Retail media solutions to address fragmentation and drive commerce outcomes across the entire advertising ecosystem
NEW YORK, Sept. 12, 2023 /PRNewswire/ -- Criteo (Nasdaq: CRTO), the commerce media company, today 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.
"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," said Megan Clarken, CEO at Criteo. "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
"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," said Billy Dyer, Club Team Shopper Marketing Lead at Unilever following another successful test with GroupM and Unilever in which the brand's conversion rate rose by over 400%. "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."
"Shipt is known for having a unique member community that is loyal to our platform, and when coupled with Criteo's onsite and offsite products and enhanced personalization features in our full-funnel offering, advertisers have found it to drive an ever greater return for their ad spend," said David Young, VP, CPG Partnerships at Shipt.
"We're excited to be at the forefront of the rollout of the Commerce Max platform, starting with its initial testing phase and now its general availability," said Mark Heitke, Director of Ad Products and Audience Strategy at Best Buy Ads. "The platform offers a variety of onsite and offsite capabilities, giving our brand partners even more options to reach our audiences in meaningful ways."
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 is a leader and one of the first to bring digital measurement standards to retail media with Commerce Max. Criteo's partnership with Integral Ad Science allows brands and agencies to measure viewability and invalid traffic on a retailer's site across all ad formats, including native and sponsored products by 2024.
A Unified Approach for Retailers
The second component of today's launch is the unveiling of Criteo's retailer monetization solution suite. This suite marks the next phase in the development of Criteo's core monetization technology, Commerce Yield, which will not only provides retailers and marketplaces with a complete media toolset, but also serves commerce companies such as automakers, movie theaters, transportation services, airlines and more.
Commerce Yield combines Criteo's former Retail Media Platform with several solutions derived from recent strategic acquisitions, including:
Criteo's leadership team will unveil more details during a hosted event today, September 12th at 12p.m. Eastern Time. To watch the broadcast, click here.
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
Forward-Looking Statements Disclosure
Forward-Looking Statements Disclosure. This press release contains forward-looking statements, including our expectations regarding our market opportunity and future growth prospects and other statements that are not historical facts and involve risks and uncertainties that could cause actual results to differ materially. Factors that might cause or contribute to such differences include, but are not limited to: failure related to our technology and our ability to innovate and respond to changes in technology, uncertainty regarding our ability to access a consistent supply of internet display advertising inventory and expand access to such inventory, including without limitation uncertainty regarding the timing and scope of proposed changes to and enhancements of the Chrome browser announced by Google, investments in new business opportunities and the timing of these investments, whether the projected benefits of acquisitions materialize as expected, including the successful integration of our acquisitions of IPONWEB and Brandcrush, uncertainty regarding international growth and expansion (including related to changes in a specific country's or region's political or economic conditions), the impact of competition, uncertainty regarding legislative, regulatory or self-regulatory developments regarding data privacy matters and the impact of efforts by other participants in our industry to comply therewith, the impact of consumer resistance to the collection and sharing of data, our ability to access data through third parties, failure to enhance our brand cost-effectively, recent growth rates not being indicative of future growth, our ability to manage growth, potential fluctuations in operating results, our ability to grow our base of clients, and the financial impact of maximizing Contribution ex-TAC, as well as risks related to future opportunities and plans, including the uncertainty of expected future financial performance and results and those risks detailed from time-to-time under the caption "Risk Factors" and elsewhere in the Company's SEC filings and reports, including the Company's Annual Report on Form 10-K filed with the SEC on February 24, 2023, and in subsequent Quarterly Reports on Form 10-Q as well as future filings and reports by the Company. Importantly, at this time, macro-economic conditions including inflation and rising interest rates in the U.S. have impacted Criteo's business, financial condition, cash flow and results of operations.
Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events, changes in expectations or otherwise.
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