CANNES — There is a tremendous amount of excitement surrounding retail media, and for good reason.
The category is growing rapidly, with projections to reach $132 billion.
In this interview with CIMM MD Jon Watts at Cannes Lions for Beet.TV, Brian Gleason, Global Chief Revenue Officer of Criteo, discusses the reasons for this buzz and shares his insights on the future of retail media.
The Benefits of Retail Media
Gleason explains that retail media is beneficial for more than just retailers:
- “It allows brands to be able to engage in the discovery process, which is significant for retailers,” he says. “It allows them to turn into a media company, which is both a profit generator.
- “But it’s also an chance to enhance that consumer experience for agencies. It allows them to be able to add additional value and to be able to guide or take their clients along this journey.
- “For publishers, it’s incremental revenue as well as new experiences. So everybody’s benefiting, you know, from this rise.”
Building a Strong Ecosystem
Criteo’s retail media solutions provide advertisers with the opportunity to promote their products and services within the online retail environment.
Criteo’s ambition is to build a commerce ecosystem, and Gleason highlights the key numbers that demonstrate the company’s participation in the market, with over 200 retailers, 1,800 brands, and every agency holding company engaged. To bring new clients and customers into the ecosystem, Criteo focuses on three things:
- education
- making it easier for businesses to transact
- offering the ability for clients to target commerce audiences against their publishing partners.
Gleason sees retail media as a massive wave coming into the ecosystem, and he anticipates more retailers, channels, brands, and geographies will light up to achieve the projected $132 billion. He expresses Criteo’s ambition to be the platform that enables all of it, stating: “We have the moment, the moment is here. We just have to take advantage of it.”
You’re watching coverage of the Global Retail Media Summit at Cannes Lions 2023, presented by Criteo & Habu. For more videos from Beet.TV’s Cannes Lions 2023 coverage, please visit this page.
