 observed during the Indian peak shopping season sales.
According to Criteo’s insights, recovery sales increased by +20% during the Indian peak shopping season sales in 2022 compared to the previous year’s events. Additionally, sales were up almost 30% on July 31, and 21% this year, four days before Raksha Bandhan (August 11, 2022), compared to the average in July 1-14, 2022.
Notes the communique: “As we enter the festive season, the Indian peak shopping season sales showcased an overall increase in online sales to a +30% increase during the period compared to a +19% increase during the 2021 sales event. In fact, on the first day of the sales event this year, online sales increased by +28% compared to 2021.”
Highlighting the surge observed in the trending product categories from numerous verticals during the Indian peak shopping season sales:
Hats were the most trending in 2022, with an 87% increase in sales, whereas bridal party dresses showed an increase of +101% during 2021’s event
In electronics, while flash Memory saw a 100% surge in daily sales during the event, Storage Devices stood out with an uptick of +41% in 2021 event
Televisions were the most trending category amongst Indian consumers. The category saw +44% increase in unit sales during 2022 and +32% during 2021 event.
During the Indian peak shopping season sales, Food Gift baskets have always seen a major hike, irrespective of the pandemic. In 2021, there was a +99% hike in unit sales on the last day of the event. During the event in 2022, Wine was most preferred, with a 34% sales growth overall. Last year, dried fruits were popular during the event with an uptick of +24%.
During the Indian peak shopping season salesperiod, Hair Styling Products had an overall uptick of +70% compared to the body weight scale (55%) during the 2022 event. Travel Pillows were popular in both years with (+83%) in 2021 and (53%) in 2022. Massagers (+63%) were also trending during the Indian peak shopping season in 2021.
Candles and many other home goods were in high demand during the Indian peak shopping season salesperiod; the following categories’ sales were up in 2022 and 2021
Light Ropes and Strings: 218% (2022)
Trash Cans and Wastebaskets: 112% (2022)
Electric Kettles: 98% (2022)
Food Mixers & Blenders: 85% (2022)
Tablecloths: 102% (2021)
Slipcovers: 95% (2021)
Wallpaper: 51% (2021)
Home Decor Decals: 46% (2021)
Refrigerators: 44% (2021)
Candles: 44% (2021) and 75% (2022)
Artificial Flora: 29% (2021)
Bath Towels & Washcloths: 28% (2021)
Said Taranjeet Singh, Managing Director, Southeast Asia and India, Criteo: “This year, the Indian e-commerce and retail industry saw a combined festive surge in the unit sales as consumers go hybrid in their purchasing preferences. The Indian peak shopping season sales saw some new categorial uptick, including coffee makers & expresso machines, travel pillows, futons, and sofas, and so on, indicating the economy’s recovery and growth as well. With new categorial uptick, we encourage marketers across sectors to continue to invest in digital advertising in the ongoing festive season with Commerce Media strategies that cover all the purchasing funnels and shopping channels”.
Flipkart and Criteo have announced a partnership to launch Product Performance Ads (PPA) with Full Funnel measurement capabilities. This will strengthen Flipkart’s off-platform offerings and create opportunities for advertisers across segments to reach and engage high intent customers.
Speaking about the launch of Flipkart’s PPA platform and the partnership with Criteo, Sankalp Mehrotra, Vice President – Monetisation, Flipkart, said: “Commerce advertising is growing faster than the overall digital market, and we believe that it will be a large part of the overall digital pie in a short time. Flipkart Ads is focused on providing technology-led advertising solutions to ensure the most relevant experience and outcomes for advertisers and customers alike. In addition to our current suite of advertising options, the launch of PPA in partnership with Criteo will help address the needs of incumbent and insurgent brands across verticals to solve their full-funnel marketing objectives on the open internet.”
Added Taranjeet Singh, Managing Director, SEA & India, Criteo: “We are happy to announce the partnership with Flipkart, India’s homegrown e-commerce platform, to further accelerate and utilize Criteo’s commerce media capability. By combining Criteo’s superior audience-first technology and Flipkart’s reach, we will be able to offer a remarkable capability to marketers and brands to achieve meaningful marketing outcomes on the open internet.”
Criteo, the global technology company that provides the world’s leading Commerce Media Platform, released its first commercial along with ‘The Future Is Wide Open’ microsite. These versions represent Criteo’s efforts to create an “open internet” in which customers have the power over what they discover, how firms engage with their information, and how businesses and creators of all kinds could connect with them.
Notes a communique: “Through this advertisement Criteo is starting a conversation about the future of the open internet to guide clients, employees, content creators and media partners to create an online ecosystem with more diversity, inclusion and access than ever before. For this campaign, Criteo partnered with Technology, Humans, and Taste [THAT].”
