First-mover partnership provides more transparency into the digital shelf, enabling brands to optimize their retail media strategies and drive online sales growth ahead of back-to-school and holiday season
NEW YORK, Aug. 24, 2023 /PRNewswire/ -- Criteo S.A. (NASDAQ: CRTO), the commerce media company and global marketing and corporate communications company, Omnicom (NYSE: OMC), today announced that they are expanding their recently announced commerce data partnership to encompass digital shelf data and insights from Criteo's widespread retailer network.
Omnicom is the first agency holding company partnering with Criteo in this area.
"With this partnership, our insights technology will empower Omnicom's clients to better understand the impact of their advertising by gaining unprecedented visibility into their share of shelf, their share of category and more product-level insights than ever before," said Brian Gleason, Chief Revenue Officer at Criteo. "As we head into the busy back-to-school and holiday season, advertisers are looking to prove the value of their investments and media budget, and Criteo is giving them the tools needed to succeed in the ever-complex retail media ecosystem."
The National Retail Federation estimates $41.5 billion spend in the US for back-to-school this year, kicking off another competitive holiday shopping season as consumers look for the best deals and advertisers look to capture their demand. With Commerce Insights, advertisers get visibility into sales rank, attributed sales, and other metrics to allow for data-driven decision making throughout the commerce media lifecycle, from media planning to campaign execution and optimization.
In a pilot conducted earlier this year, Omnicom teams leveraging the Criteo digital shelf data saw overall return on ad spending (ROAS) goals increase by 22 percent.
"This collaboration is another example of how Omnicom is co-creating with other marketplace leaders to develop unique utility and competitive advantages for our clients in this rapidly evolving space," says Frank Kochenash, Global CEO of Omnicom's connected commerce and e-retail consultancy Transact. "Operationalizing Criteo's suite of insights and tools within our Omni marketing orchestration system, our teams will be able to better optimize our clients' investments across retailers, improve their brands' standing in their categories and help them exceed ROAS goals."
Last month Omnicom expanded its connected commerce footprint with the acquisition of Outpromo and Global Shopper, two of Brazil's leading connected commerce and retail media agencies. And in June, the holding company launched Omni Commerce, the industry's first connected commerce orchestration solution.
Criteo's investment in Commerce Insights stems from its strategic acquisition of Gradient, an intelligent insights company, in 2021. Criteo is recognized as a pioneer in applying machine learning to digital retail shelf analytics and was granted a US patent on Systems and Methods for Digital Shelf Display earlier this year.
Criteo (NASDAQ: CRTO) is the global commerce media company that enables marketers and media owners to drive better commerce outcomes. Its industry leading Commerce Media Platform connects thousands of marketers and media owners to deliver richer consumer experiences from product discovery to purchase. By powering trusted and impactful advertising, Criteo supports an open internet that encourages discovery, innovation, and choice. For more information, please visit www.criteo.com.
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