CANNES – Retailers that sell advertising have emerged as one of the fastest-growing segments of the media marketplace. The enthusiasm for these retail media networks, and commerce media at large, was evident at the Cannes Lions International Festival of Creativity.
“For the first time, we’re able to stitch together the customer journey, or the consumer journey, from the time that brands are discovered and considered all the way down to the point of purchase and measure it,” Todd Parsons, chief product officer at Criteo, said in this interview with Jon Watts, managing director of the Coalition for Innovative Media Measurement. “It’s a very exciting progression in the media space for that reason.”
Criteo is working with retailers to maximize the value of their advertising inventories, building on its experience in digital marketing and with harnessing different kinds of data.
“We have constantly been looking at product data, not just product catalogs of our customers, but also across product catalogs of different manufacturers,” Parsons said. “In a way, we have a view of how products are organized across the entire consumer landscape: what gets purchased, when what gets purchased with it, how things are priced, where they’re in stock.”
Behavioral data gathered from different e-commerce and offline environments, along with media consumption are a second important part of Criteo’s data architecture. Finally, first-party consumers from data of its customers and partners also help to define audiences.
“We need to not only be an easy way to bring data in and protect it on behalf of our different stakeholders, but we need to be able to push it to the edges very effectively,” Parsons said. “We’re constantly looking for ways to make it a lot easier for marketers and media owners to collaborate with their data.”
You’re watching coverage of Beet.TV’s Global Leadership Summit: Retail & Commerce Media, a Beet.TV Leadership Series at Cannes Lions 2024, presented by CMX, Criteo, LiveRamp & Snap. For more videos from this series, please visit this page.
