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Tag: Taranjeet Singh

  • Retailers and advertisers can seize opportunities, notes a Criteo report

    10 Trends in Commerce Media

     

     

    By Our Staff

     

    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
    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.”

     

  • The data give a comparative analysis of product category insights between 2021 and 2022 observed during the Indian peak shopping season sales

    Online sales up 20% in peak shopping season: Criteo

    By Our Staff

     

    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”.

     

  • To offer brands advertising solutions

    Flipkart partners with Criteo to bring Product Performance Ads

    By Our Staff

     

    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.”

     

  • According to 2021 data, home furnishing and food topped the list of shopping categories

    Criteo releases festive seasonality data

    By Our Staff

     

    Criteo, the global technology company that provides online display advertisements, has released the findings from the 2021 and 2020 festive seasonality data. According to the 2021 data, home furnishing and food topped the list of the most popular shopping categories with +42% and 18% sales 5 days before Diwali.

     

    Criteo’s data further revealed that this year marketers witnessed an early shopping hype during pre-Diwali from late September 2021, compared to mid-October in 2020. The highest peak observed during the period of the Big Billion Days was on October 3rd 2021, representing an overall Y-O-Y daily sales of 200% with the first 7 days of September 2020 as a baseline.

     

    Said Taranjeet Singh, Managing Director of Southeast Asia and India, Criteo: “The Indian E-commerce industry had seen a categorial upsurge, enabling marketers to invest more in digital advertising including mobile marketing. We observed that consumers apply the basket and sales strategy during e-commerce sales specifically for the Big Billion Days period, wherein consumers place their items into shopping carts prior to the date of sale and complete their transaction while the platform commerce sale goes live. In Criteo’s 2020 data, it can be seen that people started to look into items approximately 3 days before, recording 120.8% in the indexed basket. Moreover, growing trends of video ads indicate that video is gaining importance this festive season. According to Criteo’s 2021 Holiday Commerce Report, consumers are receptive to ads when they’re watching videos and will take actions like searching for and purchasing the products they’ve seen.”

     

    The 2020 and 2021 data additionally reveal deeper insights on the evolving e-commerce trends expected this year:

     

    With September 2020 as a baseline, approximately 86% pre-Diwali daily sales were noticed in October 2020, whereas 2021 detected 200% of daily sales in the end of September, marking the beginning of the Big Billion Days period.

     

    With the first seven days of October 2021 as a baseline, festive shopping started one month prior to Diwali in 2021, with +27% spike.

     

    For the rest of October, the sales remain moderate, however, there are two small increases around October 17 and 2, although it didn’t exceed the trend observed at the beginning of the month.

     

  • To further accelerate growth in India and Indonesia

    Criteo and Httpool announce partnership

    By Our Staff

     

    Httpool and Criteo have announced the appointment of Httpool as Criteo’s official adsales partner for India and Indonesia. Criteo is evolving to be a world’s leading Commerce Media Platform and driving its growth through machine-learning and AI technology, data and performance at scale, and measurable ROI for brands, retailers, and agencies. Through Criteo’s Ad Sales Partner Program with Httpool, Criteo is further accelerating its growth in India and Indonesia, providing full-funnel marketing solutions aimed at driving profits and sales for retailers and brands.

     

    Said Taranjeet Singh, Managing Director of SEA & India, Criteo: “We are pleased to announce the official adsales partnership with Httpool in India and Indonesia. We look forward to extending our support further and equipping marketers in these growing markets with Criteo’s trusted and impactful advertising solutions through this partnership.”

     

    Added Pankaj Jain, Partner Director, Native India & SEA, Httpool: “We are extremely excited to be the ad sales partner for Criteo. It’s one of the very few technology platforms that can successfully build a vast network of publishers with the ability to target online shoppers based on their interests and behaviour. Together, we aim to extend the platform to every advertiser by providing our best-dedicated team and ensuring we support advertisers at every stage.”

     

  • Share of digital marketing spend increased significantly

    Criteo report of Covid impact on marketing

    By Our Staff

    Criteo released its ‘Covid-19 Impact on Marketing’ report which surveyed senior marketers in India including CMOs and Heads of digital marketing. The report highlights the impact of Covid-19 on consumer buying behaviour and that it has led to more online sales and rapid digital transformation. The survey findings reveal the implications of Covid-19 for businesses, their priorities, challenges and digital marketing spend.

    Criteo surveyed 1,000 senior marketing executives globally, including 105 in India, to learn more about their plans for 2021.

    Said Taranjeet Singh, Managing Director of South East Asia and India, Criteo: “Our Survey focuses on marketing as the remote control to the success ladder for any business, especially during Covid-19. Digital transformation will continue to be a focus in 2021, as companies realise that we may never go back to ‘business as normal.’ By staying on the top of new trends, analysing the market insights, and understanding the growing customer demands and changes in behaviour, marketers can develop a successful marketing campaign for moving ahead in the future. Agility in all facets of business, especially marketing, will be a key to success.”

    In terms of digital marketing spend and re-allocation budgets, nearly all marketers in India have made changes to their strategy due to the pandemic. According to the survey it can be observed that Covid-19 resulted in more marketing spend across digital channels which will continue in the years ahead. 58% of marketers in India say their digital campaigns are too dependent on walled gardens. Digital marketing budgets have increased, but brand safety, and high dependency on Facebook, Google, and Amazon are big concerns (50%). Nearly half of the marketers in India say that their marketing budget commitments and new product/service launches are going ahead as planned. Events and outdoor marketing campaigns have been more negatively impacted.

    As a way forward, the survey highlights 51% of marketers say their budget for advertising on publisher websites and apps is likely to increase in 2021. Here, customer retention and expanding into new offerings are top objectives moving forward. Marketers in India confirm that digitalisation of business operations is their top priority (70%).

  • Criteo ad campaigns to scale up Gradeup business and boost e-learning

    Criteo collaborates with Gradeup

    By Our Staff

     

    Criteo has announced partnership with Gradeup to engage with users for online learning.

    Said Taranjeet Singh, Managing Director of South East Asia and India, Criteo: “Collaboration and strategic partnerships are fundamental to improving business outcomes. Our strategic partnership with various clients has help them increase the user base to their niche audience they wish to tap on. We, at Criteo, are delighted to render our pool of services which helps users and clients to get exactly what they desire for. In such unprecedented times, our success stories including Gradeup has helped us to ensure best-in-class offerings, services and better return on advertising spend.”

    Added Ankit Gautam, Gradeup’s Associate Vice President of Marketing: “Focusing on students ambitions, delivering specific guidance with impactful result; this is what we thrive for at Gradeup. To help more students achieve their goals, we are thrilled to announce our partnership with Criteo and work closely to create relevant digital display advertising which will help us generating good quality users at scale. This partnership represents undeniable momentum as today we see changing consumer behaviour along with a paradigm shift towards online learning.”

     

     

  • Taranjeet Singh, MD, SE Asia & India at Criteo, speaks on the digital adspends, third-party measurement and more

    Future (& Present) Bright 4 Digital Spends

     

    One of the few media professionals at the top who have had hands-on experience across all sectors – print, television, digital and OTT until earlier this year, Taranjeet Singh is Managing Director, Southeast Asia (SEA) and India of Criteo. Criteo is a global tech company working with top marketers for their advertising needs. That’s over 20,000 customers and thousands of publishers across the globe.

    Singh joined Criteo while the lockdown was on, after a breezy near-two-year run heading business at Zee5. And before that he was at BBC Worldwide, Outlook Publishing, The Pioneer and a short stint at NIIT. He is based in New Delhi.

    Taranjeet Singh spoke with MxMIndia Editor-in-Chief Pradyuman Maheshwari on a variety of issues around digital media – on adspends versus print and television, on third-party measurement and the overall outlook for the sector. And of course9+0-

    also around what Criteo has been doing.

    Watch. Enjoy. Like.

     

  • The report highlights the top trends observed for the e-commerce market in India

    Criteo report on on ‘golden quarter’ for e-comm

    By A Correspondent

     

    Criteo, the Nasdaq-listed company, has released its Holiday Report 2020 highlighting key trends in the online e-commerce industry in the festive season starting Raksha Bandhan, Big Billion Days and Diwali. The report highlights the top trends observed for the e-commerce market in India. Criteo bills this as the ‘Golden Quarter’ as e-commerce clocks significantly high growth.

     

    KEY HIGHLIGHTS FROM THE REPORT

    :: Retail Recovery – 28% YoY increase in online retail sales

    :: Up to +343% – Sales of Flowers & Gifts categories increased in August 2019, compared to average in July during Raksha Bandhan

    :: 70% increase in sales for Food & Beverages during Raksha Bandhan. Previous year, it was increased by 50%, showcasing a significant increase up to 70% following the event

    :: Overall, retail sales up 39% for Big Billion Days, 27% on average during the entire week, compared to average in August.

    :: For every 1,000 visitors to Indian retailers, there is significantly more transactions than usual. The week of Big Billion Days represent +27% sales for +19% traffic

    :: 50% increase of App sales, just one month after Diwali 2019

    :: 32% increase in sales in the Food & Beverage category

    :: 16% travel upliftment & bookings just after Diwali 2019

     

    Overcoming such unprecedented times, online retail is back to pre-Covid-19 numbers, and steadily growing upwards since then. As 2020 sales are increasing progressively; 2019 data provides relevant context and describes the strong seasonality expected in coming weeks. According to the report, there has been a 28% year on year increase in the overall online retail sales.

     

    Speaking on the report, Taranjeet Singh, Managing Director of South East Asia and India, Criteo, said: “During these trying times, the Indian E-commerce industry has been on a steady upward growth trajectory showcasing a gradual shift of consumers towards E-commerce websites for purchases. Consumers have moved onto a stage where purchasing online has become their daily routine in order to fulfil all their demands for food, beverages and festive gifting. Expanding businesses on E-commerce platforms is the need of the hour. This golden quarter signals a revival in demand and consumer sentiment at large on ecommerce platforms.”

     

     

  • The newly launched report shows that while stuck at home, Indian mobile app users want to entertain themselves and shop online

    6 out of 10 Indian shoppers have downloaded streaming video apps: Criteo

    By A Correspondent

     

    Criteo, the global technology company powering the world’s marketers with trusted and impactful advertising, has released a survey on the results of the impact of Covid-19 on downloads and usage on apps. The report is titled as ‘App User Behaviour in 2020: India’. Criteo’s research saw that apps are now indispensable for users to shop, connect with their loved ones and entertain themselves.

     

    According to the survey, two-thirds of Indian app users have downloaded a streaming video app to entertain themselves. The report highlights a change in online shopping trends as well. 45% of respondents downloaded a new retail shopping app in the last few weeks. 4 out of 10 respondents also said that they downloaded new apps for grocery/alcohol/food delivery in recent weeks.

     

    Key Insights:

    # 45% of respondents downloaded a new retail shopping app

    # 65% of Gen Z and millennials downloaded at least one video streaming app

    # 65% increase in downloads for social networking apps

    # 7 out of 10 Indians said they downloaded an app during quarantine after seeing an ad on social networks, on TV, or a different app

     

    The report highlights that Gen Z and millennials prefer to use mobile applications much more than the older generations. They have a higher preference and convenience for using apps, and this is true across most product categories. They are seeking out more streaming entertainment apps and gaming apps. 65% of Gen Z and millennials downloaded at least one video streaming app whereas, only 56% of boomers downloaded the same. However, boomers downloaded the news related apps 3% more than the millennials.

     

    With people spending most of their time at home, 4 in 10 Indians have also increased their app usage by spending more time shopping. Social networking apps have seen the most heightened download number, 65%. Video streaming and video conferencing apps have seen a high number of downloads as well, 63% and 52%, respectively.

     

    Said Taranjeet Singh, Managing Director of South East Asia and India, Criteo: “From buying groceries and meals to home entertainment and workouts, apps have shown their versality to cater to varying audience segments to meet their needs and wants. Covid-19 has fundamentally changed the relationship between mobile users and their apps, elevating their importance to users due to their convenience during these times. We see that this could continue to be the trend even in the recovery stages after lockdowns as consumers have experienced and enjoyed the benefits of using apps. Brands and retailers will have to build up their presence in this area to stay competitive in the long term.”

     

    Advertising is an extremely important player to promote an app. 7 out of 10 Indians said they downloaded an app during quarantine after seeing an ad on social networks, on TV, or a different app. 58% of respondents downloaded an app because of ‘Word of mouth’ and recommendations of family and friends.

     

    50% of millennials and 49% of boomers said that they were most likely to delete the apps they have downloaded due to the lockdown. Whereas 79% of millennials and 83% of boomers said that they plan to make an in-app purchase they downloaded during the lockdown.

    The survey also revealed that in the last 6 months, the highest share of respondents downloaded a streaming video app (85%), music app (81%), and/or retail shopping app (79%). It also highlighted that younger generations are slightly more likely than older ones to download a paid app.

  • Singh will steer Criteo’s business strategy for the region

    Taranjeet Singh appointed MD for SE Asia & India at Criteo

    By A Correspondent

     

    It’s now official. Criteo has announced the appointment of Taranjeet Singh as Managing Director, Southeast Asia (SEA) and India, to lead the market for the company. Singh will steer Criteo’s business strategy for the region, driving continued growth and building on the company’s current portfolio of customers which include Love, Bonito, Shopback, K&K Fashion, Tugo.vn, Tata CLIQ, and Nykaa. Singh was until recently with Zee5.

     

    Starting in New Delhi, Singh will oversee Criteo’s operations in SEA and India. He will work closely with the company’s regional leadership to strengthen Criteo’s current advertiser and partner relationships and spearhead new business development.

     

    Said Kenneth Pao, Executive Managing Director for Asia Pacific, Criteo: “Taranjeet brings a rich experience of more than 17 years of leadership experience within the media and technology industry in Asia Pacific. This pandemic has transformed many businesses. It has caused brands big and small to quickly pivot their marketing strategies to adapt to this new normal and social distancing economy. We are fortunate to be able to add Taranjeet to our leadership bench as we help our customers and partners provide as much value to their customers as possible during this time. We are also excited to have him on board to help propel the company’s vision to power marketers globally with trusted and impactful advertising.”

     

    Added Singh: “Online commerce is now the lifeblood for consumers. Online retail sales in SEA are experiencing a higher uplift in 2020 compared to last year, with peak sales growth of 141 per cent seen the week of 23 March. According to a consumer survey conducted by Criteo, the India report shows that half of consumers say they’ll purchase more online because of Covid-19 especially the millennials. The need for the internet is more pronounced than ever during this period. As brands adapt their marketing strategies to meet the current online demand, they need to continue to be customer-centric and focus on providing solutions for consumer concerns and pain points.”

     

     

  • Brands can leverage ‘AIDA’ model via single offering from ZEE5’s industry defining Ad-suite

    Zee5 launches Infonomix platform in India

    By A Correspondent

     

    Zee5 has announced the launch of Infonomix – a universal offering from its Ad Suite. It is designed and developed to help brands benefit from precise targeting and segmentation capabilities to deliver measurable results.

     

    Said Taranjeet Singh, Chief Revenue Officer and Business Head, Zee5 India said, “The core idea behind designing Zee5’s Ad Suite is to give power to brands to choose the best offering per their business objective. Infonomix is a classic example of how brands can make use of this flexibility and prowess to target precisely and leverage segmentation capabilities to deliver measurable results in a brand safe environment.”