India: Criteo (Nasdaq: CRTO) has partnered with Microsoft Advertising to expand its reach. Microsoft Advertising will provide demand to Criteo’s 225 retailers and collaborate with Criteo as its onsite media partner, enhancing the retail media ecosystem.
According to GroupM, retail media is rapidly growing and set to exceed $150 billion in ad spend by 2026. Market fragmentation is a key hurdle cited by 93% of marketers globally. Criteo and Microsoft Advertising aim to address this by leveraging Criteo’s retailer network and creating a unified buying experience for advertisers worldwide.
This collaboration aims to strengthen the companies’ relationship, generate new revenue for Criteo’s retail media network partners, and enhance performance for Microsoft Advertising’s 500,000+ active advertiser clients across 187 global markets by providing a unified platform.
Brian Gleason, Chief Revenue Officer at Criteo said, “We’re thrilled to expand our relationship with Microsoft Advertising to make it easier for brands to buy retail media and for retailers to expand demand into their media solutions. We look forward to continuing to evolve our collaboration and help drive growth across retail media.”
Criteo is considering leveraging Microsoft Advertising’s leadership in generative AI and innovations like the AI-powered Retail Media Creative Studio, facilitating ad creative creation and optimization using generative AI at scale.
Lynne Kjolso, Vice President of Global Partnerships and Retail Media at Microsoft Advertising said, “Together, Microsoft Advertising and Criteo can chart a new path forward for retail media, empowering the entire ecosystem with scale, simplicity, and innovation. We’re pleased to further our integration with Criteo, a leader in retail media and performance advertising, and look forward to exploring future opportunities.”
The demand integration and preferred onsite collaboration are expected to roll out in the second half of 2024.
For more information on Criteo’s retail media solutions and its retail media ecosystem, click here.
